A first-time small business owner continues his series about his experiences and lessons learned.
A young small business owner shares his triumphs and tribulations in setting out on his own.
The President should immediately sign the bipartisan highway and transit bill.
This week in Washington, the president turned the nation’s attention towards the upcoming elections when he used his State of the Union address to make the case for four more years.
Legislators returning to Washington this week were met with the administration’s decision to reject the Keystone XL Pipeline. Tom Donohue, the 10th most powerful man in Washington according to GQ, joined the chorus of voices critical of the move. The decision, which had the appearance of being politically motivated, represented yet another example of how the business of Washington has impeded on the business of America. The result, experts say, amounted to a missed opportunity for much needed job creation. This sentiment was captured in the Chamber’s Quarterly Small Business Outlook Survey, which found that the overwhelming majority of small businesses think the country’s economy is on the wrong track, blame Washington for their plight, and want Congress to get out of the way. This is The Week That Was…
The dangerous federal regulatory deamon popped its ugly head out again in Washington this week when the White House appointed Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) and installed three people to the National Labor Relations Board (NLRB).
Driving theDay
The Supreme Court yesterday announced it would devote three days from March 26 to 28 to hearing arguments in challenges to the 2010 health care overhaul law. A decision in the case is expected by the end of June.
by Bobby Maldonado
North Korean leader Kim Jong-il died of a heart attack while on a train trip, state media reported this morning, sparking immediate concern over who is in control of the reclusive state and its nuclear program. South Korea, s
The Chamber kept at it this week as Congress made a final legislative push before the year draws to a close. The National Labor Relations Board announced it was dropping its politically charged case against Boeing, but the damage was done after it seeded the feeling of uncertainty into the mind
The House passed a Republican bill to extend the payroll tax cut, extend unemployment benefits, and speed up a decision on the Keystone XL oil pipeline by a vote of 234-193. The bill now moves to the Senate, where Democrats want to change it. The White House has threatened to veto the House
by Bobby Maldonado
While Congress battled to a draw on Capitol Hill, the U.S. Chamber continued to advance its agenda with a series of events across the country and notable news columns. From an honest look at why Congress must pass rogue website legislation because "criminal operators of rogue
by Bobby Maldonado
The House Agriculture Committee will hold a hearing on MF Global, at which former CEO Jon Corzine will deliver prepared testimony. Corzine will say that he cannot explain what happened to “many hundreds of millions of dollars” that the firm was holding for customers and th
by Bobby Maldonado
House Republicans will not vote on a plan this week to extend jobless benefits and the payroll tax cut, setting up a one-week showdown next week to ensure the provisions are extended before the Christmas holiday. Parties a
by Bobby Maldonado
Standard & Poors is putting all 17 members of the euro zone currency bloc on “creditwatch negative,” implying that there is a 50/50 chance the ratings company will downgrade the countries’ sovereign debt rating in the nex
by Bobby Maldonado
In advance of Presidents Harper and Obama’s meeting on Wednesday to announce new initiatives and commitments to border security and trade, Canadian Chamber CEO Perrin Beatty and Tom Donohue had an op-ed appear in Canada’s
by Bobby Maldonado
This week in Washington, jobs continued to hold its rightful place on center stage. Tom Donohue appeared with Presidents Obama and Clinton to support the announcement of a $4 billion effort to create savings and jobs by increasing the energy efficiency of government and privat
Chamber President and CEO Tom Donohue will join former President Bill Clinton and President Obama to announce a $4 billion effort to increase the energy efficiency of government and private sector buildings, aiming for fuel savings and job creation at no cost to taxpayers. The proposal would
Following his speech at the Chamber yesterday, Ron Kirk told reporters that President Obama will ask Congress for Presidential trade negotiating authority for the ongoing Trans-Pacific Partnership negotiations from Congress in an “expedited manner.” He did not offer new specific trade initiativ
Despite some reluctance within the GOP, Republican leaders said yesterday that they would join Democrats in supporting an extension of the 2011 payroll-tax cut, however, Republicans are working on an alternate proposal that would pay for it. Senate Democrats plan to force a vote Friday on a me
The United States received a reminder of its debt woes yesterday. Fitch Ratings lowered the country’s ratings outlook to negative from stable, though it maintained its AAA grade for U.S. debt.
A report on the front page of The New York Times says, “Europe’s worsening sovereign debt crisis ha
Moody’s warned today that the rapid escalation of the euro zone sovereign and banking crisis threatens the credit standing of all European government bond ratings. Moody’s noted that “the political impetus to implement an effective resolution plan may only emerge after a series of shocks, whic
In perhaps the most important event of the day, President Obama pardons the National Thanksgiving Turkey at 10:30 a.m.
The National Retail Federation, the Food Marketing Institute, the National Association of Convenience Stores, and two retailers filed a lawsuit in federal court saying t
The deficit supercommittee has officially folded. In a statement released yesterday shortly after markets closed, co-chairs Jeb Hensarling and Patty Murray announced that they had “come to the conclusion today that it will not be possible to make any bipartisan agreement available to the publi
The supercommittee is expected to fold as soon as today. Members of the committee hit the Sunday shows blaming each other for the gridlocked panel. During the series of interviews, not a single committee member seemed optimistic about any last-minute breakthrough.
The N.L.R.B. on Frida
by Bobby Maldonado
This week began on a high note in Washington following economic talks at the Asian Pacific Economic Cooperation summit in Honolulu. The Chamber, led by Tom Donohue, was on the ground meeting with state leaders and business executives to help push for the Trans-Pacific Partners
A 21 year old man was charged yesterday with the attempted assassination of the president or his staff. He is accused of firing nine rounds at the White House last Friday night — one of them cracking a window of the first family’s living quarters — when President Obama and the first lady were
Following a 422-0 vote, the House passed and sent to President Obama legislation to repeal a requirement that federal, state and local governments begin withholding 3% of payments to contractors in 2013. President Obama has said he would sign the bill into law.
Energy Secretary Steven C
In an exclusive, The Los Angeles Times reports that the Chamber will air its first political ads of the 2012 election cycle today, a million-dollar-plus buy that includes attacks on two vulnerable Democratic senators, Sherrod Brown of Ohio and Jon Tester of Montana. The L.A. Times writes that
President Obama leaves Hawaii for Australia today where he will meet with Prime Minister Julia Gillard and deliver a speech to parliament in Canberra.
