FUBAR

Obama’s lament: ‘I inherited this mess’

Obama’s lament: ‘I inherited this mess’

President Barack Obama said on Monday he inherited many of the country’s problems with high debt and deficits when he entered the White House, sounding a theme likely to dominate his 2012 re-election campaign. Speaking at a Democratic fundraiser, where families paid $15,000 to get a picture with him, Obama defended his economic record and […]

S&P downgrade: Economics or politics?

S&P downgrade: Economics or politics?

The S&P downgrade was more of a statement on the toxic political landscape in Washington than a comment on the nation’s ability to pay its bills. But S&P has its own checkered history. Just a few years ago, the company gave its top triple-A rating to some of the mortgage-backed securities that helped cause the […]

House kills 180-year-old page program

House kills 180-year-old page program

Bringing the curtain down on a nearly 200-year-old tradition, leaders of the US House of Representatives announced Monday that they were doing away with the chamber’s “page” program. Republican House Speaker John Boehner and Democratic House Minority Leader Nancy Pelosi cited the high cost of the program as well as advances in technology that have […]

New GOP campaign tactic: Pray for America

New GOP campaign tactic: Pray for America

Texas Governor Rick Perry, expected to enter the Republican race for the White House within weeks, offered a prayer for America on Saturday at a controversial religious rally that put the spotlight on his Christian faith. Perry, who has made his religious beliefs a big part of his public image, urged an enthusiastic crowd at […]

Credit rating downgrade brings political pot to a boil

Credit rating downgrade brings political pot to a boil

America’s historic loss of its top-notch credit rating failed to cool the feud between Republicans and President Barack Obama‘s Democrats which threatens to drive the US economy into disaster. Despite being rebuked by ratings blue chip Standard & Poor‘s over political “brinkmanship,” US politicians dug deeper Saturday into inflexible positions on spending cuts, deficits and […]

U.S. credit rating downgraded: Blame game begins

U.S. credit rating downgraded: Blame game begins

Republicans and Democrats quickly doled out blame to each other for the first-ever downgrade in the nation’s sterling credit rating, an expected but unsettling move that further clouds prospects for the recovery of the fragile United States’ economy. The back and forth came after Standard & Poor‘s, one of the world’s three major credit rating […]