The boldest plan to rein in spending and debt comes from newcomer Sen. Mike Lee (R-Utah), a Tea Party favorite who dispatched Republican incumbent Bob Bennett in the primaries before coasting to victory in the general election last fall. Lee has vowed to block passage of a debt-limit increase unless Congress signs on to his balanced-budget amendment which would cap annual federal spending at 18 percent of Gross Domestic Product (GDP). The amendment would require a super-majority of two-thirds in the Senate and House of Representatives. Lee’s bill is competing with another Republican proposal from Sens. Hatch (Utah) and Cornyn (Texas) to cap spending at 20 percent of GDP. The Hatch-Cornyn bill has weaker rules on its higher cap as well.
Excellent work from Nick Gillespie at Reason TV.
Video: Rep. Mike Capuano takes on bailed-out bank CEOs - Flashback
Jamie Dimon, Lloyd Blankfein, Ken Lewis, John Thain, Vikram Pandit sit slack-jawed. Start watching at the 1:20 mark. Part of this clip was included in Charles Ferguson's Oscar-winning Inside Job.
- "Basically you come to us today on your bicycles, after buying Girl Scout cookies and helping out Mother Theresa."
Will Farrell's Funny or Die - Bush remarks from a Sizzler steakhouse in Texas.
He has personally overseen a 'strategic and covert operation.'
- 9 stocks up over 900% since Sept. 11, 2001
- Gold moves pit Soros against Paulson - Soros reportedly sells, while Paulson & Co. sees much higher prices
Big fish, little fish: Why the executives behind the financial crisis aren’t facing jail time but Charlie Engle is serving 21 months for a liar loan
Video - Joe Nocera on PBS Need to Know - April 30, 2011
New York Times columnist Joe Nocera discusses the case of Charlie Engle, one of the "little fish" who went to jail for lying on a mortgage application, while many of the "biggest fish" responsible for the financial crisis have escaped prosecution.
Click map to go to the WSJ interactive feature...
Growth in the food stamp program appeared to reach a plateau in February — with 14.3% of the population relying on the safety net program.
The number of food stamp recipients was essentially flat in February, the most recent month available, with 44.2 million Americans receiving benefits, according a new report from the U.S. Department of Agriculture.