POLITICO reports that there’s increasing talk of punting some of the toughest issues to congressional committees. That could mean giving the
Rep. Jeb Hensarling (R-TX), co-chairman of the deficit-cutting supercommittee, said on CNN’s State of the Union yesterday that there is a possibility of pushing a tax-overhaul effort to next year. The approach could ease the path to an agreement, by allowing Congress to reach the outlines of a
by Bobby Maldonado
Tom Donohue this week continued America's stated goal of doubling exports over the next five years by traveling to Hawaii to attend the APEC Summit with world leaders. While there, he placed an Op-Ed in the The Honolulu Star Advertiser outlining an ambitious trade agenda
by Bobby Maldonado
The State Department announced yesterday that it ordered TransCanada to work with Nebraska officials to draw up a new pipeline route through that state that avoids the state’s sensitive Sandhills region. House Speaker John Boehner said in a statement, “More than 20,000 new Am
by Bobby Maldonado
Former European banker Lucas Papademos has been named prime minister and will lead Greece’s interim government.
Meanwhile in Italy, Prime Minister Silvio Berlusconi accelerated his efforts to position a hand-picked successor to lead his center-right party. Berlusconi h
Italian Prime Minister Silvio Berlusconi has offered to resign as soon as parliament passes cost-cutting steps pledged to EU allies. Parliament is due to vote on the measures in the coming weeks. The announcement leaves Italy struggling to produce a new regime stable enough to implement painf
Ten months into his tenure as chief of staff, White House Chief of Staff Bill Daley will hand off day-to-day responsibilities to presidential confidante Pete Rouse.
By a vote of 94-1, the Senate approved Majority Leader Reid’s motion to invoke cloture on a bill to repeal a rule requiring the
Sunday’s Honolulu Star Advertiser referred to the annual APEC CEO Summit as “a premier networking event for some of the world’s most powerful business people.” The report, which ran alongside a picture of Tom Donohue, goes on to say that “This year’s APEC summit is expected to build on the mom
by Bobby Maldonado
All eyes in Washington were on the deficit reduction supercommittee this week as they continued their closed door deliberations on how to tighten America’s bloated belt. The Chamber used some of its political might when it sent a coalition letter, signed by 200 associations,
by Bobby Maldonado
This week in Washington the Chamber started out strong with the boss appearing on ABC’s Sunday morning show This Week. Not stopping there, the Chamber’s National Chamber Litigation Center made headlines when it filed an amicus brief urging the Supreme Court to take up review o
by Bobby Maldonado
EPA Administrator Lisa Jackson said yesterday that her agency is about to weigh in on the State Department’s environmental analysis of the proposed Keystone XL pipeline. No firm date was given.
Energy Secretary Chu will testify before the House Energy and Commerce over
by Bobby Maldonado
European leaders agreed this morning on a Greek debt plan. Under the deal, the European Financial Stability Facility will be leveraged four or five times to around $1.4 trillion and Greece’s debt will be reduced to 120% of its GDP in 2020. Under current conditions, it would
The Obama administration said yesterday that it supports House bills that would repeal a 3% withholding requirement for government contractors and pay for it by altering the eligibility for Medicaid and other health programs. The Senate is the only hurdle left to the repeal effort. The House
President Obama remains out west, taping a Jay Leno appearance in L.A. before flying north to San Francisco where he will speak at a campaign event at 5:10 p.m. before heading to Denver tomorrow where he will announce a student loan initiative.
According to a new Wells Fargo/Gallup Small
Speaking on ABC’s “This Week” yesterday, Tom Donohue and AFL-CIO President Richard Trumka came together to promote infrastructure spending. A disagreement surfaced when Donohue said the Chamber opposes attaching a “Buy America” provision to such spending. Donohue said such a provision could h
by Bobby Maldonado
Very rarely is politics like baseball, where the outcome of a legislative battle, like a game, can be categorized in wins and losses. That said, this week the Chamber beat the odds and eked out a win when President Obama signed into law the three long-stalled FTAs with Panama,
In a tick tock story about how it came about, National Journal Magazine profiles the Chamber’s role in moving all three FTAs along this year. The story emphasized the crucial roles played by Tom Donohue, Bruce Josten, and Tami Overby in ensuring passage of the deals. Donohue was needed for hi
BREAKING NEWS: Reuters is reporting that according to National Transitional Council official’s, deposed Libyan leader Muammar Gaddafi has been killed. These reports have been unconfirmed.
The Washington Post reports that the debt supercommittee’s 12 members, according to aides and others, hav
Greek unions began a massive 48-hour general strike today, the biggest protest in years, as parliament prepared to vote on sweeping new austerity measures. Thousands of protesters have gathered outside parliament and groups of workers assembled at rallying points throughout the capital before
The Wall Street Journal reports that Tom Donohue told a group of reporters yesterday that U.S. policy makers should resist embracing protectionism and that an attempt to force China’s hand could have negative repercussions. Tom said, “Keeping them as a very positive force in the things we’re t
The Washington Post this morning reports on the opposing interests within the Obama White House over the Keystone XL pipeline. The report mentions the launch of the Chamber’s campaign Partnership to Fuel America to mobilize business owners, associations, and a network of state and local chambe
For the first time in a long time, politicians stopped talking about job creation and started to do something about it. That’s right, this week Congress passed the three pending free trade agreements (FTAs) giving companies the ability to compete abroad while starting to create hundreds of thou
President Lee Myung-bak visits the White House for a post-trade deal state visit and has a joint presser with President Obama before addressing Congress at 4:00 p.m. He will attend a state dinner tonight.
Chrysler and the United Auto Workers union have finally agreed on a new contract.
United against President Obama, Senate Republicans voted yesterday night to kill the jobs package. The plan died on a 50-49 tally that garnered a majority of the 100-member Senate but fell short of the 60 needed to keep it alive. The White House and Congress are already breaking the legislati
German Chancellor Angela Merkel and French President Nicolas Sarkozy said yesterday that they would finalize a “comprehensive response” to the debt crisis by the end of the month, including a plan to make sure European banks have adequate capital. The two declined to provide specifics on how t
September job numbers are out: Nonfarm payrolls added 103,000 jobs in September. The private sector in September added 137,000 jobs. The September unemployment rate remains at 9.1%. August nonfarm payrolls was revised up, adding 57,000 jobs from unchanged. July nonfarm payrolls was revised
Steve Jobs, the mastermind behind Apple’s iPhone, iPad, iPod, iMac and iTunes, has passed away. His passing is dominating headlines across the globe.
