ALG's Daily Grind - California's chickens have come home to roost

Sept. 7, 2012

California's chickens have come home to roost

Gov. Jerry Brown cuts pension benefits by $30 billion, says, "We have lived beyond our means… and this is just one in a series of countermeasures that will be required over the next decade."

Cartoon: The Democrats' party platform

Obama keeps a lid on his record.

Video: ALG's fail button used for the Democratic Convention

Obama, Biden, Clinton and Lewinsky all get their fail button. Check out ALG's Democratic convention coverage...button in hand.

Europe's circular bailout continues

European banks are using government bonds as collateral to borrow money from the ECB just to purchase more government bonds. And at the same time they are also selling many of these same bonds back to the ECB. Confused yet?