Great Depression

Facts don’t support hype of Obama’s failed health care law

Facts don’t support hype of Obama’s failed health care law

President Barack Obama told voters repeatedly during the health care debate that the overhaul legislation would bring down fast-rising health care costs and save them money. Now, he’s hemming and hawing on that. So far, the law he signed earlier this year hasn’t had the desired effect. An analysis from Medicare’s Office of the Actuary […]

Obama’s plan: Spend money, blame Republicans

Obama’s plan: Spend money, blame Republicans

A combative President Barack Obama rolled out a long-term jobs program Monday that would exceed $50 billion to rebuild roads, railways and runways, and coupled it with a blunt campaign-season assault on Republicans for causing Americans’ hard economic times. GOP leaders instantly assailed Obama’s proposal as an ineffective one that would simply raise already excessive […]

Congressmen probed in pay-for-votes scheme

Congressmen probed in pay-for-votes scheme

House investigators have recommended that three lawmakers be further investigated to determine whether political contributions were improperly linked to votes on the huge financial overhaul bill. The independent House Office of Congressional Ethics recommended that the member-run House ethics committee pursue potential rules violations by Republicans John Campbell of California and Tom Price of Georgia […]

Obama’s plan: Bash Bush

Obama’s plan: Bash Bush

President Barack Obama rallied support for his embattled Democrats on Monday, charging that Republicans had no ideas different from those pursued by his predecessor, George W. Bush. At a fund-raising lunch for the Democratic National Committee, Obama tried to energize Democrats who are likely to lose seats in both chambers of the U.S. Congress in […]

Harry Reid’s uncertain future

Harry Reid’s uncertain future

Senate Democratic leader Harry Reid’s chances for six more years in Washington may be like tossing dice in a casino, even if he has made headway against Republican challenger Sharron Angle in a state with the nation’s highest rate of joblessness. The four-term Reid holds a slight lead over Angle in the latest polling, thanks […]

Political spin clouds economic realities

Political spin clouds economic realities

Midterm politics are distorting economic decision-making as leaders of both parties spin rival views of the road ahead, offering visions based on questionable economics. The resulting political angst is leaving a mark on major legislation. A far-reaching financial overhaul bill signed by President Barack Obama on Wednesday reflects voter anger over bankers, bailouts and bonuses. […]

Obama signs Wall Street reform bill

Obama signs Wall Street reform bill

President Barack Obama signed into law on Wednesday the most comprehensive financial regulatory overhaul since the Great Depression, vowing to stop risky behavior on Wall Street that imperiled the U.S. economy. Influential business groups lined up to criticize the new law, underscoring Obama’s uneasy relationship with America’s business community. Some on Wall Street, however, welcomed […]

Obama to sign historic financial overhaul bill

Obama to sign historic financial overhaul bill

President Barack Obama claims a moment of history Wednesday as he signs into law the most sweeping finance reform since the 1930s Great Depression. The legislation, which some Republicans have already pledged to repeal if they regain power in Washington, will fundamentally overhaul the US government’s regulation of Wall Street and create a political legacy […]

Sessions predicts GOP takeover of House

Sessions predicts GOP takeover of House

A top Republican lawmaker on Sunday predicted his party would win back the House of Representatives from Democrats in the November mid-term elections, as both parties previewed the arguments they will deploy in the battle for control of Congress. Republican Representative Pete Sessions said his party would win “slightly over” 40 House seats, which would […]