After some spirited debate over workers’ rights issues in Colombia, the three pending free trade deals cleared the House Ways and Mea
The Obama administration moved yesterday to complete free trade agreements with South Korea, Colombia, and Panama by sending the deals to Congress for approval. Congress now has 90 days to approve or reject, but not to modify, the agreements under the special rules that govern consideration of
President Obama could send the three pending trade pacts to Congress for approval early this week, setting the stage for final passage of the agreements in mid-October. John Murphy is quoted in reports saying, “The White House is clearly motivated to get a move on if at all possible because o
by Bobby Maldonado
In Washington this week, politically viable solutions to the country’s economic hardship seemed difficult to come by. Despite the headwinds, the Chamber remained out front pushing for action while promoting its sensible jobs plan, which includes increased trade, greater oil dr
In a significant and dramatic strike in the campaign against Al Qaeda, Anwar al-Awlaki, an American-born preacher depicted as a leading figure in Al Qaeda’s outpost in Yemen, was killed this morning in the north of the country. Defense Secretary Leon Panetta said in July that one of his top go
President Obama is back to work selling the American Jobs Act with a series of regional press interviews this morning designed to put pressure on Members to support the package.
Alan Simpson, co-chairman of the White House fiscal commission, told POLITICO that President Obama’s decision
President Obama is expected to give an education speech this afternoon at a high school in Washington D.C. He is expected to urge students to pursue an education after high school and tell them that in tough economic times, the country needs their ideas and passion.
According to a repor
Ending weeks of political brinkmanship, the Senate advanced stopgap spending legislation 79-12 yesterday to fund the government through Nov. 18, avoiding a partial government shutdown. The Senate also approved a short-term funding measure to keep the government operating until the House can co
by Bobby Maldonado
Tom Donohue’s op-ed appeared in The Wall Street Journal criticizing the administration’s jobs plan for focusing too much on government spending and temporary tax breaks and not enough on growth policies needed to grow the economy. Donohue wrote, “Rather than tinker around the
by Bobby Maldonado
President Obama’s calls for quick action on his jobs plan are aimed at pressuring Republicans, but he faces a more immediate hurdle in Senate Democrats who will delay a vote for at least a month. Senate Majority Reid said he won’t immediately take up the jobs plan because the
by Bobby Maldonado
President Obama is in North Carolina today to talk up the jobs plan with remarks beginning at 12:55 p.m.
Senate Majority Leader Harry Reid said yesterday that the path has been cleared for final Congressional action on the three FTAs along with renewal of expired TAA be
House Republicans are taking up a bill Thursday that would prohibit the NLRB from ordering any company to close plants or relocate workers.
It’s no longer speculation. Bank of America announced plans to cut $5 billion in annual costs by the end of 2013 and slash 30,000. It’s the largest
Joined by teachers, police officers, firefighters, construction workers, small business owners, and veterans, President Obama will make remarks in the Rose Garden today on the need for Congress to pass the American Jobs Act. He will announce that he will be sending the bill to Congress tonight
by Bobby Maldonado
The Chamber was all hands on deck this week driving home its core message: JOBS. The week began with the Chamber sending its six-point jobs plan to Congress and the White House. To help the plan gain traction, a coordinated effort in the media included an exclusive with the A
After introducing a $447 billion jobs plan last night, President Obama will pitch America directly. He will visit Virginia today in the kick-off to a months-long campaign to promote the package.
U.S. officials are investigating a possible al-Qaeda plot to detonate a vehicle-borne bomb i
Fed Chairman Ben Bernanke will deliver an economic outlook speech today in Minnesota at 1:30 p.m. Don’t expect him to outline any bold new measures.
Although a bit of an early time due to the kickoff of the 2011 NFL season, President Obama will deliver his jobs speech before Congress at
President Obama is expected to propose $300 billion in tax cuts and federal spending tomorrow night. Two of the biggest measures for 2012 are expected to be a one-year extension of a payroll tax cut for workers and an extension of expiring jobless benefits. The White House is also considering
In an exclusive, the Associated Press reported that the Chamber yesterday issued an open letter to Congress and to the White House calling for a series of measures designed to generate jobs, including greater oil drilling, quicker road and bridge construction and temporary corporate tax breaks.
by Bobby Maldonado
Summer goes out with a bang at the Chamber, as we launched toward Labor Day with our annual press briefing, carried on with the Hiring Our Heroes initiative, and joined the President in the Rose Garden to talk infrastructure.
There were roughly a dozen reports resulting
August non-farm payrolls were unchanged in the month of August and the unemployment rate remained at 9.1%. July non-farm payrolls were revised down 32,000 to 85,000. Private sector jobs rose 17,000 in August vs. a rise of 156,000 in July.
The Federal Housing Finance Agency will file lawsuit
There were roughly a dozen reports out this morning covering the Chamber’s annual Labor Day briefing. FoxNews.com quotes Tom Donohue who said, “There is no magic wand to wave here. If you’re looking for a miracle, go to church. If you’re looking for practical ideas, then start these things r
Signaling the start of his Labor Day push for job-creating measures, President Obama today plans on asking Congress to pass a new highway bill during a 10:35 a.m. event with Chamber COO David Chavern, Secretary of Transportation Ray LaHood, and AFL-CIO President Richard Trumka. President Obama
POLITICO reports that “Hurricane Irene is forcing Washington to contemplate two unpalatable options for disaster aid: Add to the deficit or slash other programs to pay for it. Battle lines are already being drawn as Republicans insist that disaster money should be offset, Democrats contend tha
Hurricane Irene led to the deaths of more than 20 people in eight states. Damage appears to be less than feared, a bit of reassuring news for the fragile economy. According to preliminary estimates, damage ranges between $7 billion and $20 billion. If accurate, Irene would be among the 10 co
by Bobby Maldonado
As Washington shakes off an earthquake and as it stares Hurricane Irene in the eye, the Chamber maintains focus on advocating for its members. In a Letter to the Editor, Chamber SVP of Communications, Tom Collamore, set the record straight for The New York Times, arguing that
Hurricane Irene could slice a dangerous inland path, possibly racking up several billions of dollars in insurance losses as its winds and rain pound the heavily populated eastern seaboard. The main thrust of Hurricane Irene isn't expected in North Carolina until sometime Saturday. It will the
The Washington Post reports this morning that the State Department will remove a major roadblock to construction of a massive oil pipeline stretching from Canada to Texas when it releases its final environmental assessment of the project as soon as Friday. The department will have to conduct o
A 5.8-magnitude earthquake struck Mineral, Virginia, 87 miles outside of Washington, D.C. yesterday. Shaking could be felt from Toronto to New York and all the way to North Carolina. The quake lasted 45 seconds, and is one of the largest ever to hit the East Coast. The Chamber was immediatel
The Obama administration will release final plans today for ending or cutting back hundreds of regulations, in an effort to counter criticism that the White House is tone-deaf to business concerns. The administration estimates that about a dozen of the changes will save businesses some $10 bill
Photo Courtesy of Al-Jazeera
by Bobby Maldonado
In what could result in validation for the administration and NATO strategy, last night Libyan rebel forces pushed into Tripoli without meeting much resistance, hours after they overran a major military base that defended the capital. Rebel le
by Bobby Maldonado
In a letter from Executive Vice President of Government Affairs Bruce Josten to the deficit supercommittee, the Chamber urged them to reform entitlements and overhaul the tax code to rein in spending, reduce the deficit, and stabilize America’s level of debt. Reuters cited
The Chamber’s Peter Rashish had a trade Op-Ed appear in this morning’s European edition of The Wall Street Journal. Peter wrote that the United States and the EU risk overlooking the role that trade policy can play to inject vitality into their economies. Specifically, he writes, “there is a
During his bus tour in Illinois, President Obama previewed his new economic plan. Though offering no new details, he told a crowd that it will be ‘very specific’ and won’t just recycle old ideas. His plan, he said, would be part of an effort to revive the bipartisan $4 trillion ‘grand bargain
President Obama will make a major address on jobs and the economy after Labor Day. Although a venue hasn’t been set, the Associated Press reports that the plan is likely to contain fresh proposals on tax cuts, jobs-boosting infrastructure ideas, and steps that would specifically help the long-
Continuing his bus tour, President Obama will make a pit stop in Peosta, Iowa, where he’ll host a rural economic forum today.
