Leon Panetta, famous here in Washington for being a “budget guy”, has a budget challenge at the Pentagon that few would relish. He probably doesn’t relish it either, but it could be the crowning achievement in a remarkable career if he pulls it off.
Tales from the Trail
Some great news for all you borrowers today from the Fed. Interest rates are likely to remain around zero until at least late 2014. That’s later than previously expected, and to put things in perspective, it’s nearly two years into the term of the president who will be elected in November.
Republican presidential candidate Newt Gingrich got the Republican candidates debate in Charleston off to a lively start Thursday night with an angry denial of charges a former wife made in an interview that came two days before the South Carolina primary.
The Gingrich campaign launched a preemptive strike as news spread that ABC plans to broadcast a potentially damaging interview with Newt Gingrich’s second ex-wife on Thursday — just two days before Saturday’s crucial South Carolina primary.
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.