The Democrats already in the field are promising free healthcare, free college tuition, free cash for everyone. They’re promising slavery reparations, a top tax rate of 70 percent or higher, and one new member of Congress— whom the Democratic National Committee chairman has called “the future of the party”— is calling for the end of planes and cars, as well as farting…
Washington Wire
The bank engaged in an “egregious pattern of consumer abuses,” U.S. Rep. Maxine Waters said at the outset of a roughly four-hour hearing she chaired regarding the fourth-largest U.S. bank. Tim Sloan’s appearance before the House Committee on Financial Services marked the second time he has testified on Capitol Hill over problems at the bank following…
WASHINGTON- President Donald Trump sent Congress on Monday a record $4.75 trillion budget request that calls for increased military spending and sharp cuts to domestic programs like education and environmental protection for the 2020 fiscal year. The budget is unlikely to have much impact on actual spending levels, which are controlled by Congress.
President Donald Trump’s new budget is returning to an old fight over spending on a border wall with Mexico. The president’s proposal, set for release Monday, also seeks to increase spending for the military but cut back sharply on money for domestic programs in the name of fiscal responsibility. Democrats aren’t buying it. The chairman of the House Budget Committee, congressman John Yarmuth of Kentucky, calls the proposed cuts to essential services “dangerous.”
Some Democratic presidential candidates are turning to rural and small-town America in the early stages of the 2020 campaign. It’s a swath of the electorate that gives President Donald Trump and Republicans their most intense support. But Democratic and persuadable voters there are important to the party nomination and in determining who wins battleground states. And some candidates say any president must pay attention to all parts of the country.
It will give Congress a sense for his overall trajectory on spending and taxes, though given how little weight his past two budgets carried— or indeed those of the Obama administration— some lawmakers squinted to find the relevance in the annual exercise. “Well, I guess I could say that it’s part of the tradition of the country and the Congress, so to that extent it’s…
The legislation would overturn a 2017 anti-consumer move by the Trump administration’s Federal Communications Commission that gutted net neutrality protections enacted by the Obama Administration. The Save the Internet Act restores the FCC’ s 2015 Open Internet Order similar to last year’s Congressional Review Act that passed the Senate and had…
The Economic Policy Institute issued the following news release:. The Labor Department has just announced a proposal to set the salary threshold under which workers are entitled to overtime pay to $35,308 a year. The 2016 rule, which was held up in court following a challenge by business trade associations and Republican-led states, would have increased the…
The Centers for Medicare & Medicaid Services is looking for recommendations on how to make it easier to sell health insurance across state lines.
The U.S. just posted the largest merchandise trade deficit in its history: $891 billion. Other studies show tariffs costing U.S. consumers tens of billions of dollars in higher prices, not to mention the $8 billion in tax dollars sent to prop up farmers hard hit by Chinese retaliation. Even as a silly Trump obsession with trade deficits, which don’t matter much,…
Fed Survey Finds Adverse Effects From Government Shutdown
The Federal Reserve says the U.S. economy was expanding in January and February, but half the country was seeing fallout from the 35-day partial government shutdown. Some manufacturers expressed worries about weakening global demand for their products and adverse effects from President Donald Trump’s trade policies.
New York regulators have subpoenaed the Trump Organization’s insurance broker following congressional testimony that President Donald Trump misled insurers about the value of his assets. A spokeswoman for the brokerage, Aon, said Tuesday the company intends to cooperate with the inquiry by New York’s Department of Financial Services. The Trump Organization did not immediately return calls seeking comment.
Ohio exported $37 billion in goods to Canada, Mexico, China and the European Union in 2017. Just 9 percent, or $3.3 billion, of those products are affected by the tariffs imposed by President Trump. These are the findings of a report, released last week, by Ned Hill and Fran Stewart, two scholars from the John Glenn College of Public Affairs at Ohio State…
“Pinkos have more fun,” declares New York Magazine political contributor Simon van Zuylen-Wood, who says that socialism has become a “new way to date in Brooklyn.” Creators Marissa Brostoff, 33, and Mindy Isser, 28, were concerned that socialist men were not dating socialist women, and described their new dating platform as a “communal service” to help filter through…
When Representative Alexandria Ocasio-Cortez rolled out her Green New Deal, she called on the government to provide economic security to those“ unwilling to work.” Conservatives correctly seized on this to argue that the Democratic Party seemed to be moving quite a bit further to the left in its views on economic policy. The controversy was reignited this week,…
Former President Bill Clinton is taking meetings with some Democrats running for the White House. But in a sign of how his standing has changed, most of the campaign’s early front-runners are staying away. So are the female candidates in the historically diverse field. The Democratic Party has shifted considerably to the left since Clinton’s two terms in White House. Clinton’s personal baggage also makes him an awkward adviser for some in his party’s next class of presidential hopefuls.