President Obama will propose a rural development initiative to help rural small businesses with access to $350 million in investment capital over the next five years.
The president is set to launch a three-day bus tour of the Midwest, a trip that includes two stops in Iowa. The White House denied that the itinerary is politically motivated. On the first leg of the tour, President Obama speaks in Cannon Falls, Minnesota and Decorah, Iowa. According to the
by Bobby Maldonado
While Congress back in their home districts, the Chamber continued its active pursuit of a long-term solution to improving the nation’s fiscal standing while staying true to its principle that jobs and economic growth should be placed at the top of the nation’s agenda. To get
by Bobby Maldonado
The Chamber applied pressure on both sides of the aisle this week to find compromise on legislation that puts our nation’s finances on sounder footing and ensures the full faith and credit of the United States. The Chamber warned that failure to do so could push the economy ba
A day after the Dow plunged 513 points, its worst percentage decline in more than two years, global markets fell overnight. London, Germany, and France had massive declines but have since recovered slightly. Asian stock markets closed sharply lower.
Back in the states, markets may get a bo
After three weeks of staff discussions, Senate Majority Leader Harry Reid and Republican Leader Mitch McConnell last night issued a joint statement indicating they have agreed on a legislative path for consideration and approval in September of the pending FTAs as well as the bipartisan Trade Adj
USA Today reports that now that the debt deal is done, everyone’s attention turns to jobs. “Tops on the president’s list: another year of payroll tax cuts for workers and, possibly, their employers; an extension of unemployment insurance benefits; passage of free trade agreements with South Ko
The bill raising the debt limit was passed in the House last night 269-161. Republican lawmakers supported the compromise 174-66, while Democrats split 95-95. The rare moment of cooperation turned celebratory when Representative Gabrielle Giffords strode in for the first time since she was shot
President Obama and congressional leaders announced a historic agreement last night to avert default. The agreement would slice at least $2.4 trillion from federal spending over a decade. The Treasury’s authority to borrow would be extended beyond the 2012 elections, a key objective for Obama, th
by Bobby Maldonado
The eyes of the world were on Washington this week as a divided government walked the U.S. economy ever closer to the edge of the cliff. For its part, the Chamber met with and told anyone that would listen that Congress must raise the debt limit or face serious economic conseq
Republican leaders in the House announced last night that there will be no immediate vote on the debt ceiling, an indication that Speaker Boehner remains short of the votes needed to pass the legislation. There was no indication of whether a vote might still come today. Republican leadership had
After retooling the bill and getting a higher savings score from the CBO, there is growing confidence that Speaker Boehner will move ahead today with a vote on his debt plan. The CBO said Boehner’s revised plan would cut spending by $915 billion, compared with $850 billion for his original plan.
by Bobby Maldonado
The CBO released figures last night showing that House Speaker Boehner’s debt plan would fall short of the savings expected. The Speaker’s spokesman said that Boehner’s staff is “looking to rewrite the legislation.” The spokesman continued: “As we speak, Congressional staff
On Friday, debt talks collapsed. President Obama and Speaker Boehner each held press conferences to make sure their side of the story got out. Boehner claimed the president moved the goal post by asking for an additional $400 billion in tax revenue and President Obama claimed that Boehner was av
by Bobby Maldonado
It seemed like all eyes in Washington were on the ongoing debt negotiations this week. The Chamber was out front on behalf of the business community emphasizing that "Default is not an option." Meanwhile, other issues continued to evolve and the Chamber was fully engaged. In
The status of the debt deal negotiations seem to change by the hour. The New York Times reported yesterday afternoon that President Obama and Speaker Boehner were close to a major deal on the U.S. debt ceiling. However, both sides quickly denied the report, with Boehner tweeting that it was “fal
Yesterday, President Obama shifted and said he would back a short-term deal to prevent default but only if a larger and still elusive deficit-cutting agreement was essentially in place. The problem is, nothing seems to be in place. Progress remains elusive as the government slides toward a defau
The Gang of Six, joined once again by Republican Senator Tom Coburn, made a new push yesterday to win backing for an ambitious $3.7 trillion deficit-reduction proposal that includes new revenues and deep spending cuts. Forty-seven senators, including 23 Republicans, turned out for a briefing b
House Republicans today plan to defy President Obama’s promised veto by voting to slash spending and condition a $2.4 trillion debt-ceiling increase on passage of a constitutional amendment to balance the budget. The bill stands little chance of being endorsed by the Democratic-controlled Senate
Reigniting a partisan fight over banking regulations, President Obama intends to nominate former Ohio Attorney General Richard Cordray to lead the consumer protection bureau. Obama plans to announce the nomination today. Republicans immediately threatened to block the confirmation. The agency w
by Bobby Maldonado
The Chamber started the week out with coast-to-coast events discussing its number one issue, JOBS. On Sunday the Chamber staged a Hiring Our Heroes fair in Los Angeles that connected 1,500 veterans and their spouses with more than 150 employers from across the state. Oh yeah,
President Obama suspended budget negotiations for the day to give congressional leaders a chance to meet with their members and come up with a “plan of action” on how to unblock debt talks. The president said he might summon the leaders to the White House over the weekend if there was no progress
