House Speaker John Boehner (R-Ohio) has once again disregarded the conservative arm of the Republican Party and will forge ahead with two items that will increase the federal budget deficit. Boehner intends to drive a defense spending increase and the so-called “doc fix” through the United States House of Representatives over the next week.
Republicans in Congress have released their first budget outline since the GOP took control of Congress in November. The Republican blueprint calls for a number of ambitious moves, including significant changes to Medicare and increases in defense spending, and reiterates the GOP call for a complete repeal of ObamaCare.
Loretta Lynch's handling of the HSBC money-laundering scandal could mean the end of her chances to become the next U.S. Attorney General.
After voting for “Fast Track” for NAFTA and then for NAFTA itself, then-Senator John Kerry professed total surprise when a NAFTA court trampled U.S. state laws and overruled U.S. courts — precisely as this magazine had warned would happen.
Senator Ron Wyden (D-Ore.) the ranking member on the Senate Finance Committee, is getting pressure from both liberals and conservatives to oppose Fast Track, while crony corporate interests step up lobbying for Obama’s trade agenda.
According to the Congressional Budget Office, the U.S. government will reach its borrowing limit in October or November, after exhausting emergency measures to keep the debt below the limit as long as possible. Without the emergency measures, the growing federal debt would hit the ceiling by the middle of this month. But Republicans who had hoped to use the debt ceiling debate as leverage to pass spending cuts were disappointed to learn that Senate Majority Leader Mitch McConnell has already assured the Dems that the GOP would not threaten a default or government shutdown.
Late last week, Senator Jim Inhofe tossed a snowball at a colleague on the Senate floor as a visual rebuttal to claims of global warming.
Even as the Fed is churning out new money by the hundreds of billions and making secretive deals with other central banks, local bankers are joining together to fight Kentucky Senator Rand Paul’s “Audit the Fed” legislation.
The U.S. taxpayer-backed Export-Import Bank (Ex-Im), widely criticized for crony capitalism as well as for financing communist and socialist regimes with American money, is fighting for its very survival amid scandals as a growing coalition of lawmakers in Congress works to finally shut it down. From funneling billions in “loans” to state-owned banks in Russia and Communist China, to offering the corrupt Brazilian state-owned oil giant Petrobras $2 billion to “develop oil fields,” to hiring politically connected “green energy” cronies, the bank’s activities have come under increasing criticism. Now, with its charter set to expire this summer without congressional action, the Ex-Im bank — originally created to subsidize U.S. exports to the mass-murdering regime ruling the Soviet Union — is sparring with the American people’s elected representatives.