Business & Economy
Associated Press/Photo by Gerald Herbert

Big Three back before Congress

Economy | The top auto executives spend two days in Washington asking Congress for $34 billion-$9 billion more than last time
by Emily Belz
Posted 12/04/08, 12:00 am

WASHINGTON-Chastised and having driven 525 miles from Detroit in hybrids instead of flying in corporate jets, the top executives of the Big Three U.S. automakers presented renewed pleas to Congress for federal funds to save their companies.

"We're here today because we made mistakes, which we're learning from," General Motors CEO Richard Wagoner told the Senate Banking Committee on Thursday.

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Associated Press/Photo by Mark Lennihan (file)

Happy holidays

Economy | Instead of a bailout, Rep.
by Emily Belz
Posted 12/03/08, 12:00 am

WASHINGTON-Treasury Secretary Henry Paulson has used up almost half of the $700 billion economic bailout, and one Texas Republican proposes that the other half go back to taxpayers.

Rep. Louie Gohmert has proposed a two-month tax holiday beginning in January 2009 for all Americans-corporations excluded.

"We need to give this money to the people who earned it," said Gohmert in a statement. "I am sick of Washington millionaires trying to decide which of their cronies should get the next wad of taxpayer money."

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by Alex Tokarev
Posted 12/02/08, 03:55 pm

When I labeled the economic stimulus measures of the current administration "Keynesian," a Republican friend of mine got angry. Not at me-he got angry at his own party's leaders for sacrificing their principles in the face of hardship. He realized the similarities between the year 2008 and the Republican follies of the early 1930s and 1970s. And he expressed his disgust by staying home on November 4.

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