Tea Party favorite and freshman Senator Rand Paul (R-Ky.) may have crossed a "third rail" of politics by suggesting that the federal government zero out all foreign aid — including even foreign aid to Israel, America's largest foreign aid recipient over the past 30 years.
U.S. and British government officials have begun a global crackdown against pro-WikiLeaks "hacktivists" who briefly shut down Mastercard, Visa, Paypal and Amazon.com December 9. The loose group of hacktivists began a global cyber-attack called "Operation Payback" against the companies that earlier had caved-in to what was likely a U.S. federal government pressure campaign and similar electronic attack against the WikiLeaks website earlier in the year.
House Republican leaders are currently reconsidering an earlier GOP proposal to privatize the Medicare program. House Budget Chairman Paul Ryan is currently testing support for his idea to replace the program with a fixed payment to buy a private medical plan. Once tested, the Republicans will then decide whether they should include the plan in the budget they submit next spring.
In a development that ought to surprise no one, the Obama administration is planning to release its plan for new gun-control legislation within the next two weeks. The fact that Obama made no mention of such legislation during this week’s State of the Union address is hardly an indication that such a move is not on the administration’s agenda; it simply means that while the Democrat leadership is loath to let a crisis “go to waste,” that does not mean that they intend to broadcast their intentions, either.
The Federal Reserve cherishes its privacy and has fought tooth and nail to keep it. Nevertheless, its ability to shower greenbacks on favored corporations and foreign banks may soon be drawing to a close thank s to the 2010 elections.