Buying Bad Loans; Gas Tax?; The American Military Adventure in Iraq
Buying Bad Loans
The Obama Administration is taking another shot at freeing up cash flows, saying the Treasury will team up with private investors in buying up a half-trillion of bad bank assets to ease credit markets. The stock market has rallied this morning as a result. Will this finally work to rejuvenate the economy?
Gas Tax?
In a television appearance yesterday, Governor Schwarzenegger called for increased federal spending on infrastructure projects. In order to pay for it, he said that raising the federal gas tax is something that should be looked at. The federal tax on gas is currently 18.4 cents per gallon. Is raising the gas tax a good way to pay for infrastructure? Larry Mantle finds out.
The American Military Adventure in Iraq
Despite promises by the Obama administration to end the Iraq war in less than a year and a half, author Thomas Ricks believes that the war will be over far later than sooner. In his new book "The Gamble", Ricks sheds light from his international experience into the war, giving readers the intimate details as to what really went on in Iraq, and why he believes that Americans will still be in the war after Obama leaves office. Ricks reveals Gen. Petraeus's involvement in the surge and the battles he faced with insurgent forces, as well as the battles he faced within members of his own military. Larry talks to Ricks about his illuminating and insightful book that help unravel some of the mysteries surrounding the Iraq war.