- GOP offers 10-year, $2.2 trillion plan to Obama
- Fiscal cliff talks turn into a game of chicken
- From the fiscal frying pan into the debt ceiling fire
- Tax the rich more? Most Americans say yes
- Heartland states on high alert over fiscal cliff
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And Newt Gingrich calls him the weakest GOP front-runner since 1920.
By John McCormick and Hans Nichols, Bloomberg
Mitt Romney's Republican presidential rivals are boosting attacks ahead of Southern primaries this week that could start to winnow the field.
The heightened criticism precedes primary voting Tuesday in Alabama and Mississippi. The contests are important for Newt Gingrich as he tries to remain a viable candidate and for Rick Santorum as he works to prove he is building momentum after a weekend win in Kansas.
Why has the Obama administration decided to bail out the speculators in his latest iteration of a housing policy?
At the peak of the housing bubble, a number of reality shows appeared on cable television that featured real-estate speculators who bought distressed properties and made enough improvements to sell them quickly at a sharp profit.
Called “flipping,” the entertainment industry glamorized the quick-profit practice that helped fuel a spectacular rise in housing values – and made the crash worse than it otherwise might have been. Flipping has since become a reviled practice, a symptom of an irrational and irresponsible market, not to mention the negative political connotations of speculators in general as gas prices rise rapidly yet again.
The electric car symbolizes the bailout for Republican candidates and plays to issues like class and the environment.
Pity the Chevy Volt. Ever since it became known that the plug-in hybrid car's batteries had burst into flames after government crash tests, the car has become the whipping boy of Republican politicians.
Conservatives have equated GM's Volt with everything from government bailouts to radical left-wing environmentalism.
The strengthening economy is beginning to translate into greater public optimism.
By Mike Dorning, Bloomberg
A surge in new jobs last month that held the U.S. unemployment rate to 8.3 percent highlights a strengthening economy that bolsters President Barack Obama as he approaches re-election.
"If this continues, he'll have the edge -- not necessarily a huge edge but an edge," said Christopher Wlezien, a political science professor at Temple University in Philadelphia and co- author with Robert Erikson of the forthcoming book "The Timeline of Presidential Elections."
President Obama hit the campaign trail in Mount Holly, N.C. where he tried to bat away GOP complaints about his energy policies and responsibility for soaring gas prices.
"Hello, North Carolina!” President Obama called out Wednesday at a truck plant in Mount Holly, N.C. where he again tried to bat away GOP complaints about his energy policies and responsibility for soaring gas prices.
“If we are going to control our energy future, then we’ve got to have an all-of-the-above strategy,” Obama explained. ”We’ve got to develop every source of American energy -- not just oil and gas, but wind power and solar power, nuclear power, biofuels. We need to invest in the technology that will help us use less oil in our cars and our trucks, in our buildings, in our factories.
Plans to suppress public spending on pensions are questionable on their merits and, from a fiscal discipline point of view, are just so much wishful thinking.
The resolution of every economic crisis sows the seeds of the next.
Public pension systems in advanced and emerging economies alike were already under stress before the Great Recession. The past few years' destruction of wealth and the likelihood of slower growth in the future have weakened them further and will put some under intolerable pressure.
With the economy improving, Wall Street firms have money to support their preferred candidate.
By Dan Freed
Goldman Sachs (GS) donors to the 2012 presidential campaign overwhelmingly favored Republican frontrunner Mitt Romney over President Barack Obama in January, according to data from OpenSecrets.org the website of the Center for Responsive Politics.
Romney raised $25,250 from 15 donors at Goldman versus $1,500 from three donors for Obama, according to the nonprofit's website, which does not appear to have any data beyond Jan. 31.
Former Massachusetts Gov. Mitt Romney used Super Tuesday to issue a broadside against the Obama administration’s Iran policy.
Former Massachusetts Gov. Mitt Romney, whose narrow victory in Ohio late Tuesday night allowed him to cling to his frontrunner status in the race for the Republican nomination, used Super Tuesday to issue a broadside against the Obama administration’s Iran policy. In an op-ed in the Washington Post, Romney called the president’s approach to stopping the ayatollahs’ nuclear program “feckless” and vowed to teach the Iranians “the meaning of American resolve.”
Forget for a moment that foreign and military policy analysts immediately dismissed Romney’s specific proposals as nothing more than a rehash of Obama’s approach, which combines escalating economic sanctions and a show of military force in the Persian Gulf with demands that Iran return to negotiating table to bring its nuclear program within the International Atomic Energy Agency’s purview. Those efforts bore fruit yesterday when Iran agreed to talks that will include the U.S., Britain, France, Germany, Russia and China.
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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.
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[BRIEFING.COM] S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +23.00. The S&P 500 futures trade seven points above fair value.
Asian markets ended the day on a mostly higher note. Japan's weak preliminary Industrial Production report (-3.3% month-over-month versus expected -1.0%) prompted the Ministry of Economy, Trade, and Industry to lower its industrial assessment.
- In other data:
- South Korea's Industrial Production rose 2.9% ... More
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