In the six presidential elections between 1992 and 2012, the Democratic party has regained the solid popular vote majority it enjoyed during the New Deal/Great Society era (1932-64) but relinquished in the six elections between 1968 and 1988.
It took only a tiny drop of .01 percent in fourth quarter GDP to produce another battle in the ideological war that is going on in Washington. Republicans blame it on the president’s spending and deficits, the president and his team on the congressional Republicans they call a “major headwind” and on Fox News for opposing Barack Obama’s plans for more spending and higher taxes. The president says that there is no spending problem and “we don’t have to worry about the debt short term,” Republicans that spending is the problem.
On October 3, 2005, President George W. Bush announced his intention to nominate his White House counsel, Harriet Miers, to succeed Sandra Day O’Connor as an associate justice of the Supreme Court. On October 27, after vigorous statements of opposition from conservatives and quiet expressions of dismay from Republican senators, Miers withdrew her nomination.
In response to the news today that the economy contracted -.1 percent in the final quarter of last year, Democrats are touting the claim that this is "the best-looking contraction in U.S. GDP you'll ever see." The claim was originally made by chief U.S. economist for Capital Economics Paul Ashworth.
Politico reported this morning that "Henry R. Muñoz III of San Antonio -- an Obama bundler and a national chairman of the Futuro Fund, a group of Latino leaders who raised money for the president’s reelection -- is expected to be named DNC Finance Chair, the first Latino to hold the title."
House Republicans earlier today proposed a plan to raise the debt ceiling for only enough time (three months) to allow for Senate Democrats to produce a budget. The reason Democrats, who run the Senate, need to be prodded to propose a budget is simple: The Senate has not passed a budget in 1,360 days.
The last time the Senate passed a budget was April 29, 2009.
In that time, the debt has increased by $5.3 trillion. The amount spent by the federal government in that time is likewise enormous: $13.0 trillion.
Republican senator Ted Cruz of Texas said Thursday that Barack Obama is "high on his own power" with regard to the president's announced efforts on gun control. Speaking on Laura Ingraham's radio talk show, Cruz, who was just elected to the Senate last November, said "this is a president who has drunk the Kool-Aid."
At his press conference today, President Obama showed that he either thinks he can pull the wool over Americans’ eyes through the sheer force of his own outrageous rhetoric, or else he really believes his own rhetoric and is living in a fantasyland. The guess here is that it’s a roughly even mix of the two.
While the press was distracted by the misnamed “fiscal cliff,” we began the New Year with a 13-figure deficit and a 14-figure national debt—the result of today’s Americans borrowing vast sums of money and putting it on future Americans’ tab. The two parties offer rather different explanations for the cause of this unsustainable transfer of wealth from the young (and the unborn) to the old, which the “fiscal cliff” deal—at least on paper—only made worse.