President Obama abruptly walked out of yesterday’s debt-limit meeting with congressional leaders, throwing into serious doubt the already shaky debt limit negotiations. House Majority Leader Eric Cantor said the president became “agitated” and warned him not to “call my bluff” when Cantor said he
President Obama made no apparent headway yesterday in his attempt to forge a crisis-averting budget deal, but at a news conference, he put on full display his effort to position himself as a pragmatic centrist willing to confront both parties and address intractable problems. He said that he was
The Wall Street Journal reports that a Chamber survey, conducted by Harris Interactive and set to be released today at the second annual Jobs Summit, shows that 64% of small-business executives say they are not expecting to add to their payrolls in the next year and another 12% plan to cut jobs
by Bobby Maldonado
Today President Obama meets with House Minority Leader Nancy Pelosi, who didn’t hide her displeasure with the notion that Medicare and Social Security savings could go to debt reduction. Looking forward, White House Budget talks will resume Sunday, by which point, President Obam
by Bobby Maldonado
The big White House budget summit begins at 11:00 a.m. and will dominate the day. President Obama reportedly wants to move well beyond the $2 trillion in savings sought in earlier negotiations and seek perhaps twice as much over the next decade. The effort follows an overture fr
by Bobby Maldonado
President Obama will take part in the first-of-its-kind “Twitter Town Hall” at 2:00 p.m. in the East Room. The event will include Twitter co-founder and Executive Chairman Jack Dorsey asking the questions. Twitter will summarize President Obama’s verbal answers, so it’s not as i
by Bobby Maldonado
The debt ceiling debate picks up again following comments made from Senators John McCain and John Cornyn that Republicans might be open to some form of revenue raisers (i.e. tax hikes). Cornyn also indicated he might support a “mini-deal” that raises the debt ceiling and puts of
by Bobby Maldonado
President Obama and VP Biden will host the House Democratic leadership at the White House this morning to talk about debt limit negotiations which have either gone nowhere or made progress depending who you talk to. Meanwhile, there are reports that the talks grew more contentio
by Bobby Maldonado
Federal Reserve Chair Ben Bernanke will hold his second presser at 2 p.m. today following the central bank’s post-meeting statement and economic forecast. The statement will likely confirm that the second round of quantitative easing is over and that a third round won’t happen.
by Bobby Maldonado
The Senate Commerce Committee will hold a confirmation hearing this afternoon for John Bryson as Commerce Secretary and Terry Garcia as deputy secretary. Bryson is likely to face some heat from the right over his environmental stance. Both nominees will likely get blocked until
The VP Biden-led group of congressional negotiators will continue to negotiate on a debit limit/deficit reduction deal this week a day after Senate Minority Leader Mitch McConnell said on CBS’ “Face the Nation” that if congressional negotiators and the White House don’t work out a deal this summer,
by Bobby Maldonado
This week the Chamber moved the ball forward on the three pending trade agreements by unveiling a new export website, continued its push for the renewal and updating of the No Child Left Behind law, and cautioned against a dangerously expensive illegal immigration crackdown th
by Bobby Maldonado
Concerns over the volatile situation in Greece, coupled with another round of dismal economic data, sent the major market averages tumbling to the lowest level since March. The Dow tumbled 178 points to 11,897 and the NASDAQ dipped 47 points to 2,631. Look for Greece to keep dr
by Bobby Maldonado
Representative Jim Sensenbrenner of Wisconsin said he planned to introduce a bill to curb the Foreign Corrupt Practices Act, citing complaints by the Chamber and others that the world’s oldest foreign bribery law leaves too much to the discretion of federal prosecutors. A Wa
by Bobby Maldonado
White House budget talks return today to where they began six months ago. Even after concessions by President Obama, the two sides remain more than $1.1 trillion apart over the next 10 years. Meanwhile, barring a last-minute settlement, lawyers for the NLRB will begin arguing b
by Bobby Maldonado
President Obama will visit a clean-energy plant today in North Carolina, a likely battleground state in his 2012 re-election bid, where he will consult with his Jobs Council, headed by GE CEO Jeffrey Immelt. The president will deliver remarks and discuss initiatives and policies
from MidEast
by Bobby Maldonado
The Chamber’s U.S. Egypt Business Council is leading a number of blue chip companies to Cairo this week to explore opportunities for the business sector to support the growth of democracy. Lionel Johnson, VP for Middle East Affairs, took some time out from meetings with governmen
by Bobby Maldonado
It is state visit day at the White House for Chancellor Angela Merkel with the Greek crisis and the leadership succession at the IMF high on the agenda. President Obama and Merkel hold a presser at 11:35 a.m. with the state of the U.S. economy likely Topic A. Meanwhile, the Cha
by Bobby Maldonado
Goldman Sachs plans to accuse a Senate subcommittee of drastically overstating its bets against the housing market in 2007 and may release documents about its mortgage bets that are aimed at showing what Goldman officials claim is sloppy math and incomplete analysis by the Senate
On a short week in Washington, and across America, the Chamber took timeout to honor those who made the greatest sacrifice for our country. On Memorial Day weekend, Kevin Schmiegel, the Chamber’s vice president of Veterans Programs, joined General James Jones (ret.) wrote in a USAToday Op-Ed ab
by Bobby Maldonado
May’s employment report and President Obama’s visit to a Chrysler plant in Toledo, Ohio will drive the day. All signs suggest the jobs number will come in soft, perhaps 150,000 or less, with the unemployment rate ticking down to 8.9%.
