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Budget Cuts Threaten Cutting-Edge Technology

It should be obvious that government must play a critical role in developing new technologies. Government can promote ideas based solely on potential merit or benefit, while private investors must focus on profitability. By supporting pure research and nurturing innovative approaches to solving national needs, the government also provides an invaluable resource to commercial ventures, sometimes in the most ...

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America’s Aversion to Taxes

It's amazing. America is slipping behind the industrialized world. Our democracy, our very way of life, is threatened. But we stubbornly refuse to pay higher taxes -- we even refuse to allow the wealthiest among us, who have gotten disproportionately wealthier in recent years -- no matter how much it hurts us. Goodbye, America. Goodbye, light of the world. August 14, 2012 ...Italy may be in a funk, with a s ...

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Paul Ryan’s Fairy-Tale Budget Plan

What does David Stockman know? He's just a former Wall Street banker and CEO of a Detroit auto parts manufacturer, a three-term Republican Congressman, and Director of the Office of Management of the Budget under Ronald Reagan. We can't be listening to the likes of him. August 13, 2012 Paul D. Ryan’s talk of shrinking Big Government and giving tax cuts to “job creators” will do nothing to reverse the nation ...

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In Thrall to Sheldon Adelson

Instead of repudiating a casino mogul’s billions, Mitt Romney and Paul Ryan get even closer and jeopardize the integrity of their campaign. Read the complete editorial: http://www.nytimes.com/2012/08/17/opinion/in-thrall-to-sheldon-adelson.html?smid=pl-share ...

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In Laundering Case, a Lax Banking Law Obscured Money Flow

This isn't an easy story to follow, so it's unlikely that it'll ever make a big splash on the cable networks, but it appears that British and American banks were laundering money for anti-American interests. August 8,2012 Until the law was changed in 2008, global banks could circumvent U.S. sanctions against Iran, Cuba, North Korea, sponsors of terrorist cells and drug cartels Vubdisguise clients identities ...

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The high cost of closing Indian Point

Environmentalists have long had safety concerns about Indian Point, but so far no one has come up with a viable alternative to replace the power it produces. August 8, 2012 Gov. Cuomo has repeatedly said he wants to close down Indian Point, the 2,083-megawatt nuclear plant 35 miles north of Midtown. He may have the leverage to do it — but he’d better look at the costs before he does. Indian Point provides a ...

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Yet One More Way Republicans Are Sabotaging the Economy

August 6,2012 If any of your friends or family think the Republicans' obstinate and irrational ways are not screwing up the economy, they should consider this. Morgan Stanley surveyed businesses in July and found that 40% of them are slowing their hiring and investments because of the uncertainty created by "the fiscal cliff." And, if you don't think that the fiscal cliff is a Republican creation, you need ...

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Vanishing pensions

Less than 30% of firms offer The time-honored American institution of a company-financed pension is going the way of the company car. The defined-benefit pension is a vestige of a bygone era, says Alex Pollock, a scholar at the American Enterprise Institute, who also questions the idea of Uncle Sam guaranteeing pensions. That is a system that started back in the 1970s at the suggestion of Nat Weinberg, an e ...

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That old QE religion: faith, hope & no clarity

John Crudele makes an interesting proposal to jump-start the economy. Is he right? Who knows? But his idea is specific and substantive, and doesn't fit neatly into typical right or left categorization. Sadly, such ideas never seem to make it into the national dialogue. Instead, we are subject to a barrage of ideologies -- or more bluntly, propaganda -- that drowns out the possibility of creative solutions a ...

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In Its First Action, Consumer Bureau Takes Aim at Capital One

This didn't make huge news, but if it succeeds in protecting American consumers it could well represent a substantial accomplishment of the Obama Administration. July 19, 2012 The Consumer Financial Protection Bureau on Wednesday delivered its first enforcement action against the financial industry, fining Capital One for pressuring and misleading more than two million credit card customers. Read more: http ...

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