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11 Jul 2011 16:41

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Politics: President Obama on debt limit: time to “eat our peas”

  • It’s not going to get easier, it’s going to get harder. So, we might as well do it now. Pull off the band-aid. Eat our peas. Now is the time to do it. If not now, when? … I’m prepared to do it. I’m prepared to take on significant heat from my party to get something done. And I expect the other side should be willing to do the same thing, if they mean what they say that this is important.
  • President Obama • Speaking on the debt limit negotiations. The postures from both sides should seem pretty familiar, as it’s nothing that new for the Democratic/Republican dynamic under the Obama administration. Namely, rigid ideology from the GOP has forced a combination of increasingly desperate overtures and condemnations from the White House. That a compromise needs to be reached isn’t in question — despite talk about invoking the 14th Amendment to raise the limit himself, that strikes us as the sort of thing he’d avoid doing at all costs. Rather, his inclination is towards bipartisanship, which is a noble enough endeavor. Frankly, though, the GOP’s negotiating in this matter has been in starkly bad faith, for just the reason the President details; he’s been willing to offer up cherished Democratic programs to be cut. The GOP, on the other hand, has made it clear they won’t consider any tax revenue increases. Why can’t you Democrats just embrace Republican orthodoxy? That’s a compromise, right? We hope this gets done soon, and fairly. source

11 Jul 2011 15:36

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Politics: What is the cost of hacking into a major politician’s voice mail?

  • This fire keeps burning: In the wake of the scandal and subsequent closure of News Of The World, British society has been thrust into a debate about journalistic ethics, and for former PM Gordon Brown the matter isn’t just academic; in addition to the scurrilous behavior we mentioned earlier, Brown specifically believes journalists tried to access his voice mails. We confess ignorance on British law, but this seems like the sort of thing that could easily be called a national security risk, which would be bad news for whoever was calling the shots. News International ended News Of The World altogether to try to nip this cell hacking story in the bud. Even if they had the zeal to shut down The Sun and the Sunday Times as well, it’s too late now. This story looks nowhere near finished. (Photo courtesy Remy Steinegger/World Economic Forum). source

10 Jul 2011 20:48

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Politics: Debt-ceiling drama: This mess needs to end really freaking soon

  • 10 freaking days to pull off this bloody debt-cutting mess source
  • » Can they kiss, make up and pull off a debt deal? With Republicans suddenly pushing for a smaller short-term agreement and Obama going all heave-ho in favor of a larger one, Obama’s starting to show some boldness that we haven’t seen in a while. In terms of political battles, he called the GOP’s bluff. To be clear, tax increases are the main sticking point here, but are we starting to see the limits of the all-or-nothing approach the GOP has to taxes? Obama looks like he’s not going to blink. But either side could.

10 Jul 2011 12:08

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Politics: Debt-reduction plan: The GOP wants the smaller deal. Wait, what?

  • biggish Republicans appear ready to agree to a $2.4 trillion debt-cutting agreement to allow the debt ceiling to go up, and to help prevent the country from defaulting on its loans. It’s something that Republicans have been fighting towards for a while. So what’s this drama we’re hearing about Boehner backing down last night?
  • bigger However, Obama’s eyeing a different deal — a much-larger $4 trillion one, which (over the next decade) would increase taxes for the top-fifth of incomes by cutting back tax credits and deductions — but in the process, trimming the debt significantly. Is it us, or does Obama seem more serious about fixing this issue? source

09 Jul 2011 14:09

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Politics: Minnesota Dem: Republicans put “feet in cement” on compromise

  • Yes, both sides need to participate. When one side holds out or puts their feet in cement, how can a compromise ever be reached? That’s what we have now.
  • Minnesota State Sen. Barb Goodwin • Offering her take on the whole government shutdown situation, which has kept the doors closed on the state for over a week now. According to Goodwin, a Democrat, “the shutdown could have been avoided.  For ten weeks during session, Republican leaders put the budget on the back burner and dealt with social issues instead.” Goodwin claims that most of her constituents simply want to see the shutdown end, and support Gov. Mark Dayton’s proposals. (thanks @JohnNesssource

