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AP: Announcements Monday by Republican Sen. Orrin Hatch of Utah and Georgia Sens. Johnny Isakson and Saxby Chambliss, as well as a strong hint by Sen. John Hoeven, R-N.D., that they would back that step appeared to seal enough GOP support to advance the measure . . . Others, like Arizona Republicans John McCain and Jeff Flake, said last week they would help advance the bill.
Breitbart: Sen. Jeff Sessions (R-AL), the ranking GOP member of the Senate Budget Committee, is warning his fellow Republican Senators against voting for the spending deal that House Budget Committee chairman Rep. Paul Ryan (R-WI) reached with Senate Budget Committee chairwoman Sen. Patty Murray (D-WA).
Daily Mail: A landmark budget agreement that passed in the U.S. House on Thursday faces certain death in the Senate unless at least five Republicans step up to support it – but so far there are no takers at all.
The Hill: Speaker John Boehner (R-Ohio) lit into conservative activist groups for a second straight day, saying they have “lost all credibility” by attacking a bipartisan budget deal before it came out.
The Hill: Speaker John Boehner (R-Ohio) on Wednesday sharply criticized outside conservative groups opposed to the House-Senate budget deal, accusing them of “using” GOP lawmakers to further their own goals.
Bloomberg: One day I hope some young turk’s lawsuit complaining about an unpaid internship makes it all the way to the U.S. Supreme Court, because there it would put a spotlight on a great irony: The Supreme Court has unpaid interns, too.
The Hill: Heritage Action announced Monday that it would include a vote on Yellen’s nomination, which is expected to take place in December, on its congressional scorecard. A vote in favor of Yellen will be rated negatively.
Examiner.com: “The whole notion of family is so undercut by the cohabitation mentality,” the Cardinal said, “these social trends are having a tremendous impact on the working-class communities who were once the backbone of the Church.”
The Hill: Yellen was approved in a vote of 14 to 8, garnering the support of 11 of the panel’s 12 Democrats, as well as three Republicans: Sens. Bob Corker (Tenn.), Tom Coburn (Okla.) and Mark Kirk (Ill.). The remaining seven Republicans on the panel opposed the nomination, as did Sen. Joe Manchin (D-W.Va.).
NCPA Policy Digest: The great American jobs machine is faltering, and it is time for Washington to pay attention. Part of the problem is the weakness of the current economic recovery. During the Great Recession, the labor-force participation rate declined. But even after the downturn ended in mid-2009, the rate continued to decline. The aging of the U.S. workforce explains only a fraction of this worrisome development.
CMS Spent More Than $1T in Less Than 1 Yr; More Than Entire Gov’t Spent When Medicaid-Medicare Enacted
CNSNews: The Centers for Medicare and Medicaid Services (CMS), which runs the federal government’s major health-care programs, and which was responsible for developing the Obamacare health-insurance exchange website, spent more than $1 trillion in just the first eleven months of fiscal 2013, according to the Treasury.
CNBC: Sen. Rand Paul is threatening to put a hold on the nomination of Janet Yellen to chair the Federal Reserve, a source close to the Kentucky Republican said Friday.
CNSNews: Americans who were recipients of means-tested government benefits in 2011 outnumbered year-round full-time workers, according to data released this month by the Census Bureau. They also out-numbered the total population of the Philippines.
Daily Caller: Republican Sen. Ted Cruz received an eight-minute standing ovation upon his return to Texas this past weekend, despite an extended, hostile campaign from Democrats and the mainstream media to portray him as a dangerous extremist.
Patrick J. Buchanan at Human Events: Now there may be a more cynical strategy than deliberately doing permanent damage to your country to help your party. Right now, I just can’t think of it. A party that would do such a thing would not only not deserve office; it would raise valid questions about the reasons for its continued existence. If this is how Republicans will behave when facing a decision on moral and political principle, why would conservatives want such a crowd representing them?
The Columbus Dispatch: Thirty-nine GOP representatives signed a letter in protest of Kasich’s plan to ask the seven-member legislative-spending oversight panel on Monday to approve $2.56 billion in federal money over two years to cover about 275,000 more poor Ohioans under Medicaid. They said Kasich’s maneuver will circumvent the “clear intent of the General Assembly,” a violation of Ohio law.
The Hill: McConnell said that even though he and many other Republicans “hate, detest and despise ObamaCare,” they are not going to be able to repeal it unilaterally while Democrats control the White House and the Senate.
Chriss W. Street at Breitbart: Having benefited for twenty years from their under-valued currency, importing manufacturing jobs, and exporting lower priced products, China’s comparative advantage is being destroyed by America’s oil and natural gas fracking boom. The Chinese communist authorities are terrified their loss of competitiveness will cause unemployment and the social consequences that flow from it. But with the terms of trade now substantially against China, convincing the world to dump the U.S. dollar as reserve currency and switch to the Chinese “renminbi” is their best hope to try to save tens of millions of manufacturing jobs.
