Wednesday, April 30

United States

The U.S. political situation grew increasingly polarized in the last two decades with both parties moving away from the ideological center. What started as intense partisanship has turned into outright extremism, in some cases. Extremism peaked after the 2020 presidential election. It culminated in a violent and deadly scene as the defeated candidate denied he lost the election and encouraged a mob to “fight like hell” at the U.S. Capitol. Several factors are increasing the divide, including gerrymandering–or carving out–districts, the primary system for selecting candidates in the two parties, the amplification of partisanship in cable news and mass media, and campaign finance.

U.S.: Another Debt Limit Debacle Looms Large
2May By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

U.S.: Another Debt Limit Debacle Looms Large

May 2, 2023—U.S. Treasury Secretary Janet Yellen warned congressional leaders on Monday the federal government might have trouble paying its bills beginning in early June if Congress can't come together on terms for increasing the debt limit. The U.S. government breached the $31.381 trillion limit on amassing debt in January. Ever since the federal government has been resorting to extraordinary measures to get by. As of April 28, the U.S. federal debt stood at $31.45 trillion. State And Local Governments First To Feel The Pinch In a letter to Congress on May 1 Yellen said state and local governments are the first to feel the pinch. Today, Treasury stopped issuing securities known as State and Local Government Series (SLGS) that help states and local governments comply with tax reg...
Read More
US Regulators Act Following Bank Collapses
14Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Finance, Investing, Types of News: Brief, United States

US Regulators Act Following Bank Collapses

Run On Bank Was First Sign Of Significant Volatility Amid Rate Hikes March 14, 2023—U.S. regulators and policymakers acted swiftly over the weekend following the collapse of Silicon Valley Bank on Friday and Signature Bank on Sunday. The runs on the banks by customers are the first signs of major volatility following the Federal Reserve's multiple rate hikes to reduce inflation. The government through the Federal Deposit Insurance Corporation provided a risk-exception guarantee for all bank deposits of the two banks. That mitigated the risk of additional runs on banks. The details are as follows: The FDIC's guarantee would not apply to investors or unsecured debt holders. Regulators removed senior management of the banks. The FDIC took over Silicon Valley Bank and opened Signature...
Read More
U.S. Government Owes $395.5 Billion In Interest On The Debt
26Feb By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Bit, United States

U.S. Government Owes $395.5 Billion In Interest On The Debt

Feb. 26, 2023—Here's something to remember when discussing the U.S. budget, national debt, and debt limit: The U.S. government is expected to pay $395.5 billion this fiscal year on interest charges alone. That's a helpful reminder that comes from the Pew Research Center in a recent post. For more information on the U.S. budget, go to the White House's Office of Management and Budget. There you'll find historic tables of the U.S. budget. Moreover, the U.S. government is projected to spend over $1 trillion more this year than it collects in revenue. That money not only increases the U.S. debt, it also fuels rising inflation in America and beyond.
Read More
It’s A Rocky Start To The New U.S. Congress
3Jan By Patti MohrNo Comments
Domestic Politics, Political Systems, Domestic Politics, Types of News: Bit, United States

It’s A Rocky Start To The New U.S. Congress

118th Congress begins with no Speaker named to the House. With No Leader Named In The House, Work Cannot Begin January 3, 2023—As U.S. lawmakers opened a new session of Congress today under the slimmest margins of power. Although Republicans won a majority of seats in the House, intraparty conflict is preventing them from establishing control. With slim margins in both chambers, it is likely to be a weak Congress unless the two parties find room for compromise. Rep. Kevin McCarthy, R, failed to garner enough votes to become the new Speaker as 19 Republicans rejected him in back-to-back votes. In the first two ballots of the House, McCarthy won only 203 votes. In contrast to Republican infighting, Democrats voted unanimously for their leader Hakeem Jeffries, who received a total of...
Read More
House Committee Investigating January 6 Ends Work
3Jan By Patti MohrNo Comments
Democracy, Domestic Politics, Types of News: Brief, United States

House Committee Investigating January 6 Ends Work

The House Jan. 6 Committee released its final report on Dec. 19, 2022. Investigation Shows The Fragility of U.S. Democracy January 3, 2023—As a new Congress begins to take shape in Washington, the House Select Committee investigating the January 6, 2021 attack on the U.S. Capitol completed its work. At its core, the committee upheld its purpose of defending democracy in the United States. A key tenet of democracy is free and fair elections. In the 2020 presidential elections, the country nearly lost in fulfilling that promise to the people. Former President Donald Trump used every means possible—including a violent attack on the legislature—to hold onto power. As the truth came to light, the evidence showed the fragility of the republic itself and the key tenets of democracy i...
Read More
U.S. Politics: Senator Says ‘No’ To Extreme Party Pressure
9Dec By Patti MohrNo Comments
Types of News: Brief, United States