ELIZABETHTOWN— A ballot-fraud scandal that brought down a Republican candidate and led North Carolina to order a do-over congressional election gives Democrats a shot at taking back a seat held by the GOP since John F. Kennedy was in the White House. Democrat Dan McCready has a head start in fundraising and name recognition, and the allegations of ballot…
But after sales hit a temporary speed bump, Baxter learned there was no tax break for the merchandise she hadn’ t sold yet. “I remember sitting at my parents’ house, realizing there was no way out of this,” said Baxter, a pediatric emergency physician whose company, Pain Care Labs, sells Buzzy, a device that uses a combination of cold and vibration to reduce injection…
Washington Gov. Jay Inslee is adding his name to the growing Democratic presidential field, mixing his liberal record and emphasis on climate change with a biting critique of President Donald Trump. The 68-year-old Inslee is launching his bid Friday in Seattle after recent travels to two of the four early nominating states. As a governor, Inslee adds a new dynamic to a field dominated by better-known senators, with former Vice President Joe Biden potentially joining the field as well.
The U.S. government faces a Friday deadline to raise the U.S. debt ceiling after it was suspended for a full year, or else the country will no longer be able to borrow money internationally. President Donald Trump signed a law in February 2018 that temporarily eliminated the statutory limit on the debt ceiling– or the maximum amount of debt the Treasury Department…
US Q4 Growth Slows But Remains Above Projections
Full year GDP for 2018 came in at 2.9% which was marginally below Trump’s target of 3%. On the face of it, the figure compares well with the 2017 full year growth figure of 2.2%, but 2018 saw major cuts to taxes in the USA which ought to have boosted growth, but can’t be repeated going forward.
T WIN FALLS, Idaho- Loaded up and ready to roll, long-haul trucker Felisa Griffith climbed into the cab of her rig on a cold and icy February morning. Beside her in the cab as she waved “so long” was the only traveling companion she cares to have- her 6- month old Corgi pup named Sam. She averages 3,000 miles per week across the Pacific Northwest hauling household goods,…
US Economic Growth Slows To 2.6 Percent In Q4
The U.S. economy slowed in the final three months of last year to an annual growth rate of 2.6 percent, the slowest pace since the beginning of the year, as various factors including the government shutdown took a toll on growth. Economists believe growth has slowed even more in the current quarter.
Feb. 28– Feb. 28– Name recognition would catapult former Vice President Joe Biden to the front of the Democratic pack should he decide to campaign for the Oval Office, but local politicos wondered if lingering goodwill toward “Uncle Joe” would translate to votes in 2020.. He told a crowd at the University of Delaware on Tuesday that, “The most important people in my…
The Latest: Powell Says Fed Not Swayed By Political Attacks
Federal Reserve Chairman Jerome Powell says that the Fed is making its decisions on interest rates based on “our best thinking” and not political considerations. Powell’s comments came in response to a question from Rep. Al Green, D-Texas, who noted that President Donald Trump had attacked the Fed’s interest rate decisions repeatedly last year.
Jayapal To Introduce Medicare For All Bill
U.S. Rep. Pramila Jayapal, D-Wash., is introducing a Medicare For All bill that would create a government-funded, single-payer health-care system to cover every person in the United States.
The Competitive Enterprise Institute, which is self-described as a non-profit public policy organization dedicated to advancing the principles of limited government, free enterprise and individual liberty, issued the following news release:. Today, a federal court rejected an antitrust challenge to a merger deal between AT&T and TimeWarner.
Asian shares are higher in muted trading as investors watch the second summit between President Donald Trump and North Korean leader Kim Jong Un in Vietnam. Markets across the region edged higher Wednesday as Kim and Trump prepared to begin meetings later in the day. They are to hold further discussions Thursday. Progress toward further dismantling of the North’s nuclear program could help reduce tensions lingering from the 1950-53 Korean War.
The stock market shook off an early slump and was mixed in morning trading as investors weighed conflicting reports on the U.S. economy. Indexes slipped shortly after the opening bell after the government reported that number of homes being built last month plunged to the lowest level in more than two years, the latest sign that the housing market is cooling. That downbeat report was countered by a subsequent surge in an index of consumer confidence following three months of declines.