The Hill: “In exchange for funding ObamaCare and raising the debt limit, Mitch McConnell has secured a $2 billion earmark,” the group wrote in a statement. “This is an insult to all the Kentucky families who don’t want to pay for ObamaCare and don’t want to shoulder any more debt.”
The Hill: The House voted 285-144 in favor of the bill, which would fund the government until Jan. 15 and raise the debt ceiling until Feb. 7. That followed an 81-18 Senate vote on the same measure.
CNSNews: He also criticized the conservative Heritage Foundation, which lobbied extensively against Obamacare. Hatch said he thinks Heritage is “in danger of losing its clout and its power around Washington, D.C.”
CNSNews: “Had Senate Republicans united and supported House Republicans, the outcome of this, I believe, would have been very, very different,” Cruz told reporters in the Senate Wednesday afternoon. “I wish that had happened, but it did not.”
George F. Will at Human Events: As of early Monday evening, Democrats had refused Collins’s bargain, giving several reasons but really having only one important one: They loathe the sequester, which prevents them from opening the spending spigot.
Above the Law: If you think you’re hurting for students to fill the seats now, just wait until it costs $78,000 a year to attend . . . Matt Leichter over at The Law School Tuition Bubble recently projected private law school tuition costs for the years 2017 and 2022. Before we get to the scary figures, let’s check out Leichter’s methodology . . .
David Limbaugh at Human Events: Every time we have a congressional impasse over budgetary issues, we hear from liberals predicting Shutdown-mageddon. Why don’t they ever join us in expressing concern over the inevitable financial collapse that will result from their policies?
AP: The government shutdown is slowing the wheels of justice in federal courts by delaying civil cases, forcing prosecutors to operate with skeleton staffs and raising uncertainty about the system’s immediate future if the stalemate continues past Thursday.
Politico: Sen. Ted Cruz confronted President Barack Obama over his health care law during a meeting at the White House Friday attended by dozens of GOP senators.
National Review: “The House Republicans so far don’t want to get rid of the shutdown. I don’t know in what world we’re faring well under the shutdown, in terms of policy or politics. So, in that sense, yeah, I’d rather have the Senate” take charge, says Arizona senator Jeff Flake.
The Hill: “They’re talking about extending the debt ceiling for two months or six weeks — please,” Reid said Friday. “We do not believe a six-week delay of a catastrophic default is enough time to give the economy the confidence it needs.”
The Hill: Senate Republicans are unhappy with a House GOP plan to raise the debt ceiling for six weeks without funding the federal government. They are coalescing around their own proposal to pair a short-term debt-ceiling increase with a year-long stopgap to fund the government.
CNSNews: House Republicans say they’ll go for a temporary extension of the debt ceiling in exchange for a “real commitment” from President Obama and Democrats to talk about the nation’s pressing problems.
CNSNews: Hatch also noted that unilateral decisions Obama had made related to the implementation of Obamacare had caused changes in federal spending without congressional approval—thus rendering false Obama’s claim that Congress is solely responsible for the current spending track.
Washington Post: In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default. Not so, Moody’s says in the memo dated Oct. 7.
The Hill: Senate Democrats and President Obama have split over important strategic decisions in the battle to raise the debt ceiling. Senate Democrats want to increase the nation’s borrowing authority for more than a year, taking Congress through the mid-term election.
National Review: “I do think it is an important date, and I don’t want to minimize that,” Corker told reporters when asked about the October 17 deadline, before adding: “Is that the real date? No.” The government likely has until around November 1 before the situation becomes “problematic,” he said, based on his discussion with financial leaders across the country.
CWN at Catholic Culture: The shutdown of the US federal government, due to a budgetary impasse in Congress, is threatening to make it impossible for Catholics to receive the sacraments on many military bases.
CNSNews: Over the past two weeks, a growing number of House Democrats have broken with their party leadership to vote with House Republicans to approve funding for parts of the federal government that do not involve implementing Obamacare.
The Hill: The Democratic National Committee on Monday enjoyed its biggest fundraising day since the 2012 election, capitalizing on the looming government shutdown and launch of ObamaCare’s healthcare exchanges.
The Morning Call: An amendment eliminating benefits for same-sex couples is the first to roll out in response to a Lehigh County budget with a $10 million deficit. Commissioner Tom Creighton is sponsoring the only amendment to the 2014 budget so far, pushing back against County Executive Matt Croslis’ expansion of benefits to same-sex partners whose marriage is recognized in another state.
Daily Caller: Although President Obama claims that he can’t avoid shutting down public sites and monuments, war memorials were in fact kept open during the 1995/1996 government shutdowns. The administration’s decision to barricade the Lincoln Memorial marks the first time in its history the memorial has been totally off limits to visitors during a shutdown.
Con Coughlin at the Telegraph: In short, the longer the Obama presidency continues, the more America’s status as a superpower ebbs away.
CNSNews: Sen. Ted Cruz (R.-Texas) said today on a conference call that even if the Senate passes a continuing resolution that permits funding of Obamacare the fight to defund it is not over–because Obamacare cannot be funded unless the Republican-controlled House of Representatives agrees to do it.