Over in the Motor City, Italian automaker F
by Bobby Maldonado
The House overwhelmingly rejected a measure yesterday (318 to 97) to increase the government’s debt limit. The vote showed the lack of support in the House for raising the $14.3 trillion debt ceiling without concrete steps to rein in chronic budget deficits. No Republicans vote
by Bobby Maldonado
The House is back in session today and is expected to overwhelmingly reject a bill to hike the $14.3 trillion debt limit with no attached spending cuts. The symbolic vote sets up the meeting between the House Republican Conference and President Obama at the White House on Wednesd
The Chamber was right in the middle of the issues that dominated the week in Washington, urging for measures to protect the credit rating of the United States, promoting business reforms in the turbulent Middle East, and warning against “misguided” policies that could result in higher energy price
by Bobby Maldonado
President Obama will give a major speech at the State Department this morning on his Middle East policy, focusing on providing economic aid to countries including Egypt at the heart of the “Arab Spring.” The announcement comes as the president prepares to travel to Europe next w
by Bobby Maldonado
The Senate’s Gang of Six just turned into a party of five. Republican Senator Tom Coburn pulled out of the bipartisan deficit reduction talks and predicted no meaningful deal can be reached until Democrats accept a greater share of savings from government benefit programs. Repub
by Bobby Maldonado
Reflecting the political difficulty of advancing FTAs in the face of high unemployment and Democratic opposition, the Obama administration said yesterday that it would not seek Congressional approval for deals with Colombia, Panama, and South Korea until Republicans agree to expa
by Bobby Maldonado
The Middle East will drive much of the news this week. On Tuesday, the President will meet with His Majesty King Abdullah II of Jordan at the White House and will host a White House reception in honor of Jewish American Heritage Month. On Thursday at the State Department, the P
by Bobby Maldonado
As Congress heads for next week's recess, the Chamber found itself at the center of various ongoing debates. The Chamber hosted South Carolina Governor Nikki Haley and the state’s attorney general along with several members of Congress for a press conference concerning the NLR
by Bobby Maldonado
A growing number of House Republicans are expressing doubt about the need to raise the federal debt ceiling by Aug. 2, as the Treasury Department insists is necessary, sharply raising the political and economic stakes. With Gallup reporting that Americans are more likely to oppos
by Bobby Maldonado
Courtesy of Reuters
As the U.S. is expected to reach its statutory debt limit on Monday, a group of the largest business trade associations and lobby groups, including the Chamber, sent a letter to Capitol Hill leaders saying it was critically important for the U.S. to stand
by Bobby Maldonado
The debate over the debt ceiling continues to rage with the White House’s Jay Carney accusing Speaker Boehner of holding the debt limit vote “hostage.” Vice President Biden indicated yesterday that his working group is not likely to be able to seal a debt ceiling deal, a further
by Bobby Maldonado
Delivering a speech on fiscal austerity yesterday to a Wall Street crowd clamoring for compromise on the debt limit, Speaker John Boehner defined the GOP’s terms for raising the legal limit on government borrowing, saying he would agree to raise the nation’s debt ceiling by about
by Bobby Maldonado
Senator Lamar Alexander brought along 10 GOP colleagues to help Democrats defeat Republicans (63-33 vote) who tried to filibuster the nomination of Jack McConnell to district court. McConnell was later confirmed in a 50-44 vote. The Chamber’s “unprecedented objection” appeared
by Bobby Maldonado
POLITICO just reported that “The Obama administration is quietly gearing up for a high-profile launch in May or June on what may turn out to be the most heavily lobbied issue of the year: corporate tax reform.”
Treasury Secretary Tim Geithner plans to unveil a white paper that a
by Bobby Maldonado
A vote could come as early as tomorrow on the controversial nomination of John J. McConnell Jr. to an opening on the U.S. District Court for Rhode Island. Senate Majority Leader Reid filed a cloture petition last night and called in a speech for a full Senate vote to confirm McC
by Bobby Maldonado
Photo Courtesy of Reuters
We got him. In a dramatic address to the nation, President Obama announced late last night that Osama bin Laden has been killed in a firefight with U.S. forces in Pakistan. President Obama declared that “justice has been done” as he disclosed that
While Congress was in recess, the Chamber spent the week continuing its promotion and defense of business interests. AT&T, with the help of the National Chamber Litigation Center, won a major Supreme Court case. Meanwhile, Bruce Josten criticized plans that would silence private-sector oppon
In the south, the nation’s deadliest tornado outbreak in almost four decades killed almost 300 people across six states — more than two-thirds of them in Alabama. The number of victims continues to rise. President Obama travels to Alabama to view storm devastation with Governor Robert Bentley be
Storms unleashed 137 reported tornadoes across the South, killing at least 194 people as they wiped out homes and businesses. At least 128 people were killed in Alabama alone.
Meanwhile, in economic news, a Federal Reserve statement and Ben Bernanke press conference went pretty much as expected
So I just saw Chamber president and CEO Tom Donohue kick off the Chamber's 10th Annual Aviation Summit. Tom began his remarks by underscoring the importance of a safe, secure, and efficient aviation system to the U.S. economy. With commercial aviation accounting for $1.3 trillion in economic act
The Federal Reserve will outline its latest policies on interest rates and the economy today. The Fed is expected to say that its benchmark rate will remain near zero and that its $600 billion Treasury bond-buying program will end in June as planned. Later in the day, Fed Chief Ben Bernanke will
The Supreme Court refused yesterday to speed up a ruling on President Obama’s healthcare overhaul. The justices rejected Virginia’s request to invoke a rarely used procedure to bypass the normal appeals process and move quickly to a Supreme Court decision on the law’s constitutionality.
The de
by Bobby Maldonado
It was a quiet week in Washington but that didn't mean work wasn't going on behind the scenes. Tom Donohue returned from a trip to Japan to lend the support of the U.S. business community to reconstruction efforts and the administration circulated a draft Executive Order to fo
by Bobby Maldonado
Japan’s prime minister says the country plans to build as many as 100,000 temporary homes to house the survivors of the earthquake and tsunami. About 135,000 people are living in 2,500 shelters set up in schools and community centers. Meanwhile, earlier today, the Japanese pri
House Majority Leader Eric Cantor issued a statement yesterday saying that Republicans “will not grant their request for a debt limit increase” without “serious reforms that immediately reduce federal spending and end the culture of debt.” It was the first time that a Republican leader suggested
In a move to blunt the impact of Citizens United, the White House is circulating a draft executive order that would require companies seeking government contracts to disclose contributions to groups airing political ads attacking or supporting candidates. A POLITICO report notes that administrati
The administration is now ready to move forward on a third trade agreement. U.S. Trade Representative Kirk announced the administration has completed work on the Panama FTA and wrote to members of the Ways and Means yesterday that he’s, “Ready to begin technical discussions … on the draft impleme
This weekend, Secretary Clinton and senior Japanese leaders announced the launch of a public-private business partnership to support Japan’s reconstruction. Dozens of news outlets - including today’s Wall Street Journal and Washington Post - highlighted Tom Donohue’s presence in Tokyo to join the
