Another month, another bailout, and this one is a biggie.
From NY Times:
Mr. Paulson’s plan begins with a pledge to provide additional cash by buying a new series of preferred shares that would offer dividends and be senior to both the existing preferred shares and the common stock that investors already hold.
The two companies would be [...]

Yes, you can actually do a lot right now to get better gas mileage and help drive down costs, like proper tire inflation, etc.
In fact, Arnold Schwarzenegger is helping out a new website called EcoDrivingUSA that promises to give you tips and tricks to help your wallet and the planet.

Hmm, sounds familiar…

For comparison, McCain raised $27M. Obviously, Obama is just crushing his Republican counterpart in the money game, but it’s still less than his haul of $52M in June.
Politico has some more details…
McCain’s attacks probably helped, as did big money from new former Clinton donors; but the fact that he can raise this much in the [...]

And that’s a new record for him, eclipsing his previous best by more than $6M.
Obama’s camp hasn’t released July numbers, but in June it grabbed $52 million. So Obama bested McCain’s total from June and July by about $4M just with his haul in June alone.
However, let’s remember that the RNC is flush with cash, [...]

Honestly, I find this to be a bit of a surprise. I think we’ve always been led to believe that people in the military will overwhelmingly support the Republican candidate, but that doesn’t seem to be the case this year.
Open Secrets shares how the numbers break down…

Obama - $60,642 - 134 donors

Paul - $45,512 - [...]

If true, this is pretty bad news. Because more than anything, it suggests that if all the loopholes are closed, American corporations may not even be able compete when they have to play by the rules.
From the AP:
WASHINGTON (AP) - Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to [...]

We’re paying through the nose now because we didn’t plan ahead back then.
From CS Monitor:
The Army may begin paying a retention bonus of as much as $150,000 to Arabic speaking soldiers in reflection of how critical it has become for the US military to retain native language and cultural know-how in its ranks.
Only one other [...]

Unlike McCain’s suggestion that Obama is himself responsible for rising gas prices, there’s nothing untrue about what Obama’s campaign is saying in this ad. However, by saying that McCain is in the pocket of Big Oil like Bush, he takes what could have been a solid campaign ad and turns it into a negative hit.

Obviously [...]

Apparently some of these donations have fallen through the cracks, but given how adamant the Obama campaign has been about not accepting any donations from this particular group, they’d do well to return every penny…and soon.
From Roll Call:
The Obama campaign said it has not changed its policy regarding lobbyist contributions and that it continues to [...]

How can we continue to tell folks that this economy works for them when it’s obvious that only folks at the top get the big rewards and none of it ever seems to trickle down?
From Contrarian Profits…
Let us explain how the financial industry worked. A guy borrowed some money from some other guy who borrowed [...]

Disheartening news for the next President…
WASHINGTON (AFP) — The US government’s budget deficit is expected to balloon to a record 482 billion dollars in the next fiscal year, largely due to an emergency economic stimulus and a slowing economy, a White House report showed Monday.
The report revealed that the Office of Management and Budget (OMB) [...]

First, his opening shot (emphasis mine)…
What worries me is the complete lack of accountability by Fannie’s and Freddie’s executives, as well as Wall Street investment bankers also now being insured by taxpayers. We’ve created the worst form of socialized capitalism—private gains combined with public losses.
These executives and bankers are among the best paid in all [...]

Obviously this is big news, and it nearly matches the record breaking $55 million he raised in February. Also, McCain raised $22 million in June, so Obama is obviously running circles around the Arizona senator when it comes to fundraising.
However, when you look at how much the McCain camp and the RNC has combined, you’ll [...]

I know I’ve personally stopped drinking bottled water as much as I can. There just doesn’t seem to be much point to it here in the US. Sure, I can understand for personal and public emergencies, but regular personal use just seems like a waste anymore.
What do you think?

With new questions about massive credit card debt and unpaid taxes, and questions still looming as to where Cindy invests her money and why she won’t fully disclose her tax returns, the McCain camp is becoming increasingly nervous that the lack of transparency may hurt them come this fall.
Politico points out why this matters…
During the [...]

Obama’s play for the evangelical vote continues…but, unlike his predecessor, he’s less interested in what faith can do and much more interested in how the faithful can help.
From AP:
Democratic presidential candidate Barack Obama is announcing plans to expand President Bush’s program steering federal social service dollars to religious groups and — in a move sure [...]

Emboldened by the recent 2nd amendment ruling, the National Rifle Association will spend $40M this fall, $15M of which will be used to paint Obama with the usual gun hating colors.
Anybody want to bet they’ll use Obama’s “bitter” comments against him?
Oh wait…they already have:
“Our members understand that if Barack Obama is elected president, and he [...]

From 69.1% in 2005 to 67.8% this year, which is the biggest decline in two decades.
NY Times explains the human costs:
For many minority and lower-income families who viewed homeownership as a stepping stone to building wealth and passing it on to their children, the transition from owning to renting has been the unraveling of a [...]

Actually, Barack took $21.9 million and John took $20.9, but what’s $1 million in a campaign season?
Here’s more about their cash on hand…
McCain reported having about $32 million in cash for primary-related expenses at the end of May.
Obama reported having $43 million in hand at the start of June — but about $10 million [...]

More evidence that Obama is backing up his pledge to go after these groups, although this one was much easier given the fact that they endorsed him. Also, it doesn’t mean that MoveOn won’t be spending money…just much, much less.
Still, TPM finds that the implications are far reaching…
MoveOn, the advocacy group supporting Barack Obama, has [...]