Former Massachusetts Governor Bill Weld stopped by Franklin Pierce University on Thursday to enjoy a slice of pizza and talk about a potential presidential run with students. The Republican politician, who most recently served as Libertarian presidential candidate Gary Johnson’ s running mate in 2016, has launched a presidential exploratory committee…
Medicare For All, Single-Payer Will Be Discussed At NAHU Conference
Nearly 700 health insurance and benefits advisors from across the nation will travel to Washington to meet with members of Congress. In addition, NAHU members will hear from industry experts, members of Congress and members of the Trump administration as they look at the future for health care reform.
Though the national political focus has largely turned to the 2020 presidential campaign, three Southern states will see hard-fought governors’ races this year, with Democrats trying to show they can compete in prime Donald Trump territory. Democrats are vying to unseat Kentucky’s Republican Gov. Matt Bevin and pick up an open governorship in Mississippi. In Louisiana, they’re working to re-elect John Bel Edwards, the lone Democratic governor in the Deep South.
Will the US and China enter a long-term technological arms race? “The likelihood that the US and China will make some progress in the ongoing trade talks has increased as a result of mounting domestic pressure in both economies,” said Cailin Birch, Global Economist at The EIU.“ Nonetheless, we do not expect a meaningful agreement, as the US and China enter into a…
While past presidents have circumvented Congress on things Capitol Hill had thought it had blocked, have redirected money Congress appropriated, and triggered the same National Emergencies Act Mr. Trump is using as justification to build part of his border wall, none have produced the firestorm that surrounds last week’s announcement.
Existing-Home Sales Drop 1.2 Percent In January
Existing-home sales experienced a minor drop for the third consecutive month in January, according to the National Association of Realtors. Lawrence Yun, NAR’s chief economist, says last month’s home sales of 4.94 million were the lowest since November 2015, but that he does not expect the numbers to decline further going forward.
Government Headed For Close To Half The Nation’s Health Tab
The government growth is driven by traditional Medicare, which is experiencing a surge in enrollment as aging baby boomers shift out of private coverage, according to the analysis from the Centers for Medicare and Medicaid Services. The report projected that U.S. health care spending will surpass $5.9 trillion by 2027.
Yes, Congress is aware the national debt recently surpassed $22 trillion for the first time in U.S. history. “I don’t see at this point a lot of appetite for cutting spending,” said House Budget Committee Chairman John Yarmuth, Kentucky Democrat. President Trump likewise has ruled out major cuts to entitlement programs such as Medicare and Social Security— the key…
Dems Grapple With ‘Socialism’ Label On Health Care
Feb. 20– Democratic presidential hopefuls continue to move leftward on health care– and will have to figure out how to fend off GOP attempts to brand them as “socialism” if they want to get anywhere with it. “We’ve gone from Obamacare to Che Guevara- care,” GOP strategist Patrick Griffin said, referring to the Latin American Marxist revolutionary.
After her office sent the “FAQ” to NPR, The Washington Post and other news organizations, and posted a similar version on her congressional website, they were met with withering criticism- prompting Ocasio-Cortez to furiously backtrack, seeking to disown and discredit documents her office had produced, posted and distributed. Now she, and the Democrats who…
Elizabeth Warren, D- Massachusetts, issued the following news release:. United States Senator Elizabeth Warren today unveiled a proposal outlining the Universal Child Care and Early Learning Act, a comprehensive plan to provide millions of families with free, high-quality child care and early learning options and to ensure that every family in the country…
It was supposed to be a rare area of bipartisanship, but Democrats and Republicans are now feuding over the best approach to implementing paid family leave. Key Democrats reintroduced their plan last week, calling for employers to provide 12 weeks of family leave for employees with a new child or who are dealing with personal health issues or health issues with…
Sherrod Brown took aim at Democratic presidential contenders who favor government insurance for all Americans, warning it would cause “angst and anguish” for millions of people to give up their health plans provided by their employers or purchased by themselves. During an interview Sunday on CNN’s State-of-the-Union, Brown, D- Ohio, attempted to separate…
President Donald Trump said Sunday “big progress” is being made in U.S. trade talks with China on what he calls “so many different fronts.” But a China trade expert who served in the Obama administration says he has only seen “incremental progress” toward a trade deal with China. Moon believes negotiators on both sides are failing to address the real reason the U.S….
U.S. industrial production fell 0.6 percent in January, a decline caused in large part by an 8.8 percent plunge in the making of motor vehicles and auto parts. The Federal Reserve says that that the manufacturing component of the index dropped 0.9 percent last month, reversing a 0.8 percent gain in December. Over the past 12 months, factory production has increased just 2.9 percent. Manufacturing of wood products, computers, electrical equipment, apparel and chemicals also fell in January.
