In a time of universal deceit, telling the truth is a revolutionary act.

Early Verdict: Obama has screwed the pooch. So far.

 A few truthie factoids: 

The health insurers have an army of thousands of lobbyists working Congress and the Senate

The health insurers spend $1.4 MILLION each and every day, bribing, threatening, and convincing our erstwhile democratic representatives to go their way. 

The Democrat Party is run by idiots who could not organize a one car parking lot. 

The President lost control of the debate.

The President lost control of the spin.

The President lost control of the framing.

The President underestimated his opposition. 

 

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Democrats headed for doomsday

Charlie Cook, the veteran political handicapper who successfully predicted the Republican takeover of Congress in 1994 and forecast a Democratic return to power in 2006, says Democrats are headed for disaster at the ballot box in 2010.

"The situation this summer has slipped completely out of Control for President Obama and congressional Democrats," Cook writes in his latest newsletter, The Cook Report.

"Many veteran congressional election watchers, including Democratic ones, report an eerie sense of deja vu, with a consensus forming that the chances of Democratic losses going higher than 20 seats is just as good as the chances of Democratic losses going lower than 20 seats," Cook writes.

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The American right to invade privacy?

A disappointing feature of the Obama administration is its continuing support of the Bush administration’s assertion of the federal government’s unfettered right to snoop.

Last July, the Department of Homeland Security decreed that federal agents — customs, immigration, border patrol — could hold and search travelers’ documents and electronic devices without a warrant or even a suspicion that something might be amiss.

This power is particularly sensitive with regard to the now omnipresent laptops that can contain immense volumes of personal information — private e-mails, financial records, medical records, diaries, photos, addresses, proprietary business data, drafts of reports and articles.

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Obama goes to war…with himself

Regarding aggressive intelligence gathering, the Obama administration is now clearly at war — with the Obama administration. Very soon after assuming office, President Obama opted not to pursue prosecution of intelligence professionals who may have gone beyond the law during the Bush administration.

Now, however, Attorney General Eric Holder has reversed that course, appointing a special counsel to investigate possible abuses by the CIA, especially in regard to use of torture, euphemistically described as "enhanced interrogation techniques." The CIA will no longer handle such interrogations. This is a major political victory for the anti-war left of the Democratic Party.

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The doctrine of ‘plausible deniability’

As every school kid knows, Harry Truman instituted the doctrine of ultimate responsibility. The "buck stops here" became the symbol of strong leadership from an Oval Office where the phrase was prominently displayed on the presidential desk. Truman mainly held to that approach except now and then when he relied on something we’ve come to know as "plausible deniability," as had presidents before him.

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Another year, another mortgage crisis

Just as the economy is showing hopeful signs of life and the federal government is turning a profit on the early bailout money, the country may get blitzed by a second round of foreclosures — this time on commercial property instead of homes.

The Wall Street Journal reports that a large and still-undetermined chunk of $700 billion in commercial mortgage-backed securities, CMBS, is in trouble thanks to a massive downturn in the commercial real-estate market.

Like the mortgage bonds that caused such havoc when the housing market went south, commercial mortgages are packaged up and sold as bonds. Like homeowners betting that the value of their house would keep going up, investors in CMBS bet that the occupancy, rents and underlying value of commercial real estate — hotels, malls, office buildings, etc. — would keep rising.

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