An economic companion to the Messiah

President Barack Obama addressed a joint session of Congress, offering a broad outline of a massive spending plan paired with $2 trillion in spending cuts over the next decade. “Now is the time,” he said, “to jump-start job creation, restart lending, and invest in areas like energy, health care, and education.”NPR.orgIt was announced that General Motors lost $30.9 billion last year; that U.S. GDP fell 6.2 percent in the fourth quarter of 2008, exceeding the officially predicted 3.8 percent drop, and even the 5.5 percent drop economists had expected; and that the U.S. government will own up to 36 percent …

The Labor Department reported that 533,000 people lost their jobs in November, a further 621,000 people were forced into part-time employment, and 422,000 more simply dropped out of the labor force. The report, describing a situation far worse than economists expected, also recorded 24,000 layoffs by auto dealers.MarketwatchRepresentatives of the Big Three car companies, facing their lowest sales in decades and, in the case of Chrysler and General Motors, imminent collapse, again appeared before Congress (traveling by car and commercial flights this time, rather than on private jets) to ask for $34 billion in aid, a few billion less than …

The Supreme Court overturned the 32-year ban on handguns in Washington, D.C., ruling 5-4 that there is a Second Amendment right to own a gun for personal use. Justice John Paul Stevens wrote in his dissent that the court’s ruling, its first on the Second Amendment in 70 years, showed a lack of “respect for the well-settled views of all of our predecessors on the court, and for the rule of law itself.” The National Rifle Association promptly brought lawsuits against five other cities with handgun bans, including San Francisco, Chicago, and Oak Park, Illinois. “It’s just completely befuddling,” said …

The Supreme Court ruled 5�??4 that detainees held as “enemy combatants” by the United States in Guantanamo Bay,Cuba, have a constitutional right to challenge their detention through habeas corpus petitions in federal courts. “Liberty and security can be reconciled…within the framework of the law,” wrote Justice Anthony M. Kennedy in the court’s decision. “The Framers decided that habeas corpus…must be…a part of that law.” Dissenting, Chief Justice John Roberts asked, “So who has won? Not the detainees. The Court’s analysis leaves them with only the prospect of further litigation.” Defense lawyers for the detainees moved to establish that their clients …

At least 150 Iraqis were killed by a truck bomb in northern Iraq in possibly the deadliest bombing since the United States invaded in 2003, and it was reported that, despite a police security drive, the number of unidentified bodies found in Baghdad had increased sharply in June. New York TimesBBCnews.comAustralia’s defense minister, Brendan Nelson, admitted that securing oil is one of the reasons Australian troops stay in Iraq. “This government,” said Labor leader Kevin Rudd, “simply makes it up as it goes along.”BBCnews.comThe White House rejected demands to hand over documents related to the firings of eight U.S. attorneys …

The Cloaca Maxima, 1872 Congress passed a bill allocating $100 billion for war spending without a timetable for troop withdrawal. CongressionalDemocrats allowed the vote to reach the House and Senate floors despite widespread opposition among their ranks because they didn’t want to go on Memorial Day break while soldiers remained wanting. Ten Democratic senators including Barack Obama and Hillary Clinton voted against the bill. “I was very disappointed to see Senator Obama and Senator Clinton embrace the policy of surrender,” said Senator John McCain. “This vote may win favor with MoveOn and liberal primary voters, but it’s the equivalent of …

The Republican candidates for the presidency debated at the Ronald Reagan Library in California. Senator Sam Brownback of Kansas said that the day Roe v. Wade was repealed would be “a glorious day of human liberty and freedom” and that the current tax system “ought to be taken behind a barn and killed with a dull ax”; Senator John McCain of Arizona claimed that he would “follow [Osama bin Laden] to the gates of hell”; TexasCongressman Ron Paul said that not going to war in Iraq would have been “conservative,” because “it�??s a Republican, it�??s a pro-American, it follows the …

An audit by the inspector general of the United States Justice Department charged that the FBI has engaged in “serious misuse” of the USA Patriot Act to collect the confidential phone, bank, and credit records of U.S. citizens without first obtaining a search warrant.CNN.comThe scandal surrounding the firing of eight federal prosecutors continued to unfold as it became clearer from congressional testimony that the attorneys had resisted political pressure from the White House to subordinate law enforcement priorities to partisan politics. Karl Rove admitted that he had passed along complaints from the New MexicoRepublican Party chairman about U.S. Attorney David …

