In his weekly address filmed this time in Mexico City, President Obama touted his efforts to reform the immigration system. He made sure to say the “bill is a compromise,” and included this gaffe, “It would provide a pathway to earned citizenship for the 11 million individuals who are already in this country illegally.”
The president said he brought up the topic because it “affects both our countries.”
April 16, 2013
The US Senate faces a showdown this week over gun rights, but even supporters of a contentious compromise on background checks conceded Tuesday that they are still short of the necessary votes.
President Barack Obama expressed optimism about the proposed bill and said it would be “unimaginable” if Congress defied strong public support for the measure, especially after the Newtown school massacre in December.
The chamber’s top Democrat Harry Reid [...]
While we are used to seeing insta-crashes in our highly-regulated and trustworthy equity markets, the unregulated digital world of Bitcoins suffered another flash-crash last night. According to Ars Technica, the 23% plungefest in the value of the digital currency (the second in a week) was due not to Waddel & Reed, not HFT algos, but ‘forking’ Cryptographic algos gone wild agreeing on different (legacy) keys as being correct - akin to finding Tungsten in your Gold bars [...]
House Speaker John Boehner emerged from the meeting and declared that taxes were off the table as an option for the sequester replacement
Obama said the cuts will mean ‘hundreds of thousands of jobs lost’
President blamed the ‘dumb’ cuts on Republicans but conservatives see it as a win for their tough approach on spending cuts
President officially signed off on the sequester on Friday night
Republicans are cheering over House Speaker John Boehner’s [...]
We’re just a few days away from the dreaded “sequester”, a series of automatic spending cuts that will result in $85 billion in spending cuts across every part of the US government, with defense getting particularly hard hit.
The conventional wisdom is that it’s probably going to happen, and so now both sides are just jockeying to blame the other side.
Republicans say that the sequester was Obama’s idea. Obama is saying [...]
The US and Nato are more earnestly than ever trying to speed up peace talks between them, the Afghan and Pakistani governments and the Taliban. But they will falter again, just as they have done in the past until the US is prepared to make a radical break with the past format of negotiations and understand the importance of mediation.
But what we have seen in the on and off [...]
The social media giant Twitter acknowledged that it has become the latest victim in a number of cyber-attacks against media companies, saying hackers may have gained access to information on 250,000 of its more than 200 million active users.
The company said a blog post on Friday it detected attempts to gain access to its user data earlier in the week. It shut down one attack moments after it was detected.
New York passed the toughest gun control laws in the nation last week. The SAFE Act called for a new assault weapons ban, among other measures. Over this past weekend, New York State Assemblyman Steve McLaughlin revealed other measures that were removed from the final bill that was eventually signed into law.
These 15 measures were pulled from the final bill:
1. Confiscation of “assault weapons”
2. Confiscation of ten round clips
3. Statewide [...]
ongress is killing medical research. The tragedy is that they don’t want to, but they may do it anyway.
While the ridiculous posturing about the U.S. budget deficit drags on, seemingly without end, biomedical research in the U.S. is crumbling. Congress’s chronic inability to pass a budget, and especially the delays this year, are deeply damaging the core of our entire biomedical research enterprise: the National Institutes of Health.
Outside the beltway, the [...]
Bill Black: Compromise on tax hikes on rich and allowing payroll taxes to rise sets the ground for a “grand betrayal” yet to come
Roubini: USA has been let down by its leaders.
FT: The deal reached in Washington on New Year’s day prevented the US economy from falling off the so-called fiscal cliff. However, given the dysfunctional nature of the American political system, it won’t be long before there is another [...]
For President Obama, the fiscal deal pending in the House would finally end four years of debate with Republicans about raising tax rates on the wealthy. But it seemed to reopen a debate within his party about the nature of his leadership and his skills as a negotiator.
While Mr. Obama got most of what he sought in the agreement, he found himself under withering criticism from some in his [...]
As the “fiscal cliff” of tax hikes and spending cuts draws closer, anti-tax crusader Grover Norquist repeated his call on CNBC’s “Closing Bell”for spending cuts instead of tax increases to deal with the country’s fiscal problems.
“If you put tax increases on the table, there’s never any spending restraint,” Norquist said, citing examples where taxes went up under previous administrations but spending continued unfettered.
“All Obama has done for the last four years is clamor [...]
December 17, 2012
[...] The checkpoint sits about 20 miles north of the Nogales port of entry. It’s a stop-gap in the funnel, the last federal inspection for traffic heading north. Checkpoints like these across the nation are responsible for one-third of the Border Patrol’s total drug seizures in any given year.
Now talk of the fiscal cliff raises some uncomfortable possibilities. Nationwide, unemployment jumping to 10 percent. Higher taxes. Defense [...]
