Vice President Joe Biden has joined the pantheon of great thinkers who first uttered such brilliant statements as "Water is wet" and "Fire is hot." Appearing on CBS's The Early Show this morning, Mr. Biden declared that, "Washington right now is broken" and the country is in "deep trouble" unless it attacks ballooning federal deficits. (source) I guess given enough time, even a gaffe-prone, plagiarizing embarrassment like the vice president can get one right.

Read more »

Have you heard the one about the $787 billion stimulus bill that had to be passed to keep the unemployment rate below eight percent? Turns out the bill cost an additional $75 billion (for a total of $862 billion) mostly because unemployment benefits are costing more now that the unemployment rate is at ten percent. I really wish this was a joke but unfortunately, it's the bottom line in Tuesday's cost estimate of the Recovery Act by the nonpartisan Congressional Budget Office. (source)

Read more »