Update: Republicans have named their members of the so-called super committee. On the House side: Reps. Jeb Hensarling (Texas), Dave Camp (Mich.), and Fred Upton (Mich.). On the Senate side: Sens. Jon Kyl (Arizona), Pat Toomey (Pa.) and Rob Portman (Ohio).
Sen. Harry Reid has made his selection of Democratic senators to serve on the Super Committee, a bicameral and bipartisan committee designed as part of the debt deal to eliminate at least $1.2 trillion in debt over the next ten years. Reid chose three senior Democrats, Sen. Patty Murray, who also heads the DSCC, Sen. Max Baucus, finance chairman, and Sen. John Kerry, foreign relations chairman, and Sen. Mitch McConnell is expected to make his selection of three Republican senators in the next 24 hours. Who do you think he should pick? Let us know what you think in the comments.
Today marks the sixth birthday of NewsBusters. We've worked to uncover major scandals like ClimateGate, continually highlighted the liberal nonsense to come from the mouths of Chris Matthews, Ed Schultz, and Keith Olbermann, and have always enjoyed sharing the community with you for the past six years.
In recent years, America has become increasingly socialized through a welfare state with entitlements seen as rights, mostly paid for by the rich through the redistribution of wealth. Such a state is seemingly the goal of President Obama and fellow liberal Democrats, who relish in the ideas of a more European-style centralized government.
Last week, many labeled the debt negotiations in Congress as a failure of the American political system, laying much of the blame on Tea Party Republicans who were reluctant to compromise on their principles. One of their main convictions was in cutting away unnecessary social programs, which have put an unsustainable burden on the economy. Do you think the US can continue to support socialized programs, or will socialization lead to the economic calamities currently seen across much of Europe? Let us know your thoughts in the comments.
Despite the media hype, American taxpayers still stand to lose a bundle from the government takeover of General Motors, thanks in large measure to the lack of credibility the company's Obama-mandated obsession with the unpopular Chevrolet Volt:
GM announced earnings this morning and the numbers appeared to be good on the surface. Media friends of GM trumpeted the good news but the celebration did not last long. The festive mood was replaced with GM apologists trying to explain the negative share price reaction.The obvious overhang of UAW obligations seemed to be ignored, as did the lack of management credibility. One TV commentator known for his defense of GM attributed the sell-off to "bankruptcy fatigue", claiming that investors are still punishing GM for its trip through bankruptcy. Nonsense.
The people who control the big money on Wall Street are not concerned with the past actions of a corporation as much as they are with actions that give an indicator of what the future holds. The problem with GM is not that it suffers from "bankruptcy fatigue", but rather "credibility fatigue."
In June, the Treasury Department announced that Treasury Secretary Tim Geithner was considering resigning once the debt crisis was averted. With the debt limit deal passed yesterday, the speculation of his departure date is once again making the airwaves.
Leaving now would allow Geithner to leave on a much better note than he could have, but could also create a vacancy in an important cabinet position in an already weak economy. Do you think now is the best time for Geithner to resign? Let us know what you think in the comments.
Republicans and Democrats both seem to have come up short of a debt deal they really like. Many Republicans wanted more cuts, while many Democrats wanted more taxes on the rich. Both sides technically got something good out of the deal, but neither side is satisfied.
One person that might have emerged as a winner, though, is President Obama, who supported a deal that will push any fiscal problems until after the 2012 election. Do you think he emerges victorious from the debt debates? Let us know what you think in the comments.
Late last night, President Obama announced that Democrat and Republican leaders had agreed on a plan with Obama's approval to raise the debt ceiling. The plan would prevent any possible defaults that could occur on August 2 if the deal is not passed in Congress.
The plan is still subject to congressional approval, and many Democrats and Republicans are already speaking out against it. Check out a summary of the deal after the break, and let us know your thoughts in the comments.
