In God We Trust

Jesse Says:

28 May 2008 at 3:27 am.

Bush was not “forthright” on Iraq: ex-spokesman

WASHINGTON (Reuters) - Former White House Press Secretary Scott McClellan says in a new book that President George W. Bush “veered terribly off course” and was not “open and forthright on Iraq,” Politico.com reported on Tuesday.

In the memoir due out next week, McClellan also says Bush relied on “propaganda” to sell the war and says the Washington press corps was too easy on the administration during the run-up to it, according to the Web site.

McClellan also takes the administration to task for its performance after Hurricane Katrina devastated New Orleans, saying the White House “spent most of the first week in a state of denial,” Politico reported.

According to the Web site, McClellan blames former Bush senior adviser Karl Rove for the photo of the president seen observing the disaster during an Air Force One flyover.

“One of the worst disasters in our nation’s history became one of the biggest disasters in Bush’s presidency. Katrina and the botched federal response to it would largely come to define Bush’s second term,” Politico quoted the book as saying.

McClellan’s 341-page book, titled “What Happened: Inside the Bush White House and Washington’s Culture of Deception,” takes a much harsher tone than White House officials had expected from the president’s former aide, Politico reported.

The White House declined comment.

http://news.yahoo.com/s/nm/20080528/pl_nm/bush_book_dc_3

Cameron Says:

28 May 2008 at 6:23 am.

Spend $10 Today, Be Out $100K Tomorrow
by Jeffrey Strain
Monday, May 5, 2008provided byTheStreet.com

Little amounts can make a large difference to your finances.

As gasoline and food prices continue to rise, the squeeze to make family budgets balance each month becomes more of a struggle. After the big savings have been found and taken, smaller savings have to be found to make ends meet.

This can be frustrating as it can feel like everyone is being nickled and dimed to death. That’s why it’s important to realize how these small amounts can make a huge difference in your overall financial health.

You’ve likely heard about the little ways to save money a million times. Money-saving advice includes standards like packing your lunch instead of buying it at work, skipping the Starbucks and making your coffee at home and watching videos at home instead of going out to the movies. While you may have grown tired of hearing them, they are still as true as ever and even more important when the economy is struggling.

More from TheStreet.com:

• Use Your Pantry to Pinch Pennies

• Minimum Payments Cause Maximum Financial Pain

• Ten Strategies to Fight Bank Fees

Saving small amounts of money is good advice for everyone, it’s not as essential for people that are currently living well below their means. If you spend $5 on a cup of coffee each day, but you’re still able to put away five times that amount toward your savings, that coffee splurge isn’t going to hurt as much as for someone who isn’t saving anything. For those that are barely making ends meet, spending small amounts of money can be the difference between deep debt and a nice retirement account.

When you are faced with a budget that isn’t balancing, you have two main choices: earn more money or cut more expenses. Unfortunately, many turn to a third alternative. When they can’t seem to make their budget balance, they decide that it’s acceptable to place the difference onto a credit card. Even though the monthly shortfall in the budget is small, placing it onto credit cards is one of the worst financial moves that a person can make. The result will be a downward cycle that will not only keep you in debt, but also create a tremendous amount of stress.

There is often a false assumption that saving $10 and spending $10, although opposite, are relatively the same. For example, if a person saves $10 a day, after a month their account will have $300 while if a person spends $10 a day, that will result in a debt of $300. While on the surface this makes perfect sense, the problem lies in that these numbers fail to take into account the interest that can be gained or charged on this money. It is this failure to understand the concept of compound interest and the dramatic effect it can have that greatly changes these results.

It’s important to understand that it takes very little to start sinking into debt. For most people, spending $10 a day would not be considered extravagant spending by any means, but $10 can result in tens of thousands of dollar of debt. It’s simple to see when you compare the results of what happens when one person saves $10 a day while the other spends $10 a day that he doesn’t have.

If a person were to save $300 a month (approx. $10 a day) and invest it to get a 5% yearly return, that person would have $20,402 in the bank after five years. On the other hand, if a person ends up spending $300 a month more than he has and puts it onto a credit card that he doesn’t pay off over the same 5 year period, that person will owe $36,259, assuming a 26% credit card interest rate. After five years, the difference between saving $10 and spending $10 each day results in a $56,661 gap in net worth between the two.

http://finance.yahoo.com/banking-budgeting/article/105017/Spend-%2410-Today-Be-Out-%24100K-Tomorrow

Angela Rogin Says:

28 May 2008 at 10:04 am.

McClellen had better watch out. They are going to tear him up. This makes me really sad because I have really tried to like Bush. I don’t think he tries to do wrong but somehow a lot of things end up that way anyhow.

Cameron Says:

28 May 2008 at 11:39 am.

E.E. funny you should say that. Here it goes:

Former press secretary’s book bashes Bush

White House aides seemed stunned by the scathing tone of the book, and Bush press secretary Dana Perino issued a statement that was highly critical of their former colleague.

“Scott, we now know, is disgruntled about his experience at the White House,” she said. “For those of us who fully supported him, before, during and after he was press secretary, we are puzzled. It is sad - this is not the Scott we knew.”

Perino said the reports on the book had been described to Bush, and that she did not expect him to comment. “He has more pressing matters than to spend time commenting on books by former staffers,” she said.

The book provoked strong reactions from former staffers as well.

“For him to do this now strikes me as self-serving, disingenuous and unprofessional,” Fran Townsend, former head of the White House-based counterterrorism office, told CNN.

Said former top aide Karl Rove, in an interview with Fox News Channel, “If he had these moral qualms, he should have spoken up about them. And frankly I don’t remember him speaking up about these things. I don’t remember a single word.”

Richard Clarke, another former counterterrorism adviser who also came out with a book critical of administration policy, said he could understand McClellan’s thinking, however. Clarke told CNN that he, too, was harshly criticized, saying that “I can show you the tire tracks.”

McClellan called the Iraq war a “serious strategic blunder,” a surprisingly harsh assessment from the man who was at that time the loyal public voice of the White House who had followed Bush to Washington from Texas.
http://news.yahoo.com/s/ap/20080528/ap_on_go_pr_wh/bush_mcclellan_book