congress

| The White House

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From: The White House “In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference, including allowing these homeowners to save thousands of dollars by refinancing at today’s low interest rates. That’s why the President … Read more

The Roof Has Been Raised: $16.4 Trillion Debt Ceiling

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Well, it’s looking like  the Senate was unable to muster enough votes to reject the newest debt ceiling hike in a 52 to 44 vote.  Due to take effect this Friday, we will be looking at a new ceiling of $16.4 trillion with our current levels reaching the $15.4 trillion mark. From Zerohedge: “Since roughly $100 billion was plundered from Pension Funds in the past month, The US will have about $15.4 trillion in debt with the Monday DTS. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won’t be enough … Read more

Ex-Wife Says Gingrich Wanted ‘Open Marriage,’ ABC Reports

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In the sport of mudslinging timing is everything.  And Mitt Romney is breathing a sigh of relief as ABC’s report detailing his attempt to initiate an open marriage between his ex-wife (his current wife at the time) and current wife (his mistress at the time) hit headlines just in time to draw attention away from his admittance to multiple offshore bank accounts in the Cayman Islands.  Tax evasion just doesn’t seem to pique the interests of the American population the same way a spousal approved Ménage à Trois does.. Jan. 19 (Bloomberg) — Former U.S. House Speaker Newt Gingrich asked for … Read more

Warren Buffett calls Tea Party Insane

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Charlie Rose – Warren Buffett.   As always Buffett is illuminating and comforting.  He is the nation’s economic compass and a person we can consider a  genuine national treasure if there ever was one.   In this great interview with Charlie Rose he likens the budget debate as a game of chicken with two cars lined up heading  toward one another.  Both parties think the other will turn away before mutual self destruction except suddenly one party throw the steering wheel out the window.  Suddenly the other driver realizes he is dealing with an insane person, aka the Tea Party.

Congress Fails The People

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US voters disapproval of Congress hits all time high Disapproval of Congress rose to an all-time high after weeks of rancorous partisan battles over raising the US debt ceiling took the Nation to the brink of default, according a New York Times/CBS News public opinion poll published Thursday. A record 82% of Americans say they disapprove of the way Congress is doing its job, compared with 14% who approve, the poll found. The disapproval rating for Congress was the highest in the 34 yrs the question has been asked in the poll and up from the previous high of 77% … Read more

Congress averts default, downgrade fears haunt

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WASHINGTON (Reuters) – Congress buried the specter of a debt default by finally passing a deficit-cutting package on Tuesday, but the shadow lingered of a possible painful downgrade of the top-notch American credit rating. Just hours before the Treasury’s authority to borrow funds ran out, the Senate voted 74 to 26 to pass a hard-won compromise to lift the government’s $14.3 trillion debt ceiling enough to last beyond the November 2012 elections. President Barack Obama, who will seek a second term next year, was expected to immediately sign the deal into law, although without any White House ceremony. His signature … Read more