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August 09, 2011 5:30 PM Tuesday’s Mini-Report

By Steve Benen

Today’s edition of quick hits:

* That’s a 1,000-point swing over 24 hours: “At the close, the Dow Jones industrial average was up 429.92 points, or nearly 4 percent, at 11,239.77. Standard & Poor’s 500-stock index was up 53.07 points, or 4.74 percent, at 1,172.53, the largest point gain in a day since March 2009, and the Nasdaq was up 5.29 percent, or 124.83 points, at 2,482.52.”

* Investors don’t seem to give a damn about the S&P downgrade.

* The White House this morning canceled all public events for the day. Now we know why: “President Obama traveled to Dover Air Force Base in Delaware on Tuesday to pay his respects to the 30 American servicemen killed in a helicopter crash in eastern Afghanistan over the weekend.” The president was joined by Defense Secretary Leon Panetta, Joint Chiefs Chairman Mike Mullen, Ray Mabus, the secretary of the Navy.

* On a related note, the president spent about 70 minutes meeting informally with approximately 250 family members and fellow servicemen and women after the caskets were brought off the plane.

* London: “Prime Minister David Cameron pledged Tuesday to flood the streets of London with 10,000 extra police officers, and said that Parliament would be recalled in emergency session, after rioting and looting spread across and beyond London for a third night in what the police called the worst unrest in memory.”

* This news will get buried, but it’s important: “President Obama today will announce new fuel efficiency standards that will save American businesses that operate and own commercial vehicles approximately $50 billion in fuel costs over the life of the program. These work trucks, buses, and other medium- and heavy duty vehicles will be required to meet fuel efficiency and greenhouse gas emission standards for the first time ever beginning in 2014.”

* National Review, a once-proud publication, ran an item today arguing President Obama might secretly support the London riots based on a bizarre interpretation of a 1992 press release found in an ACORN archive. How very sad.

* If we put aside congressional circumstances and Republican radicalism entirely, Michael Hiltzik’s case for additional stimulus makes an enormous amount of sense.

* Education Management Corp. draws scrutiny: “The Department of Justice is suing one company of American for-profit colleges, arguing that the corporation violated the rules of federal financial aid.”

* This guy really does need help: “In an interview on Frank Gaffney’s radio program last week, Rep. Louie Gohmert (R-TX) criticized defense cuts included in the recent bipartisan budget deal and suggested lawmakers in Washington were accessories to Osama bin Laden’s goal of bankrupting the country.”

Anything to add? Consider this an open thread.

Steve Benen is a contributing writer to the Washington Monthly, joining the publication in August, 2008 as chief blogger for the Washington Monthly blog, Political Animal.

Comments

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  • martin on August 09, 2011 5:38 PM:

    President Obama traveled to Dover Air Force Base

    Something, let us never forget, the President who started these wars NEVER did.

  • T2 on August 09, 2011 5:39 PM:

    two thoughts:
    Todays DJ market activity is why privatizing Social Security is a bad way to ensure a happy retirement.

    George W. Bush refused to allow news coverage of returning soldiers killed in battle.
    Barack Obama goes to the AFB to pay his respects to the fallen and their families.

  • patrick II on August 09, 2011 5:53 PM:

    On the Gohmert story -- Stiglitz estimates we have spent 3 trillion on anti-terrorism. There are 6 billion people in the world. That's about $500 per person in the whole world. Do we feel safe yet?

  • Joe Friday on August 09, 2011 6:14 PM:

    "London: Prime Minister David Cameron ... said that Parliament would be recalled in emergency session"

    Which begs the question, why the hell isn't Obama calling the Congress back into special session instead of waiting until they return from vacation ? There are certainly grounds for it.

  • Texas Aggie on August 09, 2011 6:16 PM:

    Gohmert actually may be right, and he is one of the worst offenders. Osama said at the very beginning, even before 9/11, that he intended to do to the US what the jihadists had done in Afghanistan to the Russians, bleed them dry financially by dragging them into endless military conflict. Since 9/11 we've been spending money like there's no tomorrow (and at the rate we're going, there may not be) on the military. In the process we've completely abandoned the well-being of Americans so that the people making the sacrifices are the poor and the elderly, not the MIC war profiteers.

    Any congresscritter who votes to increase the Pentagon's budget for anything except to bring the soldiers home needs to be read Gohmert's statement. At the very least, they are fellow travelers or "useful idiots" for the jihadists. There are a few that I suspect actually want to make the US fail, although not for Islamic reasons.