U.S. Politics: Senator Says ‘No’ To Extreme Party Pressure

Sinema Switches To Independent Status, Saying She Won't Be 'Blindly Loyal' To A Partisan Agenda December 9, 2023—As the final race for the U.S. Senate came to a close this week in Georgia, Arizona Senator Kyrsten Sinema made a surprise announcement: She's leaving the Democratic party to be an independent leader. Her decision won't affect the control of the Senate. Democrats will continue to led the upper chamber next year. Furthermore, Sinema said she doesn't plan to caucus with Republicans. That means her announcement won't change the distribution of money for Senate staff or committee seat makeup. However, it demonstrates a blow to the power of partisan politics. As such, it gives strength to independent thinking and action in Washington. Sinema said she did not run for offic...
Read More
Biden Warns: US Democracy At Risk [Full Transcript]
3Nov By Patti MohrNo Comments
Democracy, Types of News: Bit, United States

Biden Warns: US Democracy At Risk [Full Transcript]

November 3, 2022--Editor's Note: Amid increasing political violence and vitriol in the United States, President Joe Biden warned that "democracy itself" is at risk of being overtaken by "dark forces that thirst for power." The speech comes just days ahead of the Nov. 8, 2022 midterm elections. It's the first national election in the United States since the January 6, 2021 attack on the U.S. Capital and U.S. leaders. Below are Biden's full remarks from Wednesday. Columbus Club, Union Station, Washington, D.C. (November 2, 2022) 7:01 P.M. EDT  Full Remarks of President Biden: THE PRESIDENT:  Good evening, everyone.  Just a few days ago, a little before 2:30 a.m. in the morning, a man smashed the back windows and broke into the home of the Speaker of the House of Representatives, ...
Read More
A Week Before The Election, Biden Asks Big Oil To ‘Share The Wealth’
2Nov By Patti MohrNo Comments
Energy Policy, Oil & Gas, Types of News: Brief, United States

A Week Before The Election, Biden Asks Big Oil To ‘Share The Wealth’

November 1, 2022—A week away from the U.S. Midterm elections, inflation is grabbing the attention of voters and politicians alike. As Republicans play up the impact of rising prices and pin the blame on their opponents, Democrats point the finger at companies benefiting from higher prices. It doesn't take long for the focus to fall on energy companies, specifically those earning profit from the high price of oil on global markets. That's precisely the play President Joe Biden pulled from his playbook on Monday. "In a difficult time, Americans across the country have stepped up, and they — to do the right thing. But not everyone has stepped up," Biden said. "The oil industry has not — has not met its commitment to invest in America and support the American people. One by one, major o...
Read More
The End Of A Laissez-Faire Economy?
10Oct By Patti MohrNo Comments
Globalization, Global Disintegration, Types of News: Analysis, United States

The End Of A Laissez-Faire Economy?

Photo by Yibei Geng October 10, 2022—Free-market economies where business drives decisions based on supply and demand is still a concept. But many analysts are now asking how diligently is that concept being followed in practice? 'New Rules' for Business? Writing for the Financial Times, columnist Rana Foroohar says business leaders now have new rules to follow to succeed. For one, they need to cozy up to political bigwigs in Washington, D.C. It is not just that President Joe Biden and the Democratic-led Congress are enacting industrial policies, it is also a time of where the global economy is getting more competitive. Supply chains are regrouping and former trading partners are breaking up, or "decoupling." Ms. Foroohar says the U.S. government is not "yet in the business ...
Read More
Biden Shifts From Partisan Agenda To One Of Unity
3Mar By Patti MohrNo Comments
Domestic Politics, Types of News: Analysis, United States

Biden Shifts From Partisan Agenda To One Of Unity

Russia's War Is Uniting Democrats, Republicans, And Independents In Fight For Freedom March 3, 2022—Before the war in Europe started a week ago, you could say U.S. President Joe Biden led a country deeply divided by bitter politics and a populace upset by soaring inflation. The foul mood was evident in day-to-day life, even if you avoided the daily barrage of noise and diatribes of cable news. "Biden," a man muttered as we crossed paths in the post office parking lot in late February. It happened to be Presidents Day—a U.S. holiday celebrating past presidents—and the very mention of the word brought on a tirade of complaints. "Gas prices... That Biden." Then just a few days later, everything changed in America. It happened when Russian leader Vladimir Putin sent his troops and mis...
Read More

Contact Us