Today's starter topic: As you likely know, there still is no agreement on the debt ceiling. Perhaps the government should hit up computer manufacturer Apple for the cash, since the liberal-loved company now has more cash on hand that the U.S. Treasury:
Global warming, aka climate change, is the scapegoat for everything from record snowfalls to disastrous tornadoes. As such, it is also the perfect route for governments to closely control their citizens by regulating the smallest of details, like which lightbulbs they are allowed to use, to supposedly fix the problem.
Czech President Vaclav Klaus, who grew up under totalitarian rule, is speaking out against what he sees as the latest government attack on democratic freedom, environmentalism, which he argues closely parallels the thefts of freedom under communism. Do you agree with him? Let us know what you think in the comments.
House Speaker John Boehner and Senate Majority Leader Harry Reid have both released debt limit plans, but if House Republicans don't support Boehner's plan, they could be handing President Obama an easy victory.
The debt limit debate has not only sharply divided Republicans and Democrats, but it might also be forcing a schism among Republicans who favor a permanent solution now versus Republicans who want a temporary fix with better solutions later, opening the door for Reid's plan to gain greater support. Do you think Republicans should support an imperfect Boehner plan? Or do you think they should avoid compromise and find a better solution? Let us know what you think in the comments.
Even if his campaign just brought in $86 million, President Obama has a big problem in 2012--he doesn't have the youth support he did in 2008. In the eyes of many young voters, he is no longer a trendy celebrity, but just another politician. The faltering of Obama's youth support might mean that a Republican candidate can pick it up in 2012, but with a GOP field so wide and diverse, the winner of the youth bloc is yet to be determined.
Do you think any of the GOP candidates can win the youth vote in 2012? Let us know what you think in the comments.
For a field of Republican presidential hopefuls spread so thin, it seems that the clearest strategy to gain support would be to orchestrate the best campaign against President Obama, especially against his failed economic policies. Instead of focusing all their attention on the president's failures, though, former Gov. Tim Pawlenty and Rep. Michele Bachmann, both of Minnesota, are also spending time campaigning on the shortcomings of each other.
Do you think the candidates should instead limit their campaigns to the current problems America is facing? Or do you think the climb to the top is most successful with a combination of campaign tactics? Let us know what you think in the comments.
Today's starter topic: Rick Perry. He's continuing to generate buzz in the context of the 2012 Republican presidential primaries and now for the first time, the Texas governor is favored by bettors on the oddsmaking site Intrade to actually get the nomination:
Texas Gov. Rick Perry may not have formally declared his presidential candidacy yet, but bettors on the news-futures website Intrade already are giving him the same chance of becoming the 2012 Republican nominee as former Massachusetts Gov. Mitt Romney, the presumed front-runner.
Mr. Perry’s nomination odds reached a high of 33 percent Thursday morning, eclipsing Mr. Romney for the first time. Mr. Romney, trading at 32 percent, had been Intrade’s 2012 favorite since betting on the GOP nomination began in 2008 and had even consolidated his front-runner status in recent months as his opponents stumbled and other would-be challengers opted not to run.
After the House passed the Cut, Cap, and Balance act Tuesday evening with the support of five Democrats, Sen. Jim DeMint is circulating a Club for Growth video with 20 prominent Democrat senators previously announcing support for a balanced budget amendment in hopes of swaying their votes this weekend.
Do you think any of these Democrats will maintain support for such an amendment? Check out the video after the break, and let us know your thoughts in the comments.
Last night, nine Republicans and five Democrats broke with their parties on the Cut, Cap, and Balance Act, which would require a balanced budget amendment if the debt ceiling were to be raised. Two of the Republicans who voted against it were presidential hopefuls: Rep. Michele Bachmann (Minn.) and Rep. Ron Paul (Texas), both of whom believe the act doesn't goes far enough.
