Month: August 2011

Deficit ‘super committee’ looks set for a bumpy start

The congressional “super committee” on deficit reduction has extraordinary new power to chart the nation’s budget and policy decisions for the next decade. What it doesn’t have is a meeting room. Or a staff director. Or clear rules to govern the bipartisan panel that in three months is expected to recommend $1.5 trillion in deficit …

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Party Crashers All the Rage, Aren’t All the Same

Congressional job approval is at an all-time low, and there’s no shortage of anger aimed at the Beltway. There’s also no shortage of people looking to take advantage of the unpopularity of both Republicans and Democrats. On the surface, Americans Elect, No Labels and Ruck.us might look like similar groups, complaining about hyper-partisanship and gridlock …

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Starbucks CEO to Businesses: Boycott Political Campaign Donations Until Deficit Deal Reached

Starbucks CEO and Chairman Howard Schultz’s political campaign donation boycott is picking up steam after two Wall Street CEOs endorsed the pledge agreeing that bipartisan leadership is lacking in America. Yesterday Schultz sent a letter to business leaders announcing two major endorsements: NASDAQ OMX Group CEO Bob Greifeld and NYSE Euronext CEO Duncan Niederauer. A …

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Debt panel’s pressure grows with economic turmoil

Under the gun of a debt-ceiling vote, congressional leaders created a unique and powerful new “super committee” to fix U.S. debt problems. But it seems designed to fail, even as the stakes rose exponentially with last week’s stock market turmoil and the threat of a double-dip recession. With House Minority Leader Nancy Pelosi, D-San Francisco, …

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Washington Sen. Patty Murray faces tough job with deficit, tougher job with politics

Petite and unusually understated in an ego-saturated chamber, Sen. Patty Murray has made a career on Capitol Hill by being underestimated. Now in her fourth term, the expectations and challenges are piled high as Murray, the 60-year-old Democrat from Washington state, takes the reins of a select committee that must find $1.5 trillion in federal …

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S&P spurs blame game

Standard & Poor’s delivered an unambiguous message to investors Friday that has serious implications not only for the nation’s economy but also for President Barack Obama, the tea party and anyone else with skin in the 2012 elections: America’s political system is subprime. Friday’s downgrade seems likely to spur a public backlash against S&P, which …

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Obama allies, critics, argue over credit downgrade

Allies and critics of President Obama are already pointing fingers over the credit rating downgrade by Standard & Poors. House Speaker John Boehner, R-Ohio, who clashed with Obama repeatedly during the recent debt ceiling dispute, attributed the downgrade to government spending. “Unfortunately,” Boehner added, “decades of reckless spending cannot be reversed immediately, especially when the …

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Was S&P right? Congress responds to credit downgrade with sniping

Was S&P right? Congress responds to credit downgrade with sniping Congress’s response to the downgrading of the US credit rating Friday was to fall back on partisan talking points – a response that tends to confirm Standard & Poor’s criticism that the US may lack the political capacity to solve its debt crisis. Republicans called …

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