Reuters:
More consumers had trouble making payments on credit cards and other debts during the first three months of the year due to higher food and gas prices, an industry report said on Thursday.
The American Bankers Association said the data showed a downturn from prior quarters and described the most recent quarter as a "soft patch."
"Consumers are feeling insecure about the economy and whether their financial resources can carry them through until conditions improve," ABA chief economist James Chessen said in a statement.
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Thursday, July 07, 2011
The Worst Possible Deal?
Let's start with a look at the real world.
Wednesday, July 06, 2011
Republicans Have an Odd Definition of "Exceptional"
Wikipedia defines the concept of American exceptionalism this way:
Of course, the entry goes on in some detail, but the broad concept is pretty much all there; America is a unique nation for many reasons. Personally, I believe the most important distinction is that we are a nation founded in law -- we exist for a reason. Where other nations may exist because of ethnic or religious identity, America does not. And we aren't defined by our existence within the borders of an ancient monarchy or tribe. "I am American" means something very different from "I am French," for example.
The problem with American exceptionalism isn't that the concept exists -- in fact, it's not difficult to see the validity of the argument. The problem is that it sounds vaguely like an argument that it is not; that the US is better than other nations and entitled to take liberties in the world. It was the Bush administration and their defenders who argued that America the Exceptional had the right to invade Iraq, in defiance of international law.
American exceptionalism refers to the theory that the United States is qualitatively different from other nations. In this view, America's exceptionalism stems from its emergence from a revolution, becoming "the first new nation", and developing a uniquely American ideology, based on liberty, egalitarianism, individualism, populism and laissez-faire. This observation can be traced to Alexis de Tocqueville, the first writer to describe the United States as "exceptional". The term "American exceptionalism" itself was first used by members of the American Communist Party in the 1920s, in reference to their belief that "thanks to its natural resources, industrial capacity, and absence of rigid class distinctions, America might for a long while avoid the crisis that must eventually befall every capitalist society."
Of course, the entry goes on in some detail, but the broad concept is pretty much all there; America is a unique nation for many reasons. Personally, I believe the most important distinction is that we are a nation founded in law -- we exist for a reason. Where other nations may exist because of ethnic or religious identity, America does not. And we aren't defined by our existence within the borders of an ancient monarchy or tribe. "I am American" means something very different from "I am French," for example.
The problem with American exceptionalism isn't that the concept exists -- in fact, it's not difficult to see the validity of the argument. The problem is that it sounds vaguely like an argument that it is not; that the US is better than other nations and entitled to take liberties in the world. It was the Bush administration and their defenders who argued that America the Exceptional had the right to invade Iraq, in defiance of international law.
Tuesday, July 05, 2011
The Anti-Patriots
What is America?That seems to be a major point of contention these days. Is the nation a support system for the wealthy or is it a place were we can say "we're all in this together?" Republicans seem to have taken the former view and have been busy rewriting history to conform with a new political correctness. For them, the American Revolution was a rebellion against taxation by what seems to be a bunch of extremely pious anarchists. Washington Post columnist Richard Cohen -- by no means a wild-eyed liberal -- compares the Republican Party to a cult. It would seem that this cult has developed a new creation story -- one that bears very little resemblance to the actual founding of this nation.
John Nichols looks back at the comments of Thomas Jefferson on the 50th anniversary of our founding and finds an expectation of reason. Far from being a religious zealot, Jefferson mentions God only to dismiss the idea from government. "All eyes are opened, or opening, to the rights of man," Jefferson wrote. "The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately, by the grace of God. These are grounds of hope for others. For ourselves, let the annual return of this day forever refresh our recollections of these rights, and an undiminished devotion to them."
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