With growing frustration towards President Obama and certain members of congress for their lackadaisical approach in balancing the budget and reducing spending, many people are beginning to think they could do a better job than our country's leaders. Using data collected by the non-partisan Congressional Budget Office, American Public Media and the Woodrow Wilson Center put together an interactive game to do just that, giving control of the economy to the players using actual proposed budget plans.
Check out the game after the break, and let us know what you think of it in the comments.
One month ago, President Obama blamed the sluggish economy on technologies like ATMs and self-service kiosks, extremely underestimating the value Americans find in innovation. To prove how vital new technology is to the economy, Southern Methodist University professor Michael Cox asked his students how much money they would have to be paid to give up the internet for the rest of their lives, but found few takers to his proposal.
Do you think you could be paid to give up the internet forever? Check out a video produced by the free market group the Fund for American Studies after the break, and let us know what you think in the comments.
The Federal Election Commission, which serves to govern the financing of federal elections, ended its second quarter for presidential fundraising on June 30. Of the Republican candidates who released their numbers, former Gov. Mitt Romney led the Republican presidential hopefuls with $18.3 million, trailed by Rep. Ron Paul with $4.5 million, former Gov. Tim Pawlenty with $4.2 million, and former ambassador and Gov. Jon Huntsman with $4.1 million. Earlier this morning, Obama 2012 campaign manager Jim Messina previewed President Barack Obama's fundraising numbers and placed his fundraising sum at $86 million, far overshadowing any of his GOP competitors.
While the number appears ominous to his rivals, it isn't as staggering as it seems, and might even place Obama behind the mark of where he hopes to be. As National Review's Jim Geraghty explains, Obama's fundraising is actually behind his 2008 pace, and if he keeps the same pace for the remaining seven quarters, will not come close to achieving his goal of $1 billion. Check out more of Geraghty's analysis after the break, and let us know your thoughts in the comments.
During former President George W. Bush's time in office, he was regularly described as fascist, murderous, and a war criminal for his wars in Iraq and Afghanistan. Even if people didn't support the wars, though, Bush obeyed the law and received congressional approval to be in the countries. President Barack Obama is the one acting above the law, having yet to seek approval for being at war with Libya and ignoring the War Powers Act, but the media remains absent on labeling him with the same names.
While the Tea Party movement has largely been viewed as a resurgence in conservative values away from big government Republican politicians, its fiscal policies are attracting a new crowd: fiscally conservative Democrats.
With remarks from both Rep. Michele Bachmann and Republican National Committee chairman Michael Steele that the Tea Party embraces a number of disaffected Democrats, but arguments from Democrats that the Tea Party will never vote for anyone besides a Republican, it remains unclear what effect the more liberal faction of the Tea Party will have on the 2012 elections.
Check out analysis of the Tea Party minority group after the break, and let us know what you think in the comments.
In another effort to engage the online community once bubbling with support for President Barack Obama, Obama will participate in a Twitter town hall today at 2 pm EDT to answer questions on jobs and the economy posed by Twitter users with the hashtag #askobama.
The questions Obama answers will be handpicked by Twitter staffers and pre-selected Twitter users, who will be tracking the popularity and geographical distribution of the questions to determine which questions to ask Obama. Don't expect any hardball questions, though. As Michelle Malkin points out, the moderator of the town hall, Twitter co-founder Jack Dorsey, is a close friend of the administration as a State Department adviser.
Will you be participating? Let us know what you think of Obama's latest online engagement effort in the comments.
With the deadline for raising the debt ceiling looming less than a month away, there are mixed feelings about raising the debt ceiling among debt-conscious politicians who are hesitant to give more spending power to the government. The Treasury Department has given August 2 as the estimated date on which the U.S. will no longer be able to meet fiscal obligations if the debt ceiling is not raised, though.
Sen. Rand Paul explained on Sunday that Republicans would be more in favor of raising the debt ceiling if there were a balanced budget amendment in the Constitution to obligate the federal government to balance its budget each year and prohibit it from running a deficit.
Check out a video of Paul's remarks after the break, and let us know what you think in the comments.