In seeking an alliance with Pakistan against militants, America is courting a Muslim nation whose military is fixated on India.
Elwin Hope Wilson leans back in his recliner at his home in Rock Hill, SC, a sad, sickly man haunted by time.
Antique clocks, at least a hundred of them, fill his neat ranch home on Tillman Street. Grandfather clocks, mantel clocks, cuckoos and Westministers, all ticking, chiming and clanging in an hourly cacophony that measures the passing days.
Why clocks? his wife Judy has often asked during their 49 years together.
The Pentagon’s 18-year ban on media coverage of fallen U.S. service members returning home ended quietly, with only an officer’s sharp order to salute accompanying a single flag-covered casket being unloaded from a cargo plane.
After receiving permission from family members, the military opened Dover Air Force Base in Delaware to the media Sunday night for the return of the body of Air Force Staff Sgt. Phillip Myers of Hopewell, Va.
The G-20 economic summit fell short of expectations — and that’s probably just as well.
President Obama did not get a coordinated, massive global stimulus initiative and with it the threat of global inflation. The summit did approve $1.1 trillion in lending authority and cash for the International Monetary Fund and that sum alone, coursing through the smaller economies of Eastern Europe and Latin America, will have to be carefully monitored for its inflationary impact as the recession begins to ease, which it will.
The Congressional Budget Office, the economic forecasting arm of the Congress, now reports that the Social Security trust fund is almost in the red. They project that the fund’s surplus next year will be a scant $3 billion.
For perspective, CBO just 12 months ago projected that this same surplus would be $86 billion — almost 30 times larger. Plus, the CBO estimated then that the fund would not be in the red for another ten years. Now it looks like it may be next year.
Unless you wandered off the beaten path in the business pages you probably missed this dispatch out of Detroit that President Obama’s auto task force participating in meetings that "have focused on educating the Treasury on the world of auto manufacturing."
This is ominous news indeed, especially coupled with the Obama administration forcing out General Motors’ CEO. The Treasury is sidling into the auto business — Ford, Chrysler, GM, Toyota, Treasury.