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- From the fiscal frying pan into the debt ceiling fire
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House Republicans are already trying to vote it away, but do they have the tools, or stomach, to do so?
Reacting to the Supreme Court's big decision to uphold almost all of the Patient Protection and Affordable Care Act (ACA) -- ObamaCare -- Republican presidential hopeful Mitt Romney stated the obvious: "If we want to get rid of ObamaCare, we're going to have to replace President Obama."
The GOP-controlled House will almost certainly vote (again) to "repeal" ObamaCare in July, and even if the Democratic-controlled Senate follows suit (it won't), Obama has the veto pen. But if Romney wins in November and Republicans take control of the Senate (and keep the House), could they really dismantle Obama's biggest domestic achievement -- and if so, would they? Here's a look at the possibilities and realities:
The presidential candidate's tax avoidance strategy may be immoral, but it's not illegal.
In addition, for the first time in 6 years, there are more active Republican voters than active Democrat voters.
By John McCormick
Independent voters are growing in numbers at the expense of Democrats in battleground states most likely to determine this year's presidential election, a Bloomberg News analysis shows.
The collective total of independents grew by about 443,000 in Colorado, Florida, Iowa, Nevada, New Hampshire and North Carolina since the 2008 election, according to data compiled by Bloomberg from state election officials.
During the same time, Democrats saw a net decline of about 480,000 in those six states, while Republicans, boosted in part by a competitive primary earlier this year, added roughly 38,000 voters in them, the analysis shows.
Underemployment also threatens economic expansion as educated young adults spend less on things like technology, entertainment and cars.
By Jeff Green and Carol Hymowitz
Michael Baum took every substitute teaching job he found and has sent out hundreds of resumes since graduating from college two years ago. He never got a full-time offer and works as a waiter at a pizza parlor in Chicago, earning $650 during a busy week.
"It's discouraging," said Baum, 25, who is certified to teach in Texas and North Carolina as well as his native Michigan. His pay is just enough to cover basic living expenses.
Baum has joined the growing number of underemployed graduates in the U.S., in an election year when both President Barack Obama and presumptive Republican challenger Mitt Romney are vying for young voters with promises to restore jobs. Underemployment isn't debilitating only for individuals whose career and income opportunities are stunted. It threatens the economic expansion as college-educated young adults have traditionally fueled consumer spending on clothes, technology, entertainment and cars.
For months there's been talk that the GOP candidate might choose a female running mate.
For months there's been intriguing talk that presumptive GOP presidential nominee Mitt Romney might pick a prominent woman as his running mate to help give his campaign a kick – and layer on some luster to a plain vanilla, hyper-cautious and meticulously run campaign.
Among the potential picks, four women, more than any others, have consistently been mentioned as possibilities in the Republican vice presidential sweepstakes:
The Las Vegas Sands head may be focused too much on the US presidential campaign and not enough on his gaming empire.
Republican criticism of the president's energy policies has faded as oil prices have fallen and stockpiles have ballooned.
By Mark Shenk and Paul Burkhardt
U.S. gasoline prices at the pump, headed to $4 a gallon in April, are dropping toward $3 as the July Fourth holiday approaches, giving consumers relief and a boost to President Barack Obama's re-election campaign.
Retail prices have fallen 15 percent to $3.329 from a peak of $3.936 on April 4, according to Heathrow, Florida-based AAA, the largest U.S. motoring group. They're also 6.6 percent lower than a year ago, underscoring how slowing economies are sapping demand even as an embargo on Iranian oil starts.
With Congress on break this week, the president will tour Ohio and Pennsylvania to shore up a still-vulnerable re-election bid.
By Mike Dorning
President Barack Obama heads to two states vital to his re-election, strengthened by a pair of victories in the Supreme Court and progress in solving Europe's sovereign debt crisis.
The court's decisions affirmed Obama's signature health care law and his administration's intervention to block an Arizona immigration law. Together, they confer legitimacy on the president's actions and signal competency to the public, said Kathleen Hall Jamieson, a professor at the University of Pennsylvania's Annenberg School for Communication in Philadelphia.
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Follow Republican and Democratic presidential candidates as they battle for the White House. Explore how monetary and fiscal policies affect your finances. Get insightful analysis of the American political economy and the latest news on the 2012 election.
Contributors include professional investors and journalists affiliated with MSN Money.
[BRIEFING.COM] The stock market continues to struggle to find direction. The major indices are mixed with the Nasdaq drawing its main sponsorship from Apple (AAPL 103.16, +0.66), which is trading right through reports its iCloud service was hacked.
Otherwise, today's prominent price action has been reserved for the commodity and Treasury markets, both of which have looked weak since the get go and neither of which have shown any effort to reverse the negative pricing tide ... More
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