Word: hike
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...Sounds reasonable, right? It also walked a very fine line. Hard money is the fund-raising category in which Democrats still trail Republicans by a considerable margin. So they were understandably leery of doubling or tripling that margin of defeat. On the other side of the aisle, however, a hike in hard-money limits may have been the minimum price for Republican support - which McCain dearly wanted, especially when that non-severability vote comes around sometime Thursday...
...tripling of the hard-money limits was fought for by Republicans as a long-overdue inflation adjustment, if nothing else. McCain was willing to talk about it - he'd discussed a compromise along those lines with conservative Republican Don Nickles - but the limits hike was something of a dealbreaker for Democrats, who lag far behind the Republicans in raising that sort of cash. Compromise can wait - the amendment went down...
...Greenspan's critics, who drew blood for the first time in years after the Fed's last interest-rate hike had dramatic consequences (Greenspan denies being wrong about fighting phantom inflation while tech stocks crashed to earth all around him), will never let him live it down. And when the Greenspan-adoration bubble bursts, it'll make bigger global economic news than the NASDAQ...
...Faculty should reject the proposal to hike term-bill fees. While we disagree with the students who voted against the higher term-bill, their position is understandable: the term-bill may not have increased since 1988, but neither has the number of undergraduates. Students are perfectly capable--far more capable than their professors--of determining for themselves how much they value extracurricular groups, and there is no reason to reject a clear student mandate...
While any increase in costs is always marked by opposition, particularly in light of the recent 3.5 percent tuition hike, this increase is a valuable one of which the effects will be immediately visible. Most undergraduates may not know where their $34,269 per year goes, especially in the context of Harvard's $19 billion-plus endowment, but they will be able to observe first-hand the results of more money for their on-campus organizations. Furthermore, the fee is optional, and students who choose not to pay it are by no means required...