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...Hollywood star best known for playing the Terminator and Conan the Barbarian, Arnold Schwarzenegger was elected governor of California six years ago to slay the deficit dragon that has been terrorizing the state for most of the past decade. But in his final budget proposal, on Jan. 8, Schwarzenegger, a Republican, struggled to address a $19.9 billion budget gap over the next 18 months, unveiling plans that include what he calls "draconian cuts" to social services. The man who used to be hailed as the Governator didn't reference any of his action movies to describe his battles with...
...while the number of bank loans is falling, the well of credit for corporations is far from dry. In fact, the 22 largest banks in the Treasury's Troubled Asset Relief Program issued or renewed $127 billion in business loans in November, roughly the same as five months ago. And bank lending, now at $6.7 trillion, is at the same level it was at the end of 2007, when the economy was still expanding. That would be a problem if we had serious inflation. When asset prices rise and loan values don't, that can signal economic stagnation...
...years ago, Iris Robinson caused an outcry when, during a BBC radio interview, she described homosexuality as "an abomination" and suggested that gay people could be "turned around" through counseling. A few days later, she reiterated her views, telling a TV interviewer that "just as a murderer can be redeemed by the blood of Christ, so can a homosexual." Gay-rights activists accused her of inciting hatred, and scores of complaints were lodged with the police. According to the Spotlight report, Robinson's relationship with McCambley started before those comments were made. (See pictures of the British army leaving Northern...
Three years ago, as you write, a Federal Government report noted that there is a "remarkable absence of accountability mechanisms to ensure that colleges succeed in educating students." What accountability mechanisms should there be? I think we should start with the easy things. You should be accountable for graduating a reasonable percentage of your students compared with other universities that have similar students. Harvard has the highest graduation rate in the country, at 98%. That's probably too high. I'm pretty sure you'd have to shoot somebody not to graduate from Harvard. Not all colleges could reasonably...
...struggling with that dilemma. Senior national-security officials met in mid-December to figure out what to do with the 90-odd Yemeni prisoners who make up the largest contingent of the 200 or so remaining detainees at the offshore facility. A special task force set up a year ago concluded last fall that the U.S. doesn't have sufficient evidence to successfully prosecute any of the Yemenis in either civilian or military courts. Still, the task force concluded, about half of the prisoners are devoted members of al-Qaeda and therefore too dangerous to release. (See pictures...