An American cattleman. Robert Gates was approved by the Senate to replace Donald Rumsfeld as the new secretary of defense; senators described themselves as “very pleased,” “very impressed,” “very enthusiastic,” “very grateful,” and “very happy” with the confirmation. Rumsfeld gave an emotional farewell speech to Pentagon employees, and had to wipe his nose.Washington PostWashington PostNew York TimesPresident George W. Bush blamed John Bolton’s departure from the U.N. on the “shallow politics” of the Senate, and Kofi Annan, who will leave the U.N. on December 31 after completing his second five-year term as secretary general, said that he and Bolton were …

Killing Ground. Iranian president Mahmoud Ahmadinejad, speaking at the United Nations in New York, proclaimed his love for all the world’s peoples, and suggested that the United States halt domestic fuel production and buy its energy from him “at a fifty percent discount.”BBC NewsVenezuelan president Hugo Chavez objected to the smell of sulfur in the U.N.’s General Assembly hall, and offered to relocate the U.N.’s headquarters to Caracas. New York timesFox NewsTed Turner called the Iraq war one of the “dumbest moves of all time,”CNNand a spokesman for the Iraq Study Group, a think tank created to analyze events in …

A kinkajou, 1886. The Pentagon announced that civilian casualties in Iraq had increased recently by more than fifty percent, and death squads were said to be torturing and killing as many as 1,800 people per month.New York TimesAt least 200 Iraqis were killed in bombings, rocket attacks, and shootings, as were 19 American and British soldiers.CNNNPRU.S. Attorney General Alberto Gonzales visited Iraq to encourage “the rule of law,” andicasualties.orgNPRReutersReutersReutersSapa-AP via Independent OnlineReutersReutersAP via Houston ChronicleU.S. Secretary of DefenseDonald Rumsfeld quoted Georges Clemenceau, who said, “War is a series of catastrophes that results in a victory.”Washington PostIran ignored a U.N. Security …

In Iraq a car bomb killed 16 people and wounded 90, 14 bodies were found stacked in a hole, 5 U.S. troops were killed, and Saddam Hussein was boycotting his own trial.CNN.comProfessor Philippe Sands of University College, London, said he had seen a secret memo that details a January 2003 meeting between British Prime Minister Tony Blair and U.S. President George W. Bush. According to Sands’ account of the memo, Blair offered Bush full British support for an invasion of Iraq regardless of whether U.N. inspectors found evidence of weapons of mass destruction. Bush also told Blair that he was …

More than 170 people died in attacks in Iraq. They were: blown up at a Shiite shrine in Karbala; killed at a police recruiting center in Ramadi; and attacked with mortar, automatic weapons, and finally by a suicide bomber at a funeral near Baquba.BBC NewsBBC NewsTwelve U.S. soldiers were believed to have been killed when an Army helicopter crashed in northern Iraq,The New York Timesand a U.S. airstrike north of Baghdad, intended to destroy a shelter for insurgents, killed a civilian family of 12.Washington PostThe FAA took steps to lower the risk of spaceterrorism.BBC NewsA suicide bombing in Afghanistan killed …

Hurricane Rita, the third-most intense hurricane ever recorded in the Atlantic basin, struck Florida, Texas, Arkansas, Mississippi, and Louisiana, killing 36 people and causing flooding, tornadoes, and storm surges, and re-flooding parts of New Orleans. Hurricane evacuations caused miles of traffic jams in Texas, and a bus filled with elderly people exploded when an oxygen tank caught fire, incinerating at least 24 passengers.WikipediaHouston ChronicleIn the wake of Hurricane Rita, which damaged a number of oil refineries, President George W. Bush called on Americans to conserve gas. “I mean,” he said, “people just need to recognize that the storms have caused …

Lost Souls in Hell, 1875. Emergency officials in Louisiana requested 25,000 body bags for victims of Hurricane Katrina, and a total evacuation of New Orleans was ordered. Much of the city was still underwater, though several people who lived on high ground objected to the evacuation. “I haven’t even run out of weed yet,” said one woman.The GuardianThe New York TimesHouston, Texas, the headquarters of contractors Halliburton and Baker Hughes, was preparing for a boom; one real-estate firm was offering special financing deals “for hurricane survivors only.”IHTWealthy residents of New Orleans were devising ways to rebuild the city with a …