“Now that Obama appears poised to push substantial parts of Social Security and Medicare over the ‘fiscal cliff’—in exchange for a paltry, largely symbolic, increase in the top marginal income-tax rate—we might ask whether liberals will once again rise to Obama’s defense, no matter how indefensible his actions,” writes John R. MacArthur, publisher of Harper’s Magazine.
Freddie Mac and Fannie Mae were always more foul than fish, says Robert Borosage, and the bailout announced by the Treasury secretary over the weekend will mean “private speculators, having driven the stock down, will clean up on the upside.”