By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
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Republican leaders struggled Tuesday to contain the backlash from conservatives over the GOP's offer of $800 billion in tax increases to head off the "fiscal cliff" — a move that didn't impress the White House, even as it spawned a rebellion on the right.
Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington.
Moody's Investors Service on Tuesday warned that it will downgrade the U.S. government's AAA credit rating if Congress and the newly installed president next year fail to produce a major budget agreement that stabilizes and reduces the U.S. debt.
Members of Congress have sided with the media to blast a new Labor Department policy that tightens control over the distribution of employment data, saying the new rules threaten press freedom and raise concerns of possible Big Brother government interference.
Timothy Geithner said Wednesday that he doesn't expect to serve a second term as Treasury secretary. He said he doesn't think President Barack Obama would ask him to remain if Obama won re-election.
Twice last week CNBC, the nation's most popular business network, stayed on pre-taped programming when important economic news broke in the evening while its two smaller rivals were covering the events live.
With signs multiplying that debt-reduction talks between the White House and Congress are at an impasse, Wall Street credit agencies are stepping up their warnings that even a temporary delay in making payment on the government's $14.3 trillion of debt will result in a significant cut in the nation's perfect credit rating.
Headed for Iowa
From combined dispatches