In a warning shot to the Republican House leadership from its right flank, fifty-nine Republicans — nearly a quarter of the new majority — rejected the 2011 spending bill personally negotiated by Boehner. Though the bill easily passed the House 260 to 167, it is important to note that 27 of the 5
House Republican leaders are seeking to contain growing conservative opposition to the new 2011 spending deal ahead of a vote today. Upon closer inspection, according to a CBO report, the bill would produce only $350 million in tangible savings this year. The measure is expected to win House app
With a short term budget behind him, President Obama plans to deliver a major speech on Wednesday to lay out a more aggressive path for deficit reduction -- including higher taxes on the wealthy and reform of entitlements, particularly Medicare and Medicaid. Republicans are signaling that they wi
Facing a midnight deadline tonight, the White House and Republicans have substantially narrowed their differences on spending but still fear a shutdown because of a serious divide over anti-abortion policy riders demanded by House conservatives. Both President Obama and Speaker Boehner cancelled
All the major newspapers and wires made mention of the Chamber’s involvement in bringing about a U.S.-Colombia FTA. The Wall Street Journal picked up Tom Donohue’s statement in which he pledged to work with the White House and Congress to secure passage of the trade agreements. “This proves the
Congressional leaders arrived at the White House at 10:15 a.m. to talk about the FY2011 budget with President Obama and Vice President Biden, however, GOP officials said they didn’t expect much from the session. Also at noon today, House Budget Committee Chairman Paul Ryan officially unveils his
Appearing on “Fox News Sunday,” Representative Paul Ryan opened up a new front in the budget wars. He said that House Republicans are planning to propose a reduction in excess of $4 trillion over the next decade by reshaping popular programs like Medicare. The plan, expected to be released tomor
Tom Donohue appeared on CNBC’s Squawk Box this morning ahead of CCMC’s 5th Annual Capital Markets Summit, Donohue argued that regulations should be considered more carefully and not rushed. He highlighted the importance of U.S. global competitiveness and dangers posed by some of the rules curren
Late last night, NATO agreed to take over part of the military operations against Libya, which includes enforcement of the no-fly zone. The toughest and most controversial portion of the operation — attacks on the ground — will continue to be led by the U.S., which has been anxious to give up the
Portugal’s prime minister offered his resignation yesterday after parliament rejected his government’s latest austerity measures. The events threaten to push already-high government borrowing costs to unaffordable levels and force Lisbon to seek a bailout. The result may shift attention to Spain
USAToday’s Susan Page writes that President Obama “returns to the White House ... after a six-day trip ... that was intended to focus on jobs, trade and the economy - but the world just wouldn’t cooperate. A partial nuclear meltdown in Japan, a U.S. military operation in Libya, a looming budget s
International news continues to demand the headlines. Will American control of military operations be extended? President Obama says no but as NATO members met in Brussels yesterday, there seemed to be confusion about who exactly would carry out the operation once the United States pulled back.
For the first time since World War II, Americans are in hot conflicts in three different places. American and European forces continued their barrage of Colonel Muammar el-Qaddafi’s forces by air and sea yesterday, a day after a barrage of American cruise missiles damaged Libyan air defenses.
Just as Colonel Qaddafi’s troops advanced to within 60 miles of the rebel capital of Benghazi, the UN Security Council voted yesterday 10 to 0 with 5 abstentions to authorize military action, including airstrikes against Libyan tanks, heavy artillery, and a no-fly zone. French officials say th
Helicopters and water cannons dumped loads of seawater onto the nuclear complex today to try to cool overheated uranium fuel on the verge of spewing out more radiation. Plant operators are also said to be finishing a new power line that could restore cooling systems and ease the crisis. Meanw
Japan’s nuclear crisis worsened today after authorities announced that a second reactor at the troubled plant may have ruptured and appears to be releasing radioactive steam.
Asian financial markets rallied today with Tokyo stocks rebounding 5.7% after a steep two-day sell-off ... Other
Japan faces a potential catastrophe today after a nuclear power plant exploded, damaging the vessel containing the nuclear core, and sending radioactivity “directly” into the atmosphere. Fortunately, winds are sweeping most of the plume out into the Pacific, rather than over populated areas. In
A devastating tsunami hit the coast of northeast Japan after an 8.9 magnitude earthquake, sweeping away houses and cars and pushing ships aground. At least 40 people are dead already and many more have been injured. Those numbers will rise. The earthquake triggered widespread power blackouts, a
President Obama will nominate Commerce Secretary Locke as U.S. Ambassador to China. President Obama will likely make the announcement today but it is unclear who or when he will name a new Commerce Secretary. The Wall Street Journal writes, “Mr. Locke’s departure ... gives the White House an opp
The Wall Street Journal is reporting that Wisconsin Democratic senators who fled the state said yesterday that they plan to return soon, though no date has been given. Even though their return will allow the controversial bill to pass, they are betting that the curbs are so unpopular they’ll tain
As Vice President Biden met with Congressional leaders to compromise on a budget, the White House said yesterday that it is willing to make additional spending cuts. Gene Sperling, head of the White House’s National Economic Council, said that the White House was willing to cut about $6.5 billion
The Senate approved a budget stopgap measure 91-9 to keep the government open through March 18. President Obama signed the measure yesterday afternoon. President Obama then intervened in the partisan brawl that threatens to shut down the government. The president invited congressional leaders o
The House passed emergency short-term legislation 335-91 yesterday to cut federal spending by $4 billion and avert a government shutdown. Democrats split, 104 in favor and 85 against. Republicans voted 231-6 in favor. Senate Democrats agreed to follow suit and will hold a vote this morning. Se
Last night the White House pushed to extend the length of a stopgap budget bill to a full month to allow more time for the administration to engage in House-Senate talks. The White House’s move triggered a meeting last night between Speaker Boehner and Senate Majority Leader Reid. Not much infor
The current budget expires Friday. Threats of a government shutdown next week all but disappeared late last week as Democrats reacted favorably to a Republican plan to keep agencies operating past March 4. The two-week peace is only temporary but gives House and Senate leaders through March 18 t
Budget negotiations on Capitol Hill are still in flux and a number of proposals look to be possible. Senate Democrats began drafting a plan yesterday to cut billions from the budget over the next seven months, yielding to Republican demands. For now, it is unknown how much they will cut. Meanwh
President Obama will host the first official meeting of his new Council on Jobs and Competitiveness today at 1:45 p.m. USA Today reports that President Obama “will challenge business and labor leaders today to generate ideas for creating jobs, sustaining the economic recovery and making America m
Majority Leader Harry Reid announced that he will bring legislation to the floor next week to keep the government running at current spending levels for 30 days to avoid a shutdown in March. It was immediately rejected by GOP leaders who say they will not pass a continuing resolution, at existing
Enraging hundreds of thousands who had gathered with expectations that he was stepping down, the Egyptian president said yesterday that he would delegate authority to his vice president but that he would not resign. Instead, he made it clear that he was still president, political reforms would co
