According to Bloomberg, Ben Bernanke and the Federal Reserve have pledged “to keep the main interest rate near zero for an “extended period” and confirmed that emergency measures to prop up the housing market will end as planned this month.”

Glenn Beck vs. Keith Olbermann: Watching either of their shows brings us uncomfortably near the absolute epitome of douchebag, but alas, when push comes to shove, only one can be the victor. Here I will discuss their individual merits and try to determine who can rightfully claim the throne in all of its douche-filled glory… But when the chips are down, we all know that it is either Keith Olbermann or Glenn Beck who will hold the crown of greatest douchebag in the history of the world.

Perhaps losing 36,000 jobs is better than expected, or even a sign of a recovery (which I doubt), but at best it’s a sign that things aren’t as bad as they were, not good news.

If you didn’t think there was a wink and a nod relationship between large banks and the feds, the “Volcker Rule” should serve as an acknowledgment. Because lending and credit is so crucial to the economy, financial institutions know the government will backstop them during crisis mode in the industry.

Chris Edwards of the Cato Institute took a little trip back in time to check the government’s budget accuracy… they get an F minus. As Walter Williams points out here, this is nothing new, but in 2001, the Bush Administration forecasted that by 2010, the Federal government would have a $2.71 trillion dollar budget. According to Obama’s budget estimate, it will be $3.83 trillion dollars! The following chart shows the real budget vs. the forecast.

Treasury Secretary Timothy Geithner discusses the burdens of his position, why he felt it was necessary to bailout the financial system and the paternal role taken by the federal government:

What’s disheartening is the American health care system desperately needs reform, but first we’d have to stop the wrong reforms being proposed before actually fixing the system. It’s a long road ahead.

Brilliant:

Here’s the problem: the United States has lost approximately 3.3 million jobs since the stimulus package was passed. Unemployment has risen from 7.6% to over 10%. Furthermore, if you include people who are underemployed (working part-time even though they’d prefer to work full-time) or have simply given up on finding a job, unemployment is closer to 20%. So how, exactly, does Obama know he’s saved 640,000 or a million jobs or whatever it is? The exact methodology is difficult to ascertain, but the best explanation I can come up with is an extremely creative imagination.

This summer, the IRS rewarded Nicolas Cage for his “efforts” with a $6 million tax lien on his New Orleans’ properties for unpaid taxes. So the IRS, lead by tax cheat Timothy Geithner, is cracking down on Nicolas Cage for unpaid taxes. How ironic. Or perhaps, “how fitting” would be a better way to put it. After all, I think Tim Geithner, our spend-happy congress, the Federal Reserve, George Bush and Barack Obama can give Nicolas Cage a run for his money (what little is left of it) when it comes to irresponsible spending. Honestly, look at what our government has been doing: