RTFA: http://jtaplin.wordpress.com/the-cost-of-empire/

It is of course one of the defining articles of faith of the conservative movement that Reagan militarily spent the Soviets into bankruptcy. But it is a Big Lie. Of course the Soviet economy was a hollowed out shell in 1989, but it also held an extrordinary number of assets including one of the world’s largest oil reserves and an well educated work force. Freed from the need to compete in an arms race, the Russians were able to turn their talents to business. Today, the Russian central bank and the Central Bank of China, our other cold war foe, now control over 20% of the U.S. Treasury debt, and we control none of theirs. Exactly who spent who into bankruptcy?

Interesting point, but Taplin’s essay is LOADED with many such insights. This is well worth the read, although you won’t find some magic-bullet solution in the closing paragraphs. Consider these details, and arrive at your own conclusion.

RTFA: http://www.pewcenteronthestates.org/news_room_deta…

One in 33 homeowners is projected to be in foreclosure primarily over the next two years, as a result of subprime loans made in 2005 and 2006, according to a new report released today by The Pew Charitable Trusts. In some states, the outlook is especially grim; for instance, nearly one in 11 homeowners in Nevada is projected to be in foreclosure and one in 18 Arizona homeowners may face the same circumstance over the next two years. Homeowners being foreclosed upon may not be the only homeowners affected, according to data cited in the report. An additional 40 million neighboring homeowners may see their property values and their municipalities’ tax bases drop by as much as $356 billion, largely over the next two years.

Compassionate Conservativism will create real wealth by putting every American family in a house.

RTFA: http://rawstory.com/news/2008/Pope_to_skip_White_H…

The White House has scheduled a dinner next week in honor of Pope Benedict XVI’s first visit to the United States, but one guest will be conspicuously absent from the proceedings: the pope himself.

There are no competing events listed on the pope’s schedule, and the White House was unable to explain Benedict’s absence from the dinner.

Several Catholic overlords will sit in for the Pope during the feast. Meanwhile, the Pope himself will be across town, writing his memoirs: “great dinners are those in honor of one’s self, but the best are those that you need not even attend.”