Tales from the Trail

Romney looks to give Bernanke the boot

U.S. Federal Reserve Chairman Ben Bernanke attends the International Monetary and Financial Committee (IMFC) meeting during the spring IMF-World Bank meetings in Washington April 21, 2012.

“I’d be looking for somebody new.”

Those words from the U.S. Republican presidential candidate Mitt Romney may give Federal Reserve Chairman Ben Bernanke some pause – or at least thinking about some other job prospects if the GOP frontrunner wins the Nov. 6 election.

As we report,  Romney, a former business executive who’s made the economy the cornerstone of his campaign, has made it clear that if he wins the White House he will try to replace Bernanke. The Fed chief’s term ends in January 2014 – a year after the next president takes office. Although Bernanke was nominated by Republican President George W. Bush, Democratic President Barack Obama give him second term in 2009.

Bernanke, who was back in the spotlight on Wednesday as he defended current U.S. monetary as being on track, has been both vilified and revered for his role amid the Great Recession that began in 2008. Critics contend he is pursuing a reckless money-printing binge that exposes the world’s largest economy to a dangerous inflation risks while his defenders credit him with bold moves to stimulate growth that prevented a repeat of 1929-level depression.

Romney is signaling he wants the Fed – and the economy — to take a different direction. And that means giving Bernanke the boot, he says.

Washington Extra – Moonshot no more

U.S. Republican presidential candidate Newt Gingrich bows his head in prayer before speaking at First Redeemer Church while on a campaign tour in Cumming, Georgia, February 26, 2012. REUTERS/Tami Chappell

Earth calling Newt: When the biggest news of your presidential campaign is the penguin biting your hand at the zoo, it’s probably time to pack it in.

Even though Newt Gingrich’s odds of winning the Republican nomination were about as long as those of realizing his dream for a moon colony, the 68-year-old seemed to enjoy himself to the end. “I never got the sense that he was quote-unquote down,” said adviser Charlie Gerow. “I got the sense on a couple of occasions that he was tired. Really tired.” And really in debt. His campaign spent $4.3 million more than it brought in.

Washington Extra – The bench’s backstories

As the Supreme Court justices convene Wednesday to hear arguments in the case Arizona v United States, will their thoughts drift to Italy, Ireland, Poland and Puerto Rico? 

The challenge to Arizona’s tough immigration law may have the justices thinking about their own families’ origins and journeys to America. As Reuters reports today, nearly all of them, like their countrymen, descend from people who came looking for a better life (the notable exception is Justice Clarence Thomas whose great-grandmother was a slave).

The justices of the U.S. Supreme Court seen in a October 8, 2010 group portrait. Seated from left to right in front row are: Associate Justice Clarence Thomas, Associate Justice Antonin Scalia, Chief Justice John G. Roberts, Associate Justice Anthony M. Kennedy, Associate Justice Ruth Bader Ginsburg. Standing from left to right in back row are: Associate Justice Sonia Sotomayor, Associate Justice Stephen Breyer, Associate Justice Samuel Alito Jr., and Associate Justice Elena Kagan. REUTERS/Larry Downing

Washington Extra – Gift of the gas

 

Gasoline drips off a nozzle during refueling at a gas station in Altadena, California in this March 24, 2012 file photo. Picture taken March 24, 2012. REUTERS/Mario Anzuoni

After negotiating a tricky stretch of road, the Obama campaign may be easing into the straightaway in the gas-driven presidential race.

News on Monday of a delay in the planned closure of the largest refinery on the East Coast could mean an end to skyrocketing gas prices. And that would effectively take the wind out of a forceful Republican line of attack — that the president is to be blamed for $4 a gallon gas, arguably the most visible price in the American economy today.

No privilege for most stay-at-home moms -poll

Mothers relax on the grass with their babies at Central Park during a warm day in New York, March 22, 2012. REUTERS/Lucas Jackson

The recent flap over women voters — especially stay-at-home mothers — has sent both Republican and Democratic pundits scrambling and with good reason: many stay-at-home moms aren’t affiliated with either party and are a ripe target for swing votes, a new poll shows.

The survey from Gallup Inc also finds that moms who don’t work aren’t exactly a pampered lot, despite Ann Romney – the wife of a multi-millionaire businessman – being portrayed as their standard bearer. It found most moms who stay home are more economically disadvantaged than their working peers.

Washington Extra – Going to the dogs

U.S. Republican presidential candidate and former Massachusetts Governor Mitt Romney (C) is seen here in 2008 with his grandson Parker and his son Craig greeting a dog at a campaign stop in Bluffton, South Carolina in this file photo (REUTERS/Jonathan Ernst). AT LEFT: U.S. President Barack Obama bends down to pet his dog, Bo, outside the Oval Office of the White House in Washington March 15, 2012 (REUTERS/Larry Downing).

U.S. President Barack Obama bends down to pet his dog, Bo, outside the Oval Office of the White House in Washington March 15, 2012.   It’s now official: The presidential campaign is going to the dogs. And like a lot of things this election year, it’s doing so via Twitter.

For months, aides to Republican Mitt Romney have tried to live down the much-publicized tale of the Romney family’s trip to Canada in 1983, when Romney transported the family dog, Seamus, in a crate that was strapped to the top of the car. The episode, in which the dog lost control of his bowels, has been lampooned by Democrats who have portrayed Romney as an uncaring former corporate executive.

Washington Extra – The Romney Doctrine?

Republican presidential candidate and former Massachusetts Governor Mitt Romney speaks during a campaign stop in Warwick, Rhode Island April 11, 2012. REUTERS/Brian Snyder

When it comes to U.S. presidents and foreign policy, it’s always been a matter of what they do during crises, rather than what they say on the campaign trail.

Running for president in 2000, George W. Bush campaigned against “nation building.” But the terror attacks on Sept. 11, 2001, changed everything, and Bush wound up launching an invasion of Iraq that led to a decade-long war and redefined U.S. foreign policy.

Washington Extra – Tea Party poopers

A man holds a sign during a March 24 Tea Party Patriots rally in Washington calling for the repeal of the 2010 healthare law. REUTERS/Jonathan Ernst

All that Tea Party support in 2010 for the 87 House Republican freshmen seems to have come with a price — and now it’s time to collect.

Representative Michael Grimm found his office filled with activists wanting to know why he hadn’t done more to slash government spending and why he had voted to raise the U.S. debt limit. He too is frustrated, the former Marine told them, but you just can’t shut down government and stop paying the soldiers.

The tunnel to political prominence

NJ Gov. Chris Christie

A new government report shines the spotlight again on New Jersey Gov. Chris Christie, see here at a presidential campaign event for Republican candidate Mitt Romney on December 30, 2011. REUTERS/Rick Wilking

A new report on the controversy that helped launch New Jersey Gov. Chris Christie to national prominence – and make him a vice-presidential contender – has reignited debate over one of the country’s most popular and polarizing Republicans.

A General Accounting Office report on Tuesday examined the impact of Christie’s decision in October 2010 to cancel a multibillion-dollar rail tunnel linking commuters in his state of New Jersey to midtown Manhattan.

Check one, two? Obama likes knowing when microphone is on

 

The microphone was hot, and this time, President Barack Obama was happily aware that he was being recorded.

During the opening of a speech he gave to news editors in Washington, Obama took a light jab at the media for reporting sideline discussions he had with Russian President Dmitry Medvedev in Seoul that were, unbeknownst to the pair, picked up by press microphones.

“It is a pleasure to speak to all of you — and to have a microphone that I can see,” Obama said to laughter from the audience of news executives.