The Hill: House Republicans will meet on Saturday in the Capitol to plot their next moves in the fiscal fight, lawmakers said Friday.
The Hill: Senate Majority Leader Harry Reid (D-Nev.) set up a cloture vote for Friday on the House passed continued spending resolution that defunds ObamaCare.
CNBC: Thanks to the Fed, the interest rate paid on our national debt is at an historic low of 2.4 percent, according to the Congressional Budget Office. Given the U.S.’s huge accumulated deficit, this low interest rate is important to keep debt servicing costs down. But isn’t it fair to ask what the interest cost of our debt would be if interest rates returned to a more normal level? What’s a normal level? How about the average interest rate the Treasury paid on U.S. debt over the last 20 years?
AP: Here’s the truth about a government “shutdown.” The government doesn’t shut down. So the world won’t end if a dysfunctional Washington can’t find a way to pass a funding bill before the new budget year begins on Oct. 1.
The Hill: House Republican leaders announced Wednesday that they have cancelled a recess scheduled for next week in order to deal with a government spending bill needed to avoid an Oct. 1 shutdown of the government.
CNSNews: A record 23,116,928 American households were enrolled in the federal government’s Supplemental Nutrition Assistance Program (SNAP)—AKA food stamps—during the month of June, according to data released this month by the Department of Agriculture.
Rachel Lu at Public Discourse: Marriage has given structure and purpose to the lives of an incredibly diverse array of people, across millennia of human history. It can work for young Americans today. And the consolations of family life could help to compensate for the other disappointments and challenges that these over-optimistic youth are likely to encounter once they move beyond the classroom. Millennials want to hear this, and they need to know. If their elders want to atone for the mistakes of yesteryear, now is the time to start talking about marriage.
Reuters: President Barack Obama will appeal to business leaders on Wednesday to urge Congress to approve an increase in the U.S. debt limit and avoid a default that is possible as early as mid-October.
Politico: In the latest effort from the judiciary branch to protect its budget, the Judicial Conference of the United States—presided over by Chief Justice John Roberts Supreme Court—sent a letter to the president pleading for a FY 2014 budget that will allow the courts to carry out their functions.
The Hill: The Tea Party-affiliated Americans for Prosperity (AFP) on Wednesday demanded that any temporary spending bill that comes before Congress next month cut spending below 2013 levels.
Education News: The U.S. government’s books are in the red by more than $86.8trillion, according to an influential University of California San Diego economist.
The Hill: Nineteen Republicans voted Tuesday to advance a motion to begin debate on a bill funding the departments of Transportation and Housing and Urban Development, even though McConnell says the bill will bust the spending cap set by the 2011 Budget Control Act (BCA).
Public Religion Research Institute: Americans are generally pessimistic about upward economic mobility. Nearly half (47%) of Americans believe that their generation is worse off financially than their parents’ generation, compared to 16% who believe their generation is doing about the same, and 36% who believe they are better off than their parents’ generation.
FoxNews: Detroit has become the largest city in U.S. history to file for bankruptcy. State-appointed emergency manager Kevyn Orr on Thursday asked a federal judge permission to place the city into Chapter 9 bankruptcy protection.
The Hill: He gained kudos and Democratic friends, but some believe he undercut Senate Minority Leader Mitch McConnell (R-Ky.) and handed Reid a big win.
CNSNews: According to the Daily Treasury Statement for July 12, which the U.S. Treasury released this afternoon, the federal debt that is currently subject to a legal limit of $16,699,421,095,673.60 has stood at exactly $16,699,396,000,000.00 for 56 straight days.
The Hill: During an interview to air Sunday on CNN’s FAREED ZAKARIA GPS, Lew said top administration officials are intent on separating the debt ceiling from the broader debate over fiscal policy this year.
CNN: The early years of adulthood are supposed to be a time of optimism and hope, but for many Americans now in their 20s it has instead been a period of uncertainty and frustration.
CNSNews: The Social Security program faces $9.6 trillion in unfunded liabilities over the next 75 years, which is up $1 trillion from last year’s projection of $8.6 trillion, according to the latest report from Social Security’s board of trustees.
Wall Street Journal: Despite the growing evidence that colleges and universities cost too much, deliver too little and push too many young people into a lifetime of debt, the idea of going to college remains a key part of the American Dream. Now William Bennett, a former secretary of education and the author of “The Book of Virtues” (1996)—along with his co-author, David Wilezol—takes on a question that parents and teens are starting to ask: Is college worth the ever-increasing price tag? The authors’ answer is a hesitant “yes,” but with plenty of provisos and warnings about bigger problems ahead.
CNN: Student loan debt is leading some borrowers to put off buying a home, saving for retirement or even getting hitched — and many now regret taking out the loans in the first place.
The Hill: The House on Thursday passed legislation that would allow the government to borrow money above the debt ceiling, but only to service U.S. bondholders and make payments related to the Social Security Trust Fund. The Full Faith and Credit Act, H.R. 807, was passed in a 221-207 vote that saw all but eight Republicans favor the bill, and every Democrat oppose it.