President Obama today rejected GOP criticisms that he has not done enough to address the rising price of oil and that his Administration had helped cause the spike by limiting domestic oil and gas production.
“Last year, American oil production reached its highest level since 2003,” Obama told reporters in a wide-ranging press …
Mark Zandi, the chief economist at Moody’s Analytics, is out with a new report today suggesting that the economy could lose 700,000 jobs by the end of next year if Republicans push through $61 billion in cuts called for in their 2011 budget proposal.
A former McCain adviser and stimulus booster whom John Boehner once called “President …
Slashing $100 billion from the 2011 budget may have appeased the Tea Party caucus and the freshman class, but it’s turning out to be not so comfortable for some Republican moderates.
On Monday New York Republicans Pete King and Michael Grimm sent Speaker Boehner a letter protesting cuts to transit security grants, the COPS program …
New Jersey Gov. Chris Christie took both Republicans and Democrats to task for political cowardice on entitlement reform in his first big Washington speech today at the American Enterprise Institute.
“The President’s not talking about it because he’s waiting for the Republicans in Congress to start talking about it,” said …
Fed Officials Forecast Economic Growth for 2011
…Fed officials say in an updated forecast that they think the economy will grow between 3.4 percent and 3.9 percent this year. That’s an upward revision from their November forecast, which predicted that gross domestic product will grow 3 percent to 3.6 percent.
*Except Republicans who …
Rep. Paul Ryan checks his watch during a House Budget Committee hearing on President Obama’s 2012 budget on February 15. (REUTERS/Jason Reed)
–Citing economic drivers and defense, the White House issues a veto threat over Republican cuts for this year’s budget.
–Stan Collender thinks a government shutdown is likelier than …
The House GOP leadership has allowed a rare open amendment process to the FY2011 budget on the floor this week. Thus far 403 amendments totaling 459 pages have been filed with more to come. Most of the Democratic amendments will try and reinstate many of the $100 billion in cuts. Many of the Republican Study Committee amendments will …
Senator Jeff Sessions, an Alabama Republican and ranking member on the Budget Committee, is an avowed free trader. Yet, Sessions is holding up the renewal of the Generalized System of Preferences, a trade agreement that has been around since the mid 1970’s. The GSP gives preference to 131 developing nations to sell certain goods in the …
Since Barack Obama arrived in office, he has predicted a return to stable deficits in the out years, the sort of message that lawmakers, creditors and the American people like to here. But there is problem: Obama’s projections have consistently been too rosy. So each year, his bean counters must readjust the projections. They keep the …
Starting this week deficits and spending will take center stage in Washington. And barring a total meltdown in the Middle East, they will hog the stage for the next three months. The stakes are high. Odds of a government shutdown are getting better as are the chances the U.S. could default on its debt. Odds that President Obama will …
Four years ago, I did a story about how three “pioneers,” or top bundlers for President George W. Bush, were giving money to Barack Obama.
[Madison Dearborn Partners founder and then deputy chairman of the Federal Reserve Bank of Chicago John] Canning says he’s fed up with the Republican Party. “It’s become a party that’s taken
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Anti-government protesters take part in Friday prayers at Tahrir Square in Cairo February 4, 2011. (REUTERS/Amr Abdallah Dalsh)
–Tens of thousands turn out for “Day of Departure” protests in Cairo.
–The Obama administration is angling to get Mubarak out and Vice President/intel chief Suleiman into power with the army’s …
Protesters watch Egyptian President Hosni Mubarak’s televised speech in Cairo on February 1. (REUTERS/Dylan Martinez)
–Men on horseback and camelback pour into Tahrir Square as pro- and anti- government protesters clash in central Cairo.
–Politically, everything hinges on the military.
