It's easy to get outraged at the announcement that AIG will be paying over one hundred and fifty million dollars out as bonuses, after taxpayers have pumped over one hundred and fifty billion dollars into the failing company. But the populist outrage this has sparked off needs to get a little more focused. Because we're about to get lost in a thicket of legalese about "compensation" and "bonuses" and "deferred stock options" and all the rest of it, which only serves to detract from a very basic truth -- which should be the real point of discussion here. This truth is that whatever you call it, and whatever little box it gets entered into on the tax forms, these people make an obscene amount of money. And nobody is even saying (because nobody in the media is even asking) exactly how much money they make. This should be the real target here, because it has much broader implications. Also, because it is a lot easier to fix than just getting back some bonuses.

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So where was the reporting on the improvement of those numbers with the votes on the 2009 budget bill? Where were the stories on the nightly news shows praising Obama for getting about a tenth of Republican House members to vote for the 2009 budget, and almost one in five Republican senators? It's pretty hard to call this anything other than "bipartisan," especially since we lost a few of our own Democrats on the votes as well. Where were the headlines screaming "bipartisan budget passes!" Where were the followup stories to your "sky is falling" theme from a few weeks ago, telling the public that Obama was making definite progress in reaching out to Republicans, and Republicans were responding to do what is best for the country rather than blindly following partisan demands? I must have missed those stories, since you obviously are all such good journalists that you followed up on your previous "Obama is a failure" stories with some "Obama makes bipartisan progress" stories, right?

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Representative Bruce Braley recently announced the formation of a new congressional caucus dedicated to the economic concerns of the middle class. The Iowa Democrat (as reported in The Huffington Post) unveiled the new Populist Caucus last month, and as its chair immediately set to work addressing their concerns in the stimulus package in the House. But since the term "populism" has been used for a variety of movements throughout American history, I thought I'd ask Representative Braley himself what the caucus is all about, and what they're trying to achieve. The interview below is a transcript of our conversation.

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Senate Majority Leader Harry Reid has a very powerful tool at his disposal, but (true to form) he's not even admitting it exists, much less threatening to use it. The tool is called "reconciliation" and means (as I have written about previously) that budget bills which go through a certain committee process cannot be filibustered when they reach the Senate. Democrats would only need 50 votes (and Joe Biden's tiebreaker, if they couldn't get 51) to pass budget bills. Senate Republicans would be denied using their favorite obstructionist tactic, the cloture vote (the modern equivalent of the filibuster). Which may be the only way to pass President Obama's budget without significant parts of it being removed by balky Republicans.

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The Democratic National Committee is running a contest for a slogan (10 words or less) to plaster on a billboard in Rush Limbaugh's hometown. The winner will also receive a T-shirt with their winning slogan on it. Submit your suggestions over at the DNC's site.

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Today is apparently Dr. Seuss Day. Who knew? In the spirit of this not-so-solemn occasion, I considered writing today's entire column in Seuss-ian language.

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The Republican Party is at a real fork in the road. It is rare, in politics, to be able to see with absolute clarity such dividing points while they are happening, I should point out. Usually these things are analyzed after the fact, when conclusions can be drawn with certainty. But the GOP is now at such a point, and it faces two choices: absolute purity, or some shade or another of pragmatism ("the road less traveled," as it were, for Republicans these days).

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Is President Barack Obama going to actually follow through on a vague promise he made on the campaign trail -- to fix the inherent unfairness of Warren Buffett paying a smaller percentage of his income in taxes than his secretary does? Call it the Buffett Conundrum: multimillionaires (and even some multibillionaires) pay less than half the tax rate as the employees who work for them (who make far less in income). But now, Obama has leaked his first budget outline, and it appears he is serious about attempting to fix this tax policy travesty.

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We'll get to Rick Santelli, his CNBC rant, and the White House's reaction in a bit, I promise. But I've got to start with a rant of my own, over what just happened with California's budget. Feel free to skip to the next section if you'd like, but the issue could have national implications.

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About a week ago, White House press secretary Robert Gibbs got off a good line about the progress of the stimulus package: "The sausage race is the beginning of the next inning. So just stay tuned." This was about halfway through the bill's legislative process. Not only did he declare an opening to Baseball Metaphor Season, he also rather ingeniously alluded to Otto von Bismarck's well-known warning that the public should not look too closely at how laws and sausages are made.

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