When it comes to fixing the housing market in this election year, it’s a battle between the “ineffective” and the “do-nothing.”
President Obama’s relief measures for homeowners facing foreclosure have fallen far short of objectives. Republican candidates, meanwhile, prefer to let the marketplace work its magic. Prices will then hit bottom and begin to recover.
President Obama had until the end of February to make a decision on the Keystone oil sands pipeline, but he made his move today. And, predictably, he rejected the $7 billion project. That keeps him in good standing with his environmental base for November 2012 but creates new tensions with his Republican foes.
Republicans had forced Obama to make a decision in 60 days as part of the deal for the two-month payroll tax cut extension. House Speaker John Boehner quickly reacted to the rejection by saying “all options are on the table” to craft a bill to fight for the pipeline.
At last night’s debate, Mitt Romney said he’d be happy to release his tax returns in April. But today he disclosed a crucial piece of information as the clamor grew for him to come out with his returns. The frontrunner to clinch the Republican nomination has a tax rate that “is probably closer to 15 percent than anything.”
That’s a low rate, but it is in line with what is paid by wealthy Americans who earn much of their income from capital gains, which are taxed at 15 percent. So, now the number is out and we will see how American voters (and wage earners) react.
MANCHESTER, New Hampshire (Reuters) – Despite 42 years of marriage, New Hampshire couple Belinda and Eddie Carr were worlds apart on this primary voting Tuesday as they argued over how to get the U.S. economy moving again.
In the shadow of Manchester’s red-brick textile mills that once hummed with activity and now house offices, the Carrs, both in their 70s, disagreed over the distribution of wealth, the Republicans’ pro-business stance and, well, the way forward.
MANCHESTER, New Hampshire (Reuters) – Former Massachusetts governor Mitt Romney won the New Hampshire Republican U.S. presidential primary on Tuesday by a comfortable margin – his second straight victory in the race to become his party’s choice to challenge Democratic President Barack Obama on November 6.
Based on early returns with about 10 percent of the vote counted, U.S. television networks declared Romney the victor. With about 15 percent of the vote counted, the networks said Romney had won 36 percent of the vote with congressman Ron Paul in second with 25 percent.
It’s a cruel world out there, what with these Super PACs. Just ask Newt Gingrich, the candidate who promised to stick to the positive message. Battered by weeks of negative ads from a Super PAC and plummeting poll numbers, Gingrich took a sharp detour off the high road in the final hours of campaigning in Iowa.
Gingrich called putative Republican frontrunner Mitt Romney a liar because he tries to distance himself from the ad-spewing PAC created by Romney staff and funded by his millionaire friends. “It’s baloney,” Gingrich said.
Here’s a modern-day twist on Harry Truman’s quip “If you want a friend in Washington, get a dog.” If you, the president, have called John Boehner and urged him to compromise on extending the payroll tax deal by two months, then all that’s left to do is go out Christmas shopping with your dog.
That’s what President Obama did today, taking Bo, the only family member who hasn’t gone to Hawaii, to a pet store in a Virginia strip mall.
For the past week or so, we’ve watched Democrats and Republicans playing chess on the payroll tax cuts, trying to outmaneuver each other and gain the upper hand in this final bitter budget battle of 2011. Today, it looks like the match moved off the chessboard and into the unknown.
In this vacuum, people are struggling to know what happens next. Eric Lascelles, chief economist at RBC Global Asset Management in Toronto, told us his confidence that the tax cut will be extended in 2012 “is beginning to waver.”
For most Americans and for many here in Washington, the idea that the United States could broker successful talks with the Taliban that lead to the end of the Afghan war is mind-bending. And yet, that is what senior U.S. officials have allowed themselves to entertain as 10 months of secret dialogue reach the point of breakthrough or collapse. It’s a small glimmer of hope where there once was none.
In our exclusive “Secret U.S., Taliban talks reach turning point,” we reveal that the United States is considering the transfer of Taliban prisoners from Guantanamo to the Afghan government. The Taliban will have to correspond with its own confidence-building measures like denouncing international terrorism and entering formal talks with President Karzai’s government.
There will be no vacation for you, Congress, until you get your work done. That was the stern message from President Obama today. But it probably wasn’t his warning that pushed Democrats and Republicans to get back to serious negotiations to finish the year’s business. More likely, it was fear of voter backlash.
For the third time this year, Americans were hearing about the threat of a government shutdown because Democrats and Republicans could not strike a deal on some basic legislation –a spending bill needed to fund many government agencies beyond Friday. After a flurry of meetings on Capitol Hill, we received word that the deal was near.