Unanimous: Obama Budget Defeated 414-0

In a rare instance of bipartisanship, President Barack Obama's reckless $3.6 trillion budget for next year was defeated 414-0 late last night on the House Floor.

Republicans said Democrats were afraid to vote for Obama's proposed tax increases and extra spending for energy and welfare. Democrats said Republicans had forced a vote on a version of Obama's budget that contained only its numbers, not the policies he would use to achieve them.

Moody's Investors Service considers Greece to have defaulted per its default definitions. The announcement comes despite Athens reaching a deal with private creditors for a bond exchange that will shave €107 billion from its €350 billion debt. The agency pointed out that even though 85.8% of the holders of Greek-law bonds had signed to the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate.

The 11 most evil things the banking industry did in 2011. List includes illegal debt collection methods.

Krugman - in - Wonderland

Analysis and criticism of America's most prominent public intellectual and champion of Keynesian economics. I am part of the Austrian School of Economics, and I critique Krugman's writings from that perspective.

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