On Wednesday the Senate voted down five budget proposals, reflecting gridlock and unwillingness to face reality. Four of the budget proposals were presented by Republican senators, while the fifth was based on President Obama’s budget.
House speaker John Boehner decided on Tuesday to fire the first round in the coming battle to deal with the huge tax increases taking place after the first of the year by setting the terms for the debt ceiling debate. In a speech at the Peter G. Peterson Foundation’s 2012 Fiscal Summit in Washington Boehner said that any discussion would revolve around his “Boehner principle” — every dollar of additional debt increase for the federal government must be matched by an equal or greater reduction in government spending.
On Monday, U.S. District Court Judge James Boasberg ruled against the National Labor Relations Board’s (NLRB) “ambush rule” that would greatly shorten the time an employer had to defend against an effort to unionize his business, from 42 days to 10 days.
With five board members, the NLRB needs a quorum of three to pass any “administrative” rules but when the “ambush rule” was promulgated by the union-friendly board, only two were present.
The latest numbers on the Eurozone economies are showing nothing, with an official recession call barely avoided. And without Germany’s slightly better economic performance in the first quarter, the recession would be official.
JPMorgan Chase's $2 billion trading loss has predictably generated calls for more bank regulation. But one free-market advocate, Dan Amoss of the Daily Reckoning made this suggestion: "Here’s an idea: it’s called 'capitalism.' Take away the subsidies and bailouts for banks, along with the regulatory red tape. If they want to blow themselves up, fine — but losses would fall on the risk managers making those decisions and bank shareholders, not taxpayers or depositors…."
Eric Fehrnstrom, Romney's veteran campaign director, assures that his campaign will be dirty while ignoring key issues facing the republic.
The Additional Child Care Credit scam, wherein the IRS allows someone to get a tax credit for children claimed to be residing part of the year at a residence (often whether the children actually live there or not), will continue to be enjoyed by millions of illegal immigrants.
The demand that Congress give more power to the Justice Department to track citizens through their cellphones is meeting resistance.
Romney's expanded campaign staff confirms that if he’s elected nothing will change from Obama; the staff is full of elite globalists, many from the Council on Foreign Relations.