Congress has begun to demonstrate that it just doesn’t get it. The wave of hope, some might say desperation, that put Barrack Obama in the White House, is being routinely ignored by the people’s own representatives in Congress and state houses around the country. Fast to spend the people’s money bailing out the very institutions that brought us to a financial crisis, legislators refuse to turn their backs on the big money interests that paid for their holding office and pass legislation to help the people of this country out of their mess.
The Pentagon and Air Force are reviewing whether their officials may be partly to blame for a $328,835 photo-op of a jumbo jet used by the president soaring above New York City that has already forced the White House military director to step down.
Former Army Secretary Louis Caldera, the White House aide who authorized the flyover, resigned under fire Friday as the Obama administration tried to move past the embarrassing incident that sent panicked workers rushing into the streets amid flashbacks of Sept. 11.
Putting himself on the side of fuming consumers, President Barack Obama is pushing Congress to send him legislation by Memorial Day that would put a tighter rein on the credit card industry.
"Americans know that they have a responsibility to live within their means and pay what they owe," Obama said in his weekly radio and Internet address released Saturday. "But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all-too common."
The Federal Reserve could become the supercop for "too big to fail" companies capable of causing another financial meltdown under a proposal being seriously considered by the White House.
The Obama administration told industry officials on Friday that it was leaning toward making such a recommendation, according to officials who attended a private one-hour meeting between President Barack Obama’s economic advisers and representatives from about a dozen banks, hedge funds and other financial groups.
Sen. Kit Bond of Missouri, delivering the Republicans’ weekly radio and Internet address, said Saturday that President Barack Obama’s plan to close the Guantanamo detention center "is a dangerous case of putting symbolism over security."
Bond said the president needs to tell the American people where the terrorists held at Guantanamo Bay will be sent.