In an afternoon speech at Northern Michigan University, President Obama will unveil an $18 billion plan to bring wireless high-speed Internet access to all Americans, a goal the administration says is key to the country’s ability to compete globally. To pay for the plan, the administration hopes
Give or take a few, there were roughly 100 press reports on President Obama’s visit to the Chamber. All the national papers, blogs, and wires reported on the event, in addition to a number of regional papers. The Chamber was also very active on the broadcast front. The speech appeared live on C
The Obama administration and Egyptian officials are now said to be discussing many proposals, including one in which the president would resign immediately and turn over power to a transitional government led by his vice president, and backed by the Egyptian armed forces. The proposal calls for t
Chaos and violence took control in the streets of Egypt as anti-government protesters were assaulted yesterday by supporters of the president. The clashes marked a dangerous new phase in Egypt's upheaval. Just before dawn this morning, heavy gunfire coming from government supporters rained into
The State Department announced that beginning today, charter flights will begin ferrying thousands of Americans out of the country. Media reports suggest that the Obama administration has been walking a fine line, balancing its alliance with the Egyptian president, the staunchest American ally in
by Bobby MaldonadoThe Financial Crisis Inquiry Commission report was released at a 10 a.m. today. The commission's majority placed blame for the crisis on almost everybody. The commission's dissenting opinion said: “The majority’s approach to explaining the crisis ... is too broad. Not everything
by Bobby MaldonadoPresident Obama embraced much of the business community’s agenda last night, calling for progress on stalled trade pacts, investments in roads and education, reworking the corporate tax code, and freezing discretionary spending for five years to cut the deficit. BusinessWeek write
by Bobby Maldonado
People familiar with the State of the Union speech say President Obama will position himself at the center of the political spectrum, call for national unity, and argue that the country must make targeted investments to foster job growth and boost U.S. competitiveness. His call f
by Bobby Maldonado
The White House will announce the creation of a new economic advisory council today, one that will be headed by GE CEO Jeffrey Immelt. The President’s Council on Jobs and Competitiveness, according to the White House, “will focus on finding new ways to promote growth by investing
by Bobby Maldonado
President Obama’s meetings today include one with a small bipartisan group of mayors to discuss jobs and the economy. Later tonight, the president will deliver remarks at the Kennedy Center on the 50th anniversary of JFK’s inauguration as president. The House Ways and Means comm
by Bobby Maldonado
In addition to substantial TV and radio exposure, roughly 50 reports on the State of American Business appeared online and in national and regional print publications. The Washington Post, The Wall Street Journal, The Los Angeles Times, and The New York Times all wrote on the eve
by Bobby Maldonado
In light of this weekend's tragedy, Eric Cantor announced that all scheduled legislation in the House this week, including Wednesday’s health care repeal vote, will be postponed. President Obama has ordered flags to be flown at half-staff and called for a national moment of silen
by Bobby Maldonado
There were a slew of votes taken yesterday which included food saftey and the budget. In a 67-28 vote, enough votes to assure final ratification, the Senate also passed a procedural hurdle yesterday to end debate on the arms treaty. Opponents have yet to concede the battle but i
by Bobby Maldonado
The $250 billion deal to pay for the government until March is expected to come to the Senate floor for a vote today while the FCC is expected to approve new rules that will allow wireless Internet providers to limit access to high-volume sites and applications. The vote is the c
by Bobby Maldonado
It has been a busy couple of days up on the Hill which have included another vote on the DREAM Act, the repeal of "don't ask don't tell", passage of food safety legislation, and negotiations on a pending arms treaty. On Saturday, President Obama also signed a continuing resolutio
by Bobby Maldonado
The Senate approved the $858 billion tax plan yesterday 81 to 19, and House Democrats say they expect to pass the bill today. A House amendment that would change a provision that benefits wealthy estates is largely symbolic and is expected to fail. The Washington Post quotes Bru
A Wall Street Journal op-ed today highlights the global jobs competition, and cites a new McKinsey report on corporate leaders who say the U.S. business environment is losing its edge against dozens of other countries—and not just fast-growing economies such as Brazil, Russia, India and China. All
The House Agriculture Committee bill to end the U.S. ban on travel and trade to Cuba is expected to clear committee and be sent to the full House. A report written by Reuters and picked up by The New York Times quotes the Chamber's Bruce Josten saying, “Enabling Americans to travel to Cuba and expa
Columnist Bob Herbert of The New York Times writes:“Mr. Obama and the Democrats have wasted the once-in-a-lifetime opportunity handed to them in the 2008 election. They did not focus on jobs, jobs, jobs as their primary mission.” Our over-reliance on fossil fuels, public education and the nation’s
Very interesting article from the NY Times yesterday:
The previously unknown deposits -- including huge veins of iron, copper, cobalt, gold and critical industrial metals like lithium -- are so big and include so many minerals that are essential to modern industry that Afghanistan could eventually
From the NY Times DealBook blog:
Mars, the maker of M&M’s and Snickers, wants to make sure it can continue dabbling in the derivatives market to protect the price of sugar and chocolate for its candies...Harley-Davidson is worried that its dealer-financed loans to bikers will fall victim to new fe
A Wall Street Journal editorial contrasts President Obama's rhetoric on the need to double exports with the administration’s inaction on trade and the resulting harm to American exports. The Journal examines the $3.4 billion of U.S. exports now facing retaliatory tariffs, including $2.4 billion of
It was announced that Tim Geithner will visit Beijing on Thursday for talks with the Chinese vice premier for economic affairs. No details have been made available but the decision suggests a move toward settling the Chinese currency dispute.The Washington Post reported that in a significant reversa
Bloomberg reports that the Obama administration is focusing on three candidates to succeed Justice Stevens - U.S. Solicitor General Elena Kagan and federal appellate judges Diane Wood and Merrick Garland. Kagan and Wood interviewed with Obama last year before he appointed Sonia Sotomayor. Garland, a
The Easter weekend brought the resurrection of the U.S. economy according to administration officials. Larry Summers, director of the National Economic Council and Christina Romer, chairman of the Council of Economic Advisers, both claimed that positive job numbers was proof that the economy is pick
C. Fred Bergsten from the Peterson Institute for International Economics writes on trade in the Washington Post. His four points of focus include: "the exchange rate of the dollar, trade agreements, our own export controls and tax policy." More on the second:
Such agreements increase U.S. imports,
A Wall Street Journal op-ed claims that while the President is "girding for battle with the financial sector," he may want to stick to a moderate approach. It was the FDR administration’s assault on companies and capital that ensured the depression’s duration. When complete recovery proved elusive
The New York Times op-ed columnist Bob Herbert writes, "There is a middle-class tax time bomb ticking in the Senate’s version of President Obama’s effort to reform health care." Herbert details the tax on so-called "Cadillac plans," which he claims is designed to tax the middle class. He argues tha
