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Click here to visit the new home of Politics Daily!Rep. Paul Ryan, chairman of the House Budget Committee in the new Republican era, is staking out territory as the tough new cop on the beat. In an hour-long session at the National Press Club, Ryan laid down conditions for raising the debt limit. He also said his budget won't include any money for the new health care law and he opposes bailing out states in fiscal crisis. The country's debt is more than $14 trillion and rising, and is expected to bump up against a borrowing ceiling in early spring. Ryan (R-Wis.) said that "obviously we can't default." But he said his party won't vote to raise ...
(Dec. 17) -- Fair and balanced ... and factually incorrect? A newly released study out of the University of Maryland concludes that viewers of the Fox News Channel were "significantly more likely" to believe a host of factually incorrect information than viewers who watched other television news organizations. Fox is by no means the only media outlet guilty of spreading what the study considers misniformation, but the channel's viewers were found to believe incorrect views on matters of established fact in much higher percentages than those peple who got their news of the world ...
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(Nov. 3) -- Back from the brink. The Big Three U.S. automakers posted solid sales in October, roughly two years after two of them received massive bailouts from the Obama administration. Ford said its October profits were up 19.2 percent from the year before, Chrysler saw a 37 percent jump and General Motors notched a 3.5 percent annual sales gain, The New York Times reported. Sponsored Links By comparison, Toyota saw a 4.4 percent drop in year-over-year October sales from 2009 to 2010, The Wall Street Journal reported, though the company has seen an overall increase in sales of 0.6 ...
(Oct. 25) -- The bailout of Wall Street and Detroit's automakers couldn't have passed without the support of Democrats. But bailed-out firms aren't returning the favor. According to The Washington Post, most of the campaign donations from bailed-out companies are going to Republicans, some of whom ardently opposed the Trouble Assets Relief Program to begin with: Companies that received federal bailout money, including some that still owe money to the government, are giving to political candidates with vigor. Among companies with PACs, the 23 that received $1 billion or more in federal money ...
(Oct. 20) -- Returns on the Troubled Asset Relief Program used to bail out the financial industry, better known as TARP, generated higher profits for taxpayers than 30-year Treasury bonds, according to a Bloomberg report. The government earned $25.2 billion on its investment of $309 billion in the financial sector, which many critics originally believed would result in losses of hundreds of billions of dollars. However, concerns persist regarding the TARP program. "From the perspective of the taxpayers getting their money back, TARP has been a great success," Todd Petzel, chief investment ...
(Oct. 6) -- There is perhaps no word more likely to stoke the anger of ordinary Americans than "bailout." Whether it's the hundreds of billions spent to save the financial industry or the tens of billions allocated to rescue America's carmakers, Washington "bailouts" of private industry have come to symbolize all that is wrong with our supposedly omnipresent and overbearing federal government. But there's one serious problem with all this anger -- it's utterly misplaced. Government bailouts have actually been a true success story that prevented a far worse economic calamity. Rather than a ...
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