[ Posted Wednesday, May 3rd, 2023 – 15:42 UTC ]
Since I know next to nothing about macroeconomics, I don't feel qualified to comment on today's news that the Federal Reserve hiked interest rates another 0.25 percent. They indicated that this will be the last one for a while, and inflation has already come down dramatically without crumbling the rest of the economy, but the future (as always) is uncertain. That's about the most intelligent commentary I can offer up on the matter.
Instead, let's take a look at how the Republican field of candidates for the 2024 GOP presidential nomination is shaping up. Because it seems certain that the number of candidates actually in the race is going to soon expand.
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[ Posted Tuesday, May 2nd, 2023 – 16:23 UTC ]
It is a rare day when Representative Alexandria Ocasio-Cortez and Nikki Haley agree on anything, but both of them are now on the same page on one particular subject -- that Senator Dianne Feinstein needs to resign her Senate seat if she can no longer do the required duties. I share this view, personally, and my opinion is perhaps more relevant than either of theirs, since I am an actual constituent of Feinstein's. California deserves to have two senators that are able to show up and cast votes and represent the most-populous state in the United States Senate. Feinstein hasn't been able to make it to Washington since February, and every week that goes by is another week of delay for many of President Biden's judicial nominees. If Feinstein weren't a crucial vote on the committee responsible for vetting such nominees, perhaps I wouldn't feel as strongly about it, but she is -- and the Republicans have blocked Chuck Schumer from replacing her on that committee. Feinstein has already announced she will not be running for re-election next year, so asking her to step down now isn't as contentious (or as insulting) as it might seem.
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[ Posted Monday, May 1st, 2023 – 16:37 UTC ]
We have moved into a new stage of the debt ceiling standoff between House Speaker Kevin McCarthy and President Joe Biden. This clock could now be ticking down faster than anyone expected. If Treasury Secretary Janet Yellen is right, the United States could be facing a default on its obligations as soon as the first of June -- one month from today. Biden has been holding firm on his refusal to negotiate budget matters in exchange for McCarthy freeing the hostage of defaulting on the nation's debt, and McCarthy is likewise holding firm on his insistence that a clean debt ceiling hike bill will not pass the House and that negotiations are the only way forward. McCarthy has now managed to get a rather bare-bones plan passed through the House (with zero votes to spare), which is effectively the GOP's list of demands -- their ransom ask in the hostage-taking, in other words.
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