Archives for News

Obama readies another mortgage bailout

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages. The administration has been working for weeks on how to implement a mortgage relief program. President Barack Obama could include a nod to the plan in a speech on job creation next week, sources familiar with the administration’s plans said. The refinancing initiative would allow certain borrowers to refinance loans that are backed by government-owned Fannie Mae and Freddie Mac or the Federal Housing Administration, the sources said. A broad-based effort
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FEMA boss: Money won’t be a problem for hurricane relief

The head of the federal disaster assistance agency says recovery efforts in the wake of Hurricane Irene will proceed regardless of a dwindling emergency fund. Federal Emergency Management Agency administrator Craig Fugate tells CBS’s “The Early Show” a drawdown in assistance funds will have no negative impact on the agency’s efforts to help stricken Eastern Seaboard states. Fugate says “we’re going to do what we’re supposed to do.” He says FEMA “will work with the White House on funds needed to recover from this and other disasters.” The agency has less than $800 million left in its disaster coffers. Fugate
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Another gay Republican hypocrite bites the dust

A Puerto Rico lawmaker has resigned following reports that explicit photos of him surfaced on an iPhone application for gays and bisexuals, the head of the U.S. territory’s Senate announced Sunday. Sen. Roberto Arango, a Republican who represents the capital of San Juan for the island’s governing party, presented his letter of resignation after a weekend meeting, Senate President Thomas Rivera Schatz said. Schatz did not release the lawmaker’s letter, but said the circumstances that led to the resignation “are very lamentable.” Local news media published photos from the application showing a man’s nude upper body with a cell phone
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Barack Obama is a complete, utter failure

Barack Obama is a failed President. His legacy — such as it is — will be a failed economic recovery, double-dip recession and devastated American morale. The president of hope and change has destroyed hope and delivered nation-ruining change. His failed policies have left America economically devastated. He can’t deliver on his campaign promises because he has broken or forgotten them. He can’t lead the nation out of its morass because he is not a leader. Business Executive John Mariotti, writing in Forbes, says it best: There will be no significant recovery in the United States of America while Barack
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Obama in trouble with key voters

Whites and women are a re-election problem for President Barack Obama. Younger voters and liberals, too, but to a lesser extent. All are important Democratic constituencies that helped him win the White House in 2008 and whose support he’ll need to keep it next year. An analysis of Associated Press-GfK polls, including the latest survey released last week, shows that Obama has lost ground among all those groups since he took office. The review points to his vulnerabilities and probable leading targets of his campaign as he seeks to assemble a coalition diverse enough to help him win re-election in
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Ron Paul: U.S. involvement in Libya was still a mistake

Republican presidential hopeful Ron Paul said Sunday the apparent overthrow of Moammar Gadhafi’s regime in Libya does not justify U.S. involvement there and may end up delivering al-Qaida what he called “another prize.” The Texas congressman has made his mark in the presidential race as a strict libertarian who would scale back the role of the federal government in domestic and foreign affairs. A recent Gallup poll shows him in third place in the GOP race for the presidency. Asked on “Fox News Sunday” whether getting rid of Gadhafi was a good thing, Paul conceded that it was but added
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Powell: Cheney takes ‘cheap shots’ in book

Former U.S. Vice President Dick Cheney‘s new book levels “cheap shots” at colleagues and mischaracterizes events, ex-Secretary of State Colin Powell said on Sunday. Powell, whose disagreements with Cheney on issues such as Iraq have been well known for years, said President George W. Bush‘s national security team did not function smoothly and that he had advised Bush to try to resolve the problem. “We had different views,” Powell told CBS’s “Face the Nation,” adding that the views could not be reconciled. In the CBS interview, Powell was asked about passages in Cheney’s book, “In My Time,” that are critical
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The inconvenience of truth in politics

Corporations are people. The fundamentals of the economy are strong. I voted for the $87 billion before I voted against it. From Mitt Romney this month to John McCain in 2008 and John Kerry four years earlier, presidential candidates are caught telling the truth by accident in every campaign, blurting a phrase that is both factual but politically ill-advised. Those moments speak to the deeply contradictory nature of American politics. Voters say they want authentic, straight-talking candidates. But voters also tend to punish candidates who veer too far off script or who make assertions that, while true, cause people to
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Tea Party takes its sideshow on the road

With the Republican campaign for the White House taking shape, hundreds of Tea Party activists kicked off a national bus tour on Saturday, aiming to rally their base and new recruits to the conservative political cause. As supporters waved American flags and carried signs that read, “I’ll keep my money, guns and freedom, you keep the change,” organizers said the “Reclaiming America” bus tour was about restoring good governance. “We want Washington to live within its means, just like we do,” said Amy Kremer, chairwoman of the Tea Party Express, a group organizing the tour. “We’re in an economic downfall.
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Obama’s inner cirlce: A shield from political storms

They golf with him, they vacation with him, their kids and his kids hang out. To them, he’s Barack, not Mr. President. He can be teased and tease back. They form the trusted circle of tight-lipped friends who’ve sustained Barack Obama through good times and bad since his days in Chicago, from Hawaii to Washington to Martha’s Vineyard and back again. For the most powerful man on the planet who nonetheless may have one of the loneliest jobs, a close band of buddies — Eric Whitaker, Martin Nesbitt and Valerie Jarrett form the core — has become a second family,
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