All is quiet on the Washington front. But don’t let the lull in partisan warfare fool you. In two weeks Congress returns from its summer recess, after hearing from constituents who hold the institution in lower esteem than used car salesmen, and view eating Brussels sprouts, enduring traffic jams, and having colonoscopies less daunting prospects than continuing to watch this Congress in action. Nevertheless, few members of this despised institution are likely to lose their seats in November. Turn the rascals out, but not my rascal, seems to be the prevailing view.Read more
In Germany for the Munich Security Conference, Vice President Joe Biden sounded relieved. "Read more
"President Obama's 'Plan' Adds $8.6 Trillion to the Debt," the minority side of the Senate Budget Committee contends. Here's a chart put together by the Republicans on the committee to explain how Obama's plan adds to the debt:Read more
Senate minority leader Mitch McConnell blasted President Barack Obama from the Senate floor this morning for not offering any specifics on spending cuts.
"With the Fiscal Cliff fast-approaching, I feel the need to point out something this morning that’s perfectly obvious to most Americans, but which Democrats in Washington still don’t seem to grasp. I’m referring to the fact that any solution to our spending and debt problem has to involve cuts to out-of-control Washington spending," said McConnell.Read more
Senator John Barrasso of Wyoming believes President Barack Obama is "comfortable going off the [fiscal] cliff."Read more
The robocalls have stopped. Television ads have gone from attacks on candidates to the usual pitches for medications and exercises that will enable you to live forever. Political post-mortems are under way. And the 2016 wannabees are lining up financing and staffs for their runs at the Democratic and Republican nominations.Read more
President Barack Obama used his new political politician coming off his reelection win to assert his political position ahead of fiscal negotiations with Congress.
"On Tuesday night, we found out that the majority of Americans agree with my approach," Obama said in a statement delivered this afternoon in the White House. "And that includes Democrats, independents, and a lot of Republicans across the country, as well as independent economists and budget experts."Read more
One thing is certain in these waning hours of the presidential and congressional election campaigns: it is Barack Obama and the current members of Congress who will have to make the initial decision on what to do about what we have come to call the fiscal cliff.Read more
By the end of this year, the federal debt is expected to be $16.2 trillion, which is $6.2 trillion more than when President Obama first came into office four years ago. Moreover, new analysis by the Republican side of the Senate Budget Committee finds that, over the next 4 years, if Barack Obama remains president and his budget is enacted, $4.4 trillion will be added to the federal debt.Read more
Thirteen years ago? Or thirteen years from now?
Some perspective on the state of the current presidential campaign: This past week, when the national political debate wasn’t focused on the origins of U.S. Olympic uniforms, it was dominated by questions about the date of Mitt Romney’s retirement. Barack Obama’s campaign says it was a decade ago; Romney says it was 13 years ago.Read more
New Jersey Republican governor Chris Christie blasted President Obama in a speech earlier today at a conservative conference in ChicagoRead more
For all of the ink spilled over the federal government's haphazard reaction to the 2008 financial crisis, few authors match David Skeel's clarity and insight.Read more
A report issued last week by the OECD (Organization for Economic Cooperation and Development) finds that the average tax burden on income in the United States has been declining in recent years, in sharp contrast to the trend in the other OECD countries.Read more
During tonight’s GOP debate, Ron Paul took exception to Rick Santorum’s claim that Paul had finished “in the bottom half of Republicans this year” in ratings published by the American Conservative Union (ACU).Read more
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