Trump will also declare a national emergency, allowing him to bypass Congress and build the wall. It also explicitly prohibits a concrete wall, and includes a number of concessions to Democrats, such as amnesty for illegal immigrants in the US with unaccompanied minors, a ban on wall construction in several national parks, and no funding for hiring more…
As Democrats Lean Left, Will Voters Follow?
Captivated by a handful of liberal superstars, Democrats are venturing where the party has long feared to tread: Steep taxes on the rich. Abolishing an immigration enforcement agency. And proposing a sweeping Green New Deal that calls for an “economic transformation” to combat climate change.
The Census Bureau report said the drop was comparable to September 2009, a few months into the Great Recession. “Advance estimates of U.S. retail and food services sales for December 2018… were $505.8 billion, a decrease of 1.2 percent… but 2.3 percent above December 2017,” the report said. Strong job gains, wage growth, and the drop in gasoline sales should be very…
Using current Census Bureau data, two researchers now predict that the nation’s population will be transformed in the future— and immigration is the catalyst. “Net immigration will add 75 million to the population, accounting for 95 percent of the increase by 2060. Despite such transformative growth, this high level of immigration will do little to increase the…
Q&A: Should Anyone Worry About A $22 Trillion National Debt?
Piles of federal debt have been growing ever higher for years, fueled by accumulating annual deficits, which themselves have been driven by tax cuts, government spending increases and the mounting costs of Medicare and Social Security and interest on the debt itself. So what does it all mean for the economy?
Feb. 13– On Tuesday, President Trump defended the recent 35- day government shutdown. He did not get what he wanted from a Republican Congress. With Democrats now in charge of the House, his leverage has diminished.
Pat Toomey, R- Pennsylvania, issued the following news release:. U.S. Senator Pat Toomey is defending property rights, a growing economy, and middle-class Americans from a recent proposal by Senators Bernie Sanders and Chuck Schumer that would severely restrict the ability of American companies to buy back their own stock. In a speech on the Senate floor, Senator…
The committee met three times to discuss the bills needed to placate Republicans, Democrats and President Donald Trump, who so far has refused any bill that doesn’t include $5.7 billion toward a wall on the southern border. Lawmakers wouldn’t discuss the details publicly but sources told NBC News, The Hill and CNN the bill includes $1.375 billion for physical…
We’re used to Republican members of Congress popping up from their chairs and dutifully applauding President Donald Trump- and to Democrats, with rare exceptions, sitting glumly. The women- many of them newcomers to Congress- perked up. House Speaker Nancy Pelosi beamed.
Feb. 10– LAWRENCE– Taking many shots at the rich and powerful, U.S. Sen. Elizabeth Warren chose the starting place of the 1912 Bread and Roses Strike to launch her presidential campaign on a bright but frigid Saturday morning. “The middle-class squeeze is real, and millions of families can barely breathe.
Feb. 08– Trump emphasized the strong economic improvement achieved on his watch. The U.S. economy, he noted, “is growing almost twice as fast today as when I took office. But you wouldn’t know it from the Democratic response to Trump’s speech, given by former Georgia gubernatorial candidate Stacey Abrams.
New Jersey Sen. Cory Booker is taking his call for social justice to Iowa, where he plans to visit with African-American leaders on his first trip to the early 2020 caucus state as a Democratic presidential candidate. Booker is using rhetoric reminiscent of the civil rights movement to distinguish himself early in the 2020 race. And although Iowa is a vastly white state, the sentiment echoes within the state’s Democratic base. Booker’s two-day trip begins Friday.
Alexandria Ocasio-Cortez, New York Democrat, released Thursday the much-anticipated Green New Deal resolution, outlining a sweeping overhaul of the economy and energy sector laden with ambitious social-justice goals. Ed Markey, Massachusetts Democrat, introduced non-binding resolutions in the House and Senate calling for a “10- year national…
Feb. 07– WASHINGTON– President Trump continues to have a blunt message for upstate New York residents who are worried about the region’s economy: Get out. “If New York isn’t gonna treat them better, I would recommend they go to another state where they can get a great job,” Trump said Wednesday. Trump portrayed New York residents as victims of their state government.
The U.S. trade deficit narrowed in November as imports fell faster than exports. The Commerce Department says the gap between what the United States sells and what it buys from other countries dropped to $49.3 billion November from a revised $55.7 billion in October.