As of today, December 14th, 2012, the US Congress has not decided on a budge and is no where near being able to vote on passage of any budget. President Obama won’t compromise on his demand that Congress turn it’s authority to limit government borrowing limits. The resistance to this demand lies on both sides of the Congressional isle, yet Obama is refusing to budge.
If the Congress should fail to [...]
The Egyptian army has begun to clear demonstrators and media organisations from outside the presidential palace in Cairo.
It follows violent overnight clashes between supporters and opponents of President Mohammed Morsi that left five people dead and 644 injured.
Following a meeting between the president and military commanders, the 13:00 GMT deadline to clear the area round the palace was set. A ban on all protests in the area has also [...]
Treasury Secretary Timothy Geithner drew a line in the sand over taxes in defense of the Obama administration’s controversial proposal to avoid the fiscal cliff.
In an interview with CNN’s Candy Crowley on “State of the Union,”Geithner insisted that any compromise on the plan he presented to congressional Republicans on Thursday, which includes $1.6 trillion dollars in tax revenue, cuts to Medicare, and another $50 billion in stimulus spending, must contain [...]
The debate is really over who will pay the bill. Neither side will desert their base.
The Budget Control Act of 2011 was enacted as a compromise to resolve a dispute concerning the public debt ceiling. Deficit spending previously appropriated by Congress was bringing the federal government’s total debt close to the statutory ceiling. Republicans in Congress refused to approve an increase in the ceiling unless there were deep spending cuts. [...]
For one reason or another, this economy is going down.
As everyone must know by now, a fiscal cliff looms ahead. Unless current law is changed, the U.S. economy will take a $600-billion hit starting next year. Taxes will go up by $500 billion, while spending will have to be slashed by $100 billion.
These are big numbers for a healthy economy to absorb, much less one that’s [...]
A year ago, Goldman Sachs’ David Kostin said the S&P 500 would end 2012 at 1,250.
And he’s sticking to that call.
This implies stocks fall 8 percent from here.
“Uncertainty swirling around the ‘fiscal cliff’ that must be resolved by year-end, the pending jump in capital gains taxes at the start of 2013, and the debt ceiling that will be reached in late February represent clear and present downside risks to the market [...]
The Mayans may not be right about the world ending by the end of 2012, but the next month and a half is looking a lot more panic-stricken than celebratory.
The ongoing fight over the “fiscal cliff” may overshadow everything else as we get closer to the new year. Sadly, compromise seems hard to come by, even though the consequences of going over the cliff — hundreds of billions of dollars of spending [...]
Up to 3.4 million jobs would be lost, the Congressional Budget Office estimates. The unemployment rate would reach 9.1 percent from the current 7.9 percent. Stocks could plunge. The nonpartisan CBO estimates the total cost of the cliff in 2013 at $671 billion.
Collectively, the tax increases would be the steepest to hit Americans in 60 years when measured as a percentage of the economy.
“There would be a huge shock effect [...]
BERLIN—The European Union summit that ended Friday suggested Germany and France, always awkward partners in managing the three-year-old euro crisis, are increasingly at odds over how to resolve it.
The summit produced a tortuous compromise between the currency bloc’s two biggest nations over the creation of a new euro-zone banking supervisor, but it also brought simmering disagreements between Berlin and Paris into the open.
German Chancellor Angela Merkel balked at setting up [...]
As earnings season is upon us, we will no doubt hear that expectations are so low that the market has it all priced in and upside is the only way to go (apart from the fact that Q4 expectations remain in the land of faeries and unicorns). Of course Q4′s hockey-stick is critically going to depend on the fiscal-cliff – post-election. As we noted here, there are few positive outcomes from the [...]
This is being done to show paul he will have the support of grassroots
rumors abound that he is considering a run on another ticket
and all you romneybotcons, we’ve heard it all already
1. we’re not voting for romney. period.
2. it’s not a vote for obama, it’s a vote for ron paul and our conscience because being to sleep at night is important to us and we don’t “compromise” with evil
3. we [...]
GOP officials and the Mitt Romney campaign have cut a deal with Texas Rep. Ron Paul’s campaign to allow some — though not all — of Paul’s delegates from Louisiana and Massachusetts to be seated at the Republican National Convention. The status of Maine’s delegates remained unsettled.
The compromise would appear to avert a potential public clash with Paul supporters during the convention’s opening day on Monday.
Among Republican delegates descending on [...]
by Simon Black from Sovereign Man
US Citizens Pay Attention To This
I was sitting across from an impossibly blonde account executive this afternoon when I heard three words I never thought I’d hear at a foreign bank.
“Are you Greek,” she asked me with a bit of a smile…
me: “Uh, no. I have a US passport, among others…”
she: “OK good, as long as you’re not Greek.”
I couldn’t believe what I was hearing. Let [...]