In its latest 14-page report on the impact the “fiscal cliff” would have on the economy in 2013 and beyond, the non-partisan Congressional Budget Office (CBO) provided enough ammunition to both sides of the debate to guarantee a standoff in Washington. It would have simplified matters greatly if Doug Elmendorf, the CBO’s director, had simply said: “Pay me now or pay me later. You decide.”
Opponents of the Law of the Sea Treaty (LOST) should be encouraged by the outcome of Tuesday’s Senate elections, according to Patrick Goodenough of CNSNews.com.
As of last summer, 34 Republican senators, led by Sen. Jim DeMint (S.C.), had gone on the record opposing ratification of the treaty. Although Democrats gained two seats in the election, giving them an eight-seat edge over Republicans (10 if one includes the two seats that will be held by independents caucusing with Democrats), the number of LOST opponents has probably increased by two, Goodenough calculates.
But many LOST opponents suspect Sen. John Kerry (D-Mass.) will try to ram the treaty through during the lame-duck session before the end of the year — seemingly more probable now that the number of anti-LOST senators is certain to grow when the Senate convenes in January.
Although the Treasury warned that government borrowing would hit the debt ceiling before the end of the year, it also said it would use "extraordinary measures" to push off the debt ceiling conversation until the 113th Congress is seated, where it's more likely to be raised without a fuss.
According to Republican Rep. Darrell Issa, there are indications that a federal program is being used to bolster President Obama’s election chances by hiding the negative impacts of ObamaCare. Issa has issued a subpoena to receive documents on that program to prove his case.