  • patrick II on August 09, 2011 6:36 PM:

    @Texas Aggie: "Gohmert may be right"

    Well, Gohmert is half right but totally incoherent. He is right that bin Laden wanted to bleed us dry with large military spending -- but Gohmert went on to say therefore we shouldn't cut military spending

    Gohmert:"And then when people see that we've put our own defense out there on the table and are willing to cut it by hundreds of billions of dollars they gotta be thinking we're nuts."

    Just dumber than a box of rocks.

  • Joe Friday on August 09, 2011 7:10 PM:

    Critics are complaining that the NEWSWEEK cover photo of Michelle Bachmann makes her LOOK crazy ?

    Are they kidding ?

    The woman is loon.

  • zandru on August 09, 2011 7:18 PM:

    Gohmert (class of 1975, just like me) gives a bad name to Aggie jokes.

    Imagine this man in his former occupation - judge.

  • Erin on August 09, 2011 8:31 PM:

    Just to point out, down 500+ points one day and up 400+ the next day does not make an almost 1,000-point swing over 24 hours. It's actually just a 400-point swing.

  • exlibra on August 09, 2011 8:51 PM:

    While we're waiting for the Wisconsin polls to close and the results to start trickling in...
    http://tpmdc.talkingpointsmemo.com/2011/08/reid-picks-murray-kerry-baucus-for-super-committee----heres-the-upshot.php?ref=fpb
    TPM is surprised by Kerry being one of the picks. Me, I think of his "Tea Party Downgrade" this past Sunday, and take heart; perhaps his military stature won't let him back down from that position :)

    "ratedge den". Depends, entirely, on whom McConnell nominates, dear Craptcha. I don't see any of Reid's picks as likely to rat us out. Of course, I've been wrong before (many times)...

  • Scamp Dog on August 09, 2011 9:15 PM:

    The interesting thing about the NRO was its comment section: a good fraction of the NRO commenters were blasting Kurtz for coming up with his conclusions based on the thinnest of "evidence." It almost makes me think that all conservatives may not be nuts (not that the non-nut conservatives have any influence on the movement).

  • Grits N' Gravy on August 09, 2011 9:24 PM:

    Something, let us never forget, the President who started these wars NEVER did.

    President Bush called the family of every single servicemen killed in action. Every. Single. One.

    Jackass.

  • Joe Friday on August 09, 2011 9:28 PM:

    exlibra,

    "TPM is surprised by Kerry being one of the picks. Me, I think of his 'Tea Party Downgrade' this past Sunday, and take heart; perhaps his military stature won't let him back down from that position :)"

    Murray and Kerry should be fine. It's Baucus that worries me. In the past, he's been waaaaay too ready to give away other peoples pensions, retirement, and healthcare.

    Hopefully Reid got something more than just a pinky-swear from him.

  • Sparko on August 09, 2011 9:56 PM:

    Grits and gravy? Really. Is taht supposed to be some folksy handle that lends it credibility? Bush II might have called some families, but he never called them all, and by God, was never to be seen with a flag draped casket. They forbid anything that could accurately reflect the cost of the war.

  • bob on August 09, 2011 9:57 PM:

    NR was "a once proud publication"? Arrogant and stupid, yes, but never anything to brag about. As Brad DeLong has pointed out, with quotes and citations, NR supported South African apartheid as well as U.S. racism back when Buckley was in charge. NR has always made slime look good.

  • Joe Friday on August 09, 2011 11:11 PM:

    Grits N' Gravy,

    "President Bush called the family of every single servicemen killed in action. Every. Single. One."

    Even if true (which I find highly dubious), the reference was to Chimpy Bush actually bothering to get up out of his golf cart and attend the arrival of the remains at Dover.

  • exlibra on August 09, 2011 11:30 PM:

    Joe Friday, @9:28

    My reading, too; if there's a loose tooth in the trio, it's Baucus, not Kerry. I do agree with their assessment of Murray, though.

    "Townes ssaticat". Agree, if the town in question is DC. A lot of sated (fat, even) cats there.

  • Friend of Wisconsin on August 10, 2011 12:15 AM:

    Benen notes " National Review, a once-proud publication, ran an item today arguing President Obama might secretly support the London riots based on a bizarre interpretation of a 1992 press release found in an ACORN archive. How very sad."---------------------------------------------------

    I tried to post a comment on their shameful spin, but I do think they are more apt to censor liberal view points these days.
    My comment did not appear.

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