The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.» Read More
House Ways and Means Chairman Charlie Rangel has adopted an unorthodox strategy for his attempt to achieve tax reform. Forget polarization--Rangel is trying to hug the Bush administration as tightly as possible.
The U.S. House Thursday failed to overturn President Bush's veto of a plan to expand a popular children's health care program and pay for it by raising tobacco taxes.
Presidential power ebbs and flows and George W. Bush is holding very weak cards just now. But as he likes to point out, sometimes with more than flattering zeal, he is still the president and everyone also just kibitzes. `
Those of us who cover politics in Washington are constantly trying to figure out what we DON'T know. Seeing a huddle of strange bedfellows instantly sets off our alarms that something remarkable could be happening.
It’s going to be a joyful—and profitable—holiday season for retailers, according to the latest CNBC Wealth in America survey. Americans plan to spend an average $839 during the holiday season, up 17.6% from last year.
Forget the credit crunch, housing recession and fears of slower economic growth. Americans plan to open their wallets during the holidays this year, though maybe not on those cheap Chinese toys. Spending is expected to jump 17% from last year, to an average of $839.
Mitt Romney is a big (and very rich) boy, and has earned some of the shots that have come his way in the 2008 presidential race. Most prominent among them have been barbs at the evident calculations he has made in flip-flopping on key issues to appeal to the conservative Republican base.
In recent history, Democrats have been the party of disorder and confusion in the ranks. To their House of Commons, Republicans have been the House of Lords. That has typically meant an orderly line of succession, with one establishment candidate after the other stepping up to claim their chance at the presidential prize: Ronald Reagan in 1980, his vice president George Bush in 1988, Bob Dole in 1996, the younger George Bush in 2000.
So, what does this rising anti-trade sentiment mean for Republican politicians--and Democratic ones, for that matter? It's tricky because, rhetoric aside, most economists and elected officials in both parties in fact DO believe free trade offers the best path to economic growth in a global economy.
The Arizona senator was counted out earlier this year after public discontent with Iraq and immigration reform knocked him off his front-runner's perch. When I'd see him in Washington, McCain himself would acknowledge the damage. But don't count him out yet.
The numbers are in and it was a rich third quarter for candidates--Hillary Clinton's campaign raised $27 million in the third quarter, beating Barack Obama, whose campaign raised about $20 million over the same time period.
The single signature moment of last night's debate was what first appeared to be Hillary Clinton's declaration of independence from her ex-president husband. "He's not the one standing here"--her line after Tim Russert pressed on differences between her position and Bill Clinton's on torture--was a dramatic and effective moment of self-assertion.
Democratic presidential candidates pounced on rival Hillary Clinton for her positions on Iraq and Iran in a debate on Thursday as they sought to undercut her status as the campaign front-runner.
President Bush's speech at the UN today was notable for a couple of reasons--not merely the fact that he ostentatiously rolled his R's in referring to Peru and Morocco. He declined to rise to the provocative rhetoric of Iranian President Mahmoud Ahmadinejad. He didn't want to make the Iranian leader the focus of his speech.
Even though semi-professional historian Karl Rove has left the White House, they are still paying attention to past administrations at 1600 Pennsylvania Avenue. They're especially paying attention to how Bill Clinton revived his fortunes in the 1990s by fighting with the GOP Congress over spending.
When Erin Burnett's show "Street Signs" called me to talk trade this afternoon, the question was "Is Trade Dead?" I thought, for this Congress, it was--until I did a little reporting. As it happens, Republican and Democratic leadership sources both expect SOME progress on trade before the 2008 elections.
Alan Greenspan may call himself a libertarian Republican, but his new book provides a major credibility boost for Democrats on economic policy. The first, and less surprising, blow came in his criticism of the Bush-era spending excesses. Many conservative Republicans have long offered that critique.
One question about market turbulence that I'll be watching is its effect on the 2008 presidential race. It's not clear the disruptions will prove long lasting, much less lead to an economic recession. If it proves a short-term blip, the effects will be negligible.