Updated: 5/16/2006; 2:44:45 PM.

Current events
Post-9-11 events and analyses

daily link  Tuesday, September 07, 2004

Bush Unlikely to Fulfill Vow on Deficit, Budget Office Projects: "In the last independent assessment of Mr. Bush's fiscal legacy before the elections, the Congressional Budget Office said that if there were no change to existing law, the federal deficit would decline only modestly from a record of $422 billion in 2004 to about $312 billion in 2009. If Mr. Bush persuades Congress to make his tax cuts permanent, he will fall even farther short of his promise. The federal deficit could reach nearly $500 billion in 2009 and the federal debt could swell by $4.8 trillion over the next decade. The new estimate is the first time that the Congressional agency has projected that President Bush will not be able to fulfill his promise, made last February, to cut the deficit by half. .. The new report is sobering because it arrives at similar conclusions even when analysts made extremely optimistic assumptions about war costs in Iraq and robust economic growth. "

  5:27:28 PM  permalink  

iTunes could hurt RIAA majors:  "The power of the RIAA and its members has always lain in money and marketing. The big record companies were able to pay large advances to top acts, and their marketing organizations were able to make small bands into bigger bands by aggressively promoting them and supporting tours. That was then. Today, technology has taken a lot of the cost out of recording music .. the RIAA's advantage still lies with their ability to take a local group and push it to a national audience.

But then Apple announced its iTunes affiliate program, .. paying a nickel to me if through my web site, you download some song I say is great. .. Apple in the last year has signed deals with more than 300 independent record labels, most of them not big enough to do much promotion. But now they don't have to because that promotion will be handled by mtv.com and every music web logger, now that they have a material incentive to make recommendations and print lists. "

  10:26:38 AM  permalink  

The unwinnable war: "There is the single most troubling aspect of the war in Iraq. We launched it against the wicked Saddam Hussein, yet the majority of so-called "insurgents" against whom our forces are arrayed hated Hussein more than we did. We are killing people by the thousands who threaten absolutely nothing of ours."  9:12:27 AM  permalink  

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Copyright 2006 © Ken Novak.
Last update: 5/16/2006; 2:44:45 PM.