08 Jul 2011 14:27

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Biz, Politics: Unemployment numbers show Obama’s major hurdle in 2012

  • 9.2%unemployment rate, which jumped last month unexpectedly
  • 18,000number of jobs added, which is straight-up anemic source
  • » Why this stinks for Obama: Early on in his administration, he said it wouldn’t go higher than 8.2%. While unemployment declined for a little while, it’s been steadily going up again. The Obama administration is trying to downplay the issue, but it’s proving difficult, and could prove his major flaw in the upcoming election. It’s an easy target for GOP candidates. Instead of talking about how he’s helped turn the economy around, Obama is going to have to fight back by saying how the Republicans will make it worse, and let’s face it: That doesn’t sound like such a great defense.

07 Jul 2011 10:05

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Politics: Bachmann retakes Waterloo for purposes of presidential campaign

  • Credit to Bachmann: By naming her first campaign clip “Waterloo,” she certainly is going far to retake the word away from that battle Napoleon lost. And the chiming guitars do give her talk of not raising the debt ceiling the warmth that few thought the topic had. Though if we were to do this again, we might focus less on the wasteful spending and more on the economy. source
 

06 Jul 2011 22:04

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Politics: Connecticut mandates sick leave for employees, first in nation to do so

  • YES every worker in CT will receive paid sick time source
  • » Bucking the trend: 2011 hasn’t been a great year for worker’s rights; for further information on this, Google “Scott Walker.” However, Connecticut Governor Dan Malloy reversed the tide this week, signing a bill that grants all employees, public and private, one hour of mandatory paid sick leave for every 40 hours worked. This is the first real political victory workers have enjoyed all year, at least at the state level; in addition, Connecticut is the first state in the nation to pass such a law. The only thing proponents of the law didn’t get? A signing ceremony for the bill. (Note: the law only applies to companies with more than 50 employees).

06 Jul 2011 14:26

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Politics: Bill Clinton puts recovery ahead of deficit reduction

  • Almost nobody’s talking about one of the central points that everyone who has analyzed this situation makes – including the bipartisan Simpson-Bowles commission – which [is] you shouldn’t do any of this until the economy is clearly recovering.
  • Bill Clinton • Discussing the deficit-reduction fight going on in Washington, with dealing over the debt limit functioning as a negotiating tool for the GOP to push for spending cuts. This is an angle that’s been taken by many mainstream economists (though obviously, the world of economics can be as contentious as anywhere else), namely that the ability to put off paying down the deficit for a while, though it may not jive with the popular notion of fiscal responsibility, is a valuable tactic to avoid straining the economic recovery. To use an overly simplistic metaphor, if we were to gain thirty pounds over the course of a year, working out twelve hours every day wouldn’t be a healthful way to slim back down. It takes a while to gain the weight, so it’s only natural and measured that it’ll take a while to safely cast it off again. source

06 Jul 2011 09:43

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Politics: Mitt Romney, fundraising machine; Newt Gingrich debt-saddled

  • $18.25 million the amount in donations that Mitt Romney received in the second quarter; the leading GOP candidate is pretty far ahead of the other guys
  • $1.2 million the amount in invoices that Newt Gingrich has; he’s paid them down by ten percent, but still has significant debt issues source
  • » Everyone else is kind of in the middle: With Tim Pawlenty, Jon Huntsman and Ron Paul hovering around the $4 million mark, and Herman Cain around $2.5 million, all pale in comparison to the Mittster, who is unemployed. Newt, who raised $2 million, was saddled with massive debt as a result of much of his senior campaign staff leaving; he has just $225,000 in the bank, which is extremely low. Newt, this presidential thing isn’t gonna work out.