Think Progress

IRAQ -- BUSH SIGNS DEAL FOR ENDLESS, UNQUALIFIED, 'ENDURING' MILITARY PRESENCE IN IRAQ: The New York Times recently reported that the Bush administration has "scaled back" its benchmarks for political progress in Iraq, instead "focusing their immediate efforts on several more limited but achievable goals." Yesterday, the administration announced one of its goals: an endless, unqualified, "enduring" presence in Iraq. President Bush and Iraqi Prime Minister Nouri al-Maliki "signed the new U.S.-Iraq 'declaration of principles' during a secure video conference Monday morning." The key principle in the agreement, according to the White House, is that "Iraq's leaders have asked for an enduring relationship with America, and we seek an enduring relationship with a democratic Iraq." Iraqi officials told the Associated Press that "Iraq's government will embrace a long-term U.S. troop presence in return for U.S. security guarantees as part of a strategic partnership." The White House's determination to establish a permanent presence in Iraq contradicts its long record of declarations against permanent bases. In a press briefing yesterday, White House war czar Gen. Doug Lute said the new long-term occupation plan won't require Congress's approval. "We don't anticipate now that these negotiations will lead to the status of a formal treaty which would then bring us to formal negotiations or formal inputs from the Congress," said Lute.

ECONOMY -- HOUSING CRISIS USHERS IN ECONOMIC DOWNTURN: On Sunday, former Treasury Secretary Lawrence Summers wrote a column in the Financial Times warning that, with the subprime housing crisis leaking to all sectors of the economy, "the odds now favour a US recession that slows growth significantly on a global basis." Today, the U.S. Conference of Mayors released a report predicting that "the deepening housing crisis will cut economic growth by more than 25 percent in 143 U.S. metropolitan areas by next year and by more than a third in 65 metro communities." The study also reported that "the property value of U.S. homes will fall by $1.2 trillion, and 'at least' 1.4 million homeowners will lose their properties to foreclosure in 2008." Stocks are down 10 percent from their peak in October, another effect of the housing crunch. "Investors in stocks and bonds are paying prices that indicate they believe a snowballing housing crisis and worsening credit crunch will soon tip the U.S. economy into a recession, analysts said."

ETHICS -- AS HALLIBURTON CEO, CHENEY EVADED U.S. LAW TO DO BUSINESS WITH IRAN: In an interview published yesterday with Fortune magazine's Nina Easton, Vice President Dick Cheney conceded that as Halliburton CEO, he had opposed unilateral sanctions on Iran, even though he now strongly supports them. Cheney explained that as a private sector official, he didn't have any responsibility to "worry about" the impact of his company's dealings with the country. What Cheney conveniently neglects to mention is that Halliburton evaded U.S. law in order to deal with Iran. The International Emergency Economic Powers Act authorizes the president to block transactions and freeze assets to deal with rogue nations. In 1995, President Clinton signed an executive order barring U.S. investment in Iran's energy sector. To evade U.S. law, Halliburton set up an offshore subsidiary that engaged in dealings with Iran. In 1996, Cheney blasted the Clinton administration for being "sanction-happy as a government." "The problem is that the good Lord didn't see fit to always put oil and gas resources where there are democratic governments," Cheney explained of his desire to do business with Iran. As the Bush administration now presses for tougher sanctions against Iran, Cheney should concede that Halliburton violated the spirit of the law and encourage other U.S. companies not to follow his lead.

While President Bush is attending a Mideast conference in Annapolis this morning, "he won't remain there for long." He "plans to head back to the White House after delivering his opening speech to the diplomats and dignitaries at the U.S. Naval Academy." White House aides said he wasn't planning to offer new American proposals to resolve the conflict.

The Wall Street Journal's Bret Stephens recalls that when House Speaker Nancy Pelosi (D-CA) visited Syrian President Bashar Assad back in April, "President Bush denounced her for sending 'mixed signals' that 'lead the Assad government to believe they are part of the mainstream of the international community, when in fact they are a state sponsor of terror.'" Today, Assad will sit with Secretary of State Condoleezza Rice in Annapolis.

At least 1.4 million homeowners will lose their properties to foreclosure in 2008, while "the property value of U.S. homes will fall by $1.2 trillion," says a new report by the the U.S. Conference of Mayors and the Council for the New American City. The report predicts "deep economic impact from ongoing housing market problems."

In an attempt to put to rest concerns over his ignorance about FISA reform legislation, Time magazine columnist Joe Klein writes, "I have neither the time nor legal background to figure out who's right." Salon's Glenn Greenwald responds by noting "the extreme lack of professionalism and corruption required" for Klein to say he "isn't interested in bothering to find out (and isn't even capable of determining) if anything he wrote was accurate."

USA Today's DeWayne Wikham writes, "While there is still little evidence to suggest that Bush was knowingly involved in this coverup [of the Plame outing], the evidence against Cheney is piling up. ... This trail of lies and deception has put Cheney on the same path that led to Nixon’s impeachment."

"Corporate backers of next year's Olympic Games in China have done little or nothing to pressure Beijing to use its influence to end the genocide in Darfur," according to a new report. "The corporate Olympic sponsors are engaged in a form of silent complicity with the Chinese government in its support of the genocide," the report's author, Ellen Freudenheim, said.

The lawyer for Brent Wilkes, the contractor convicted of bribing former congressman Randy "Duke" Cunningham, has asked a federal judge to approve subpoenas for journalists from NBC News, AP, and the Wall Street Journal who reported on the scandal. He wants them "to reveal how they obtained secret information relating to the federal investigation."

The Politico writes of Sen. Trent Lott's (R-MS) lucrative lobbying career prospects. "A near-certain scenario has him teaming up with his son, lobbyist Chester Lott, founder of Lott & Associates. Another, still fluid, idea is partnering with former Louisiana Democratic Sen. John Breaux, who is said to be mulling a departure from the lobbying powerhouse Patton Boggs."

And finally: Attention singles! Foreign Policy magazine has put together a list of the "most eligible world leaders." Topping the list is French president Nicholas Sarkozy, who is "always the center of attention." Also making the cut: Condoleezza Rice ("the most powerful woman in the world"), Jigme Khesar Namgyal Wangchuck ("Prince Charming"), Michelle Bachelet ("tough, smart, and ambitious"), and Hugo Chavez ("a hopeless romantic").