Stocks Plunge on Fears of Global Turmoil  —  What began as a relatively weak day in the stock markets ended in the worst rout in more than two years, as investors dumped stocks amid anxiety that both Europe and the United States were failing to fix deepening economic problems.

Reid announces deal to end FAA furloughs  —  The Senate will pass the House's bill to fund the Federal Aviation Administration through September to end the week-and-a-half-long partial shutdown of the agency, Senate Majority Leader Harry Reid (D-Nev.) announced Thursday.

If Conservatives Were Right About the Economy  —  Further to yesterday's post about the respective economic acumen of the Wall Street Journal editorial page vs. Prof. Paul Krugman:  —  My conservative friends argue that the policies of Barack Obama are responsible for the horrifying length and depth of the economic crisis.

Happy birthday?  —  How much don't we know about Barack Obama as he nears the end of his third year of White House occupation?  —  Well, he claims today is his 50th birthday.  —  Yet, incredibly, it is still only an unsubstantiated claim - and, perhaps, more suspect than ever.

DEBT DEAL DOESN'T RESCUE OBAMA FROM FLORIDA CRASH, QUINNIPIAC UNIVERSITY POLL FINDS; ROMNEY CLOSES GAP IN 2012 PRESIDENTIAL RACE  —  The national debt ceiling deal does not rescue President Barack Obama's crashing job approval rating in Florida as he gets a negative 44 …

Inside the Huntsman ‘drama’  —  A blistering internal feud in the Jon Huntsman presidential campaign is erupting into public view, with dueling camps trading charges and an exodus of campaign officials.  —  And now, a longtime family friend tells POLITICO that Huntsman's wife and father fret …

Cartoonist Targeted With Criminal Probe For Mocking Police  —  RENTON, Wash. — The Renton City Prosecutor wants to send a cartoonist to jail for mocking the police department in a series of animated Internet videos.  —  The “South-Park"-style animations parody everything from officers having sex …

Rates of Wrath  —  Not good news in stock markets — but you really have to look at the bond markets to get the full awfulness of the situation.  —  The US 10-year bond rate is now down to 2.5%.  So much for those bond vigilantes.  What this rate is saying is that markets are pricing …

Dow Down 500: Should Obama Resign?  —  The worldwide market plunge since the signing of the U.S. debt agreement tells us one thing above all: Almost no one on the planet has confidence in the leadership of Barack Obama.  —  A CEO with such a disastrous first three years as our president …

Congress reaches deal on FAA shutdown  —  Congressional leaders reached agreement Thursday on stopgap funding for the Federal Aviation Administration, ending a stalemate that cost 4,000 furloughed federal workers almost two weeks of pay and drained more than $300 million from the Treasury.

What Caused The Deficit?  A Reply To Megan McArdle  —  One of the most effective Republican themes of the last two years has been blaming President Obama for the explosive growth in the budget deficit since 2009.  The accusation that “Obama's spending binge” has blown up the deficit …

Even Marked Up, Luxury Goods Fly Off Shelves  —  Nordstrom has a waiting list for a Chanel sequined tweed coat with a $9,010 price.  Neiman Marcus has sold out in almost every size of Christian Louboutin “Bianca” platform pumps, at $775 a pair.  Mercedes-Benz said it sold more cars last month …

Time for Obama to be feared by the Tea Party  —  Progressives and other peeved supporters of President Obama who aren't happy with the all-cuts-no-revenue deal to raise the debt ceiling need to see it as the beginning of a very long (and necessary) process to get the nation's fiscal house in order.

Disapproval Rate for Congress at Record 82% After Debt Talks  —  The debate over raising the debt ceiling, which brought the nation to the brink of default, has sent disapproval of Congress to its highest level on record and left most Americans saying that creating jobs should now take priority …

Obama's big drags  —  The politics of the debt fight were a drag for President Barack Obama, yanking his popularity to new lows.  Here's an even bigger drag: Obama emerges from the months-long fracas weaker - and facing much deeper and more durable political obstacles - than his own advisers ever imagined.

U.S. incomes fell sharply in 2009  —  (Reuters) - U.S. incomes plummeted again in 2009, with total income down 15.2 percent in real terms since 2007, new tax data showed on Wednesday.  —  The data showed an alarming drop in the number of taxpayers reporting any earnings from a job …

So What Now?  —  The stock market seems to be telling us that all the classical ways of reviving a moribund economy have been exhausted: We have hit near rock-bottom interest rates that cannot go much lower; we have borrowed about as many trillions as our credit is worth without any realistic plan …

Satirical mints poking fun at Obama pulled from UT bookstore  —  Web Search powered by YAHOO! SEARCH  —  PHOTO BY SAUL YOUNG, COPYRIGHT © 2011 // BUY THIS PHOTO  —  Boxes of breath mints, like this one pictured at Vice Chancellor for Communication Margie Nichols' office on Wednesday …

Why defense spending should be cut  —  The scary aspect of the debt deal meant to force all of Washington to its senses is the threatened cut to defense spending.  If the congressional “super-committee” cannot agree on cutbacks of $1.5 trillion, the guillotine will fall and half …

Presidential Power  —  I apologize in advance for indulging in a wonky process post yet again today ("more boy talk," as Twitter follower Stella calls it), but I want to repeat a point that I haven't made for a while.  It got kicked off by this tweet from Dave Roberts:  —  My answer: No, he just has the easiest job.