If President Obama did indeed schedule the release of his corporate tax revamp Wednesday to steal the spotlight from Mitt Romney’s tax plan rollout – as some critics charge – it just might have worked. The Obama plan was the top story of the day.
But perhaps more importantly, Obama neutralized corporate taxes as an election year issue by aligning himself with Republican positions.
Not since Vietnam has the United States sat down with an enemy it was fighting on the battlefield and negotiated an exit from war. That long-standing policy might end this year if a carefully choreographed diplomatic dance takes U.S. and Afghan officials to a negotiating table with the Taliban.
As Reuters Washington correspondent Missy Ryan explains, President Obama’s peace gambit has the potential to be a significant development for U.S. foreign policy. But it turns out it is a policy borne out of necessity: two years ago, the Pentagon thought the Taliban could be defeated militarily, and today, it’s all too clear they aren’t going away.
Nearly 80 percent of the 3,830 U.S. post offices slated for closure later this year are in sparsely populated areas where poverty rates are higher than the national average, according to our findings in the special report “Towns go dark with post office closings.”
Maybe it’s the careful, consensus-oriented system that produces them, but China’s leaders in recent years have not exactly exuded personality. President Hu Jintao is famous for his stiff manner and scripted speaking style. Jiang Zemin was slightly more relaxed, and enjoyed showing off his English language skills and knowledge of U.S. history.
Washington on Tuesday will get its first close look at China’s next president, current Vice President Xi Jinping, who has a reputation for being more open and refreshingly direct than some of his predecessors. It may be too much to hope for a “Deng Xiaoping moment,” a 1979 turning point in Sino-American cultural relations when the diminutive Deng, China’s great modernizer, attended a rodeo in Simonton, Texas, donned a giant cowboy hat and wowed the crowd. Deng was then China’s vice premier.
It was a long slog to the government’s mortgage abuse settlement with top banks, one in which officials slept in their offices and worked round the clock. And yet, a consumer advocate looking out for those who lost homes to foreclosure can only muster an “it’s okay.”
You don’t need an expert to tell you how little of a dent the $25 billion deal makes in a mortgage morass that President Obama reminded us is one of the biggest drags on the economy. It took 16 months to get to a settlement that helps roughly 1 million borrowers, while 11 million Americans owe more money that what their homes are worth. People who lost their homes to foreclosures will get payments of $2,000. Home prices, meanwhile, are still 33 percent lower than 2006.
“Nobody ever thinks I can win anything,” Santorum told a gathering of pastors. “The gift of being underestimated is a great gift.”
As welcomes go, this might be one of the most colorful (and perplexing) in recent memory. One week before he is to help host Chinese Vice President Xi Jinping, U.S. Vice President Joe Biden took a double jab at China’s economic growth prospects and its one-child policy.
“Because of that God-awful one-child policy they have, what happens now is in the next 20 years they’re going to have such an inverse proportion of the number of people working to the number of people retired that there is no way they can sustain that growth,” Biden said.
The Obama administration is known to be methodical when it comes to its messaging. But Defense Secretary Leon Panetta’s declaration that the U.S. combat mission in Afghanistan might end next year seems to have caught people here and overseas by surprise.
Today, everyone from Panetta to White House spokesman Jay Carney to NATO allies tried to tamp down notions that a major policy shift was underway. But many were still scratching their head about whether there is now a new U.S. timetable for winding down a war that is over a decade old.
President Obama went out to Falls Church, Virginia to tout his $5 billion to $10 billion plan to help homeowners refinance. The proposal, sketched out in last week’s State of the Union address, could provide relief to many locked into high rates by their homes’ sagging value. But it doesn’t look like it will overcome Republican opposition.
The day the Congressional Budget Office forecast that the United States is headed for its fourth straight year with a $1 trillion-plus budget deficit, President Obama touted the benefits of big government spending.
His venue? The Washington auto show. His tools? Shiny new American cars, preferably those from General Motors and Chrysler. Those were the two companies that received billions in a 2009 taxpayer funded bailout that has obviously paid off, both for the automakers and the Obama administration.