by Charles Lemos, Fri Jul 30, 2010 at 05:04:42 PM EDT
Three U.S. troops died in blasts in Afghanistan, bringing the death toll for July to at least 63 and surpassing the previous month's record as the deadliest for American forces in the nearly 9-year-old war. More coverage in the Los Angeles Times.
Florida Gov. Charlie Crist leads the three-way race for the U.S. Senate seat with 37 percent, followed by 32 percent for Republican Marco Rubio and 17 percent for Jeff Greene, the leading candidate for the Democratic nomination, according to a Quinnipiac University poll released today.
In Nevada Senate Race, the Las Vegas Review Journal reports that Senate Majority Leader Harry Reid and Tea Party candidate Sharron Angle are locked in a dead heat. The new survey by Mason-Dixon Polling & Research shows Reid and Angle neck and neck. The Senate majority leader would win 43 percent and Angle 42 percent of support from likely Nevada voters if the election were held now. The margin of error is plus or minus 4 percentage points . A July 12-14 Mason-Dixon poll showed Reid 7 points ahead of Angle, 44-37 but Angle has countered with ads blaming the Nevada economy on Reid.
Judicial confirmation rates have nosedived in the Obama Presidency as flibusters, anonymous holds, and other obstructionary tactics have become the rule. The Center for American Progress has the story.
The financial blog Credit Writedowns has more on the report by Fed Governor James Bullard on deflation which I covered yesterday. Their post has a great summation of the situation we face:
In our view the case for deflation is a strong one as most of the classic symptoms are present in the U.S. today. Record historic debt is already in the process of deleveraging, and there is still a long way to go. Consumer demand is restrained. There is an excess of labor supply with five people available for every open job. Capacity utilization rates are historically low. Household net worth is far below peak levels. Credit is available only to the most highly qualified borrowers. Money supply has been flat or decreasing despite massive stimulus. All of this is a classic recipe for deflation. We also believe that there is little the Fed can do to avoid the outcome. Japan kept both short and long-term interest rate exceedingly low for many years and ran massive budget deficits with little to show for it, although they did prevent a complete collapse of their economic and financial system. While there is a difference between the U.S. and Japan, two major differences were in favor of Japan rather than the U.S. During most of Japan’s two-decade malaise the global economy was quite strong and Japan was able to support its economy with a substantial amount of exports. Furthermore, Japan started with a 12% household savings rate and was able to run it down, thereby providing some support for consumer spending.
Michael Whitney over at Firedoglake covers the latest madness from Senator Dianne Feinstein of California. Senator Feinstein's “Saving Kids from Dangerous Drugs Act of 2009″ (S. 258) that targets pot brownies and other marijuana edibles preferred by some medical marijuana patients passed the Senate unanimously.