Yesterday, the GOP rolled out its alternative “budget”. Under the Republican plan, the top marginal tax rate would be slashed from 35 to 25 percent, facilitating a dramatic transfer of wealth up the economic scale. Anyone making more than a $100,000 would pay the top rate; those under would pay 10 percent.

This is the only concrete proposal in the budget, so far. It’s incredible that they continue to push the tired old trickle-down economic theory, which any reasonable person would acknowledge has failed miserably and has only resulted in the biggest wealth grab in history.

From MSNBC:

Durable goods orders rise unexpectedly

WASHINGTON – Orders to U.S. factories for big-ticket manufactured goods unexpectedly rose in February after a record six straight declines.The Commerce Department said Wednesday that orders for durable goods — manufactured products expected to last at least three years — increased 3.4 percent last month, much better than the 2 percent fall economists expected. It was the first advance since July and the strongest one-month gain in 14 months.
Last month’s strength was led by a surge in orders for military aircraft and parts, which shot up 32.4 percent. Demand for machinery, computers and fabricated metal products also rose.

February new home sales rise unexpectedly
WASHINGTON – The government says new home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year’s levels.
The Commerce Department says sales rose 4.7 percent in February to a seasonally adjusted annual rate of 337,000 from an upwardly revised January figure of 322,000. Even after the revision to January’s sales results, the month remained the worst on records dating back to 1963

Also, the DJIA has gained almost a thousand points in the last month.

Could the various stimulus and bailout actions be having a positive effect? To early to tell, to be sure, but it is encouraging.

Today, in a rare event, the Dow Jones index closed up 379.44 points, or 5.8%, to 6,926.49.

The Standard & Poor’s (S&P) 500 rose 6.4%.

The technology-based Nasdaq index soared by 7%, closing the day at 1,358.28 points.

Since the right is now blaming President Obama for the recent decline in the market, is it now fair to thank him for the day’s gains?

I’ve recently watched the following movies and recommend them to anyone:

• Burn After Reading – Clooney, Malkovich and Pitt in a hilarious, yet somewhat pointless, comedy. You can tell these guys were having fun making this movie.
• Tropic Thunder – a hilarious comedy about a group of actors making a war movie which takes aim at Hollywood. Stupid a times, but hard to resist.
• Slumdog Millionaire – I was skeptical at first, but I really enjoyed this award winner.

“…aggressive and bombastic, cutting and sarcastic, who dismisses the concerned citizens in network news focus groups as “losers.” With his private plane and his cigars, his history of drug dependency and his personal bulk, not to mention his tangled marital history, Rush is a walking stereotype of self-indulgence”

David Frum in the National Post, March 3rd 2009

Rush Limbaugh is a big fat idiot is the title of a book by Al Franken. Maybe if he ends up losing his Senate race, Al can publish a new edition for 2009. There should be plenty more to talk about.