positive According to a hypothetical posed by the Congressional Budget Office, if Congress’ deadlock worsened and nothing got done this year, the deficit would shrink heavily as the Bush tax cuts would expire and other spending initiatives would end. Huh.
negative However … this comes with a lot of pain. As federal workers lose their jobs, the unemployment rate would rise above 9 percent again, and the economy’s recent gains would get pushed back, according to CBO estimates. Would the cost be worth the benefit, guys? source
» The trade-off: “On the one hand, if policymakers leave current laws unchanged, the federal debt will probably recede slowly,” said CBO director Douglas W. Elmendorf. “On the other hand, changing current laws to let current policies continue … would boost the economy and allow people to pay less in taxes and benefit more from government programs in the next few years — but put the nation on an unsustainable fiscal course.” That’s a tough one, kids.
Despite the belief among analysts that her skills might better be suited for Fox News, the Tea Party Caucus leader will stick with Minnesota’s 6th district for now. It’ll be Bachmann’s fourth term if she wins.
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It was very touching. I thanked her for her service, wished her well, and she just looked beautiful.
Gabrielle Giffords shooting survivor Pat Maisch • Describing her impression of the resigning Congresswoman at her “Congress On Your Corner” event, which Giffords resumed on Monday, over a year after the shooting that nearly killed her. Rep. Gabrielle Giffords thanked the survivors and heroes from that day. Maisch was the one who wrestled the gun away from the shooter. Although Giffords has made incredible strides in her recovery, the Congresswoman has decided to leave office this week — but not before watching Obama’s State of the Union address tomorrow; she’ll be there in person. source
A family legacy continues: A Kennedy has held a high position of power in D.C for 63 years — until the passing of Edward Kennedy in 2009 and the retirement of his son Patrick in 2011. Joseph P. Kennedy III has decided to run for Congress to fill the gap. The Spanish-speaking Stanford and Harvard Law graduate hopes to fill the Congressional seat of Barney Frank. He’ll have some big shoes to fill, in more ways than one. source
Obama named Cordray to the Consumer Financial Protection Bureau in a recess appointment while Congress was out of town. Some feel Cordray’s stalled nomination was less about Congress’ dislike of Cordray but their hatred of Dodd-Frank.
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People upset with the Stop Online Piracy Act have a small reason to cheer this morning. The anti-piracy bill, which many Internet users feel could have a chilling effect on the Web, got tabled until early next year, giving a brief respite and an opportunity for alternative bills (such as Rep. Darrell Issa’s OPEN act) to gain footing. Being a creative bunch, many users have taken to design tricks, boycotts, even music to protest what they feel is a dangerous bill. Here are just a few examples of SOPA protests online:
one In the biggest change, the popular Pell Grant program for low-income students could run dry for as many as 100,000 students, as eligibility standards tighten.
two Foreign aid will decline, with a 17 percent drop in the operating budget coming to USAID. It’s part of a larger $6 billion cut coming to the State Department.
three The GOP won a health care victory, blocking the IRS’ ability to implement the Affordable Care Act’s provisions in 2012. The individual mandate hits in 2014. source
If Sen. Reid wants to hold up the jobs bill, he will go on Santa’s naughty list.
Rep. Jeb Hensarling (R-Texas) • Offering a somewhat … uh, interesting take on the House’s passage of a payroll tax cut, which Republicans pushed through with a fairly large caveat — it would speed up the process of approving the Keystone XL pipeline, which was delayed until 2013 to give some time to examine environmental issues brought up by critics. The bill is expected to die in the Senate, and even if it weren’t, Obama would most likely veto it. The divided Congress is under the gun to pass a payroll tax cut and a spending bill to fund the government beyond Friday. Sounds like a fun week, all. source
Well, that went great: The above video is a bewildering lesson in how not to deal with constituents. Rep. Joe Walsh, a member of the GOP’s freshman class in the House, blows up during a public event at a bar in Illinois. The video, which runs about seven minutes, highlights a shocking contrast between Walsh’s behavior and those of the people questioning him; the people, while confronting Walsh’s politics, were entirely within the bounds of polite discourse. Even as Walsh moves to one woman specifically and yells at her, her expression seems one of bemused surprise. Walsh has since excused his behavior by claiming he was “working on an empty stomach.” source
If Congress does something, then I can’t run against a do-nothing Congress. [If they do nothing] then I think the American people will run them out of town.
President Barack Obama • Answering a reporter’s question whether he was pursuing a similar reelection strategy to that of Harry Truman’s 1948 campaign against a “do-nothing Congress.” Obama has used a tougher, more confrontational rhetorical style against Congress lately, and while this does have much to do with his push on his proposed jobs bill, you needn’t be a cynic to see this as a desirable campaign strategy. source
