- Pope Francis wins another ‘Person of the Year’ — from gay rights magazine
- Rep. Steve Stockman: Give my campaign $10, and you’ll get an Obama barf bag
- Putin: Russia to buy $15 billion in Ukraine bonds
- Expert: Obamacare ‘death spiral’ fears exaggerated
- Alabama firefighters dig for survivors of apartment blast
- Big Sur wildfire destroys home of firefighting chief
- ‘ ’Twas the Night Before Christmas’ set for mock trial to argue authorship
- Angela Merkel’s third term as Germany’s chancellor to be marked by move to left
- Mega Millions entices with record-setting jackpot: Half a billion so far
- Dennis Rodman heads to North Korea — despite execution, political purge
Latest Budget Committee Items
Minnesota Rep. Michele Bachmann has singularly achieved what most of her colleagues only dream of doing but never will: Breaking out of the anonymity of 435 House members to become a national political figure in her own right and a candidate for the presidency.
If the Democrats are counting on making a comeback in the 2012 elections by demagoguing the Republican Medicare reforms, they had better think again. The No. 1 political issue for the remainder of this year and most likely in 2012 will be the lackluster, persistently high-unemployment Obama economy, which Republicans will nail to Democrats' hides from Maine to California.
Rep. Peter T. King said Thursday that President Obama's "mixed messages" on terrorism and his handling of the economy have opened the door for Republicans to deny him a second term next year.
Keep this column until April 2013. In the accompanying table, you will see two forecasts for federal debt-related items: the official Congressional Budget Office's forecast (which is close to the Obama administration's) and a pessimistic forecast (mine). No forecast is perfect, but it is likely that I will be closer to the mark than the CBO/administration because my assumptions are more realistic.
Last weekend, David Ignatius made a vital contribution to the debt and deficit debate: "Take the deficit pain now. It's a truth of economics and life that if you have bad news coming, take the hit early and get it behind you. You can't start building until the debris is out of the way." Mr. Ignatius offers various examples from history. For example, Fed Chairman Paul A. Volcker's 1979 interest rate hikes caused the recessions of the early '80s, but broke the inflation psychology and (I would add, with Ronald Reagan's policies) built the foundation for 25 years of prosperity.
President Obama on Wednesday punctuated his western swing with a town-hall meeting at Facebook headquarters in Silicon Valley and a pair of fundraisers in San Francisco, shoring up his support among young voters and party donors while bashing the Republican budget proposal as "fairly radical."
Congress on Tuesday revoked the first significant parts of President Obama's health care initiative when the Senate voted overwhelmingly to eliminate a burdensome tax paperwork requirement the law imposes on businesses.
In about a month, the Republican majority on the House Budget Committee will present its concurrent budget resolution for fiscal year 2012, which by law will include their proposed 2012 annual budget and budget projections - including spending, revenues and the resulting deficit, surplus or balance - for the following nine years.
House Republicans, who control the chamber, promised on Thursday to wring $32 billion from the 2011 budget in their drive to bring domestic spending back to the levels in place before President Obama took office.