Tuesday, April 8

Domestic Politics

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...
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Economic Sands Shift: ‘B’ Is For ‘Beginning’
16Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Europe, EU, Eurozone, Finance, Investing, Global Economics, Types of News: Videos

Economic Sands Shift: ‘B’ Is For ‘Beginning’

March 16, 2023-Recent turmoil in the banking sector in the United States and Europe poses a challenge to governments facing inflation. Here's my take. Due to the lag effect of central bank policies, what we are seeing in the banking sector is a beginning not an end to financial troubles. https://www.youtube.com/watch?v=oyBfFctQYn4
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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...
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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.
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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...
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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...
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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...
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In Communist China, Xi Is Completely And Unquestionably In Charge
7Nov By Patti Mohr1 Comment
Communism, Dictatorship, Domestic Politics, Types of News: Analysis

In Communist China, Xi Is Completely And Unquestionably In Charge

Xi's in charge. Communism vs. Democracy: Why It Matter November 7, 2022—If you want to know what communism looks like, you don't need to spend time in China, Cuba, Laos, or Vietnam. You don't even need to spend hours watching the National Congress of the Chinese Communist Party, the twice-a-decade gathering that selects the country's highest rulers. All you need to see is one minute of the final ceremony right before officials announce the new leaders. It was at that moment that party members came for former President Hu Jintao. Note, the 79-year-old Hu served as China's president from 2003 to 2013. As a leader, he served during unprecedented growth that cemented China's status as a world power. But that record didn't secure him much dignity to let him stay seated during the anno...
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Cuba Wins At The UN, Launches New Crack Down At Home
3Nov By Patti MohrNo Comments
Diplomacy, Domestic Politics, Types of News: Brief

Cuba Wins At The UN, Launches New Crack Down At Home

'It's Getting Ugly,' Economist Writes About Price Fixing Policies November 3, 2022--The United Nations General Assembly took up the Cuban government's annual resolution to end the economic embargo imposes against that country. Cuba has widespread support among UN delegates for its request to end the U.S. embargo, which hampers its trade and economy. "The blockade constitutes a massive, flagrant and systematic violation of thehuman rights of the Cuban people," Cuba's resolution asserted. U.S. Political Counselor John Kelly issued a statement defending the U.S. position. "Mr. President, the United States opposes this resolution, but we stand with the Cuban people and will continue to seek ways to provide meaningful support to them," Kelly said. "We encourage this body to urge t...
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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, ...
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