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2012/11/09

Fiscal cliff forecast: Bad now, worse later - The Washington Times

The Washington Times Online Edition  

Friday, November 9, 2012

Today's Top Stories

Fiscal cliff forecast: Bad now, worse later

As Congress prepares to try to negotiate ways to avoid the fiscal cliff, its own scorekeeper has some stark analysis: There will be pain no matter what, but ducking choices now will mean an even worse situation by the end of the decade.


Maryland: A lonely state for Republicans

Fresh from decisive losses in seven of Maryland's eight congressional districts and its worst performance ever in a U.S. Senate race, the Maryland Republican Party is searching for answers to stop its slide into irrelevance in the increasingly deep-blue state.

In Spain, they're never too old for a revolution

They occupy banks, stage sit-ins at government buildings and roar their rage at their own government and at German Chancellor Angela Merkel.

Mexican pot plans go up in a puff of smoke

A top aide to Mexican President-elect Enrique Pena Nieto says votes to legalize the recreational use of marijuana in Colorado and Washington state will force the Mexican government to rethink its efforts at trying to halt marijuana smuggling across the southwestern border.

Obama's battle on Benghazi far from finished

President Obama's victory in the general election this week does not silence those who have been criticizing his administration's response to the deadly Sept. 11 attack on the U.S. Consulate in Benghazi, Libya.

Boehner opens door to "comprehensive" immigration

House Speaker John A. Boehner said Thursday that his chamber will try to make progress on "comprehensive" immigration reform — a nod to the growing power of Hispanics, but a move that could produce a bloody battle within his own party, depending on how far he pushes his troops.

Obama lies low as calls for fiscal action grow

President Obama's first full day in Washington after his re-election was one of his least visible in memory, even as cries intensified on Capitol Hill for action to deal with the government's looming fiscal disaster.

U.S. says Iranian jets fired at U.S. drone over Gulf

Two Iranian fighter jets pursued and fired at a U.S. predator drone on Nov. 1, but failed to take it down, the Pentagon confirmed Thursday. The unmanned surveillance aircraft returned to base unharmed, a Defense Department spokesman said.

Holder mulls whether to continue second term in Obama administration

Attorney General Eric H. Holder Jr., held in contempt of Congress in June after refusing to turn over documents in the failed Fast and Furious gunrunning investigation, told law students at the University of Baltimore on Thursday that he was unsure whether he would serve in the second Obama administration.

Inside the Beltway: What Romney intended

"Smaller, simpler, smarter. Believe in America," reads the official motto emblazoned upon "Office of the President-Elect," a website launched by Mitt Romney's campaign through a Utah-based software site in late October. It was publicly visible for a time, soon to be discovered by several news organizations and deactivated after Mr. Romney lost the election.

McAuliffe beginning process of gubernatorial run

Former Democratic National Committee Chairman Terry McAuliffe said Thursday he plans to run for governor of Virginia in 2013, becoming the first Democrat to enter a race that will undoubtedly receive significant national attention as just one of two gubernatorial contests next year.

Obama to visit Myanmar this month

President Obama will make history later this month by becoming the first U.S. president to visit the Southeast Asian nation of Myanmar, which after nearly five decades of military rule has shaken off its pariah status by taking tentative steps toward democratic reform.

Weekly U.S. jobless claims fall to 355K

The number of people seeking unemployment benefits fell last week by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But officials cautioned that the figures were distorted by Superstorm Sandy.

Obama faces familiar world of problems in 2nd term

Now that his re-election is secured, President Barack Obama has a freer hand to deal with a world of familiar problems in fresh ways, from toughening America's approach to Iran and Syria while potentially engaging other repressive countries such as Cuba and North Korea and refocusing on moribund Middle East peace efforts.

Stocks slide on Wall Street, extending sell-off

Stocks slid on Wall Street Thursday, a day after the Dow Jones industrial average logged its biggest one-day drop of the year, as investors fretted about the potential for gridlock in Washington.

Suicide bomber kills 3 Pakistani troops in Karachi

A Taliban suicide bomber rammed a truck packed with explosives into a compound housing a paramilitary force in Pakistan's largest city on Thursday, killing three officers and wounding 20.

Commentary

DRIESSEN: The coming environmental battlegrounds

When American voters re-elected President Obama, they also returned his Environmental Protection Agency (EPA), Interior and Energy departments and wide-ranging agenda for "fundamentally transforming" our nation.

KUHNER: Obama's America

President Obama has succeeded in transforming America. The constitutional republic is dead. A socialist empire has been born. This is the true meaning -- and historical significance -- of Tuesday's election.

NUGENT: Four more years of debt and class warfare

We have fallen far and fast.

EDITORIAL: Gun ban back on Obama's agenda

That didn't take long. Less than a day after President Obama's re-election, the administration breathed new life into the United Nations' previously comatose treaty regulating guns.

GHEI: An end to European bailouts

The desire to keep on spending in the face of economic crisis is universal. In Greece, parliament voted Wednesday to implement $17 billion in spending cuts, and the reaction was swift and violent.

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  3. Mexican pot plans go up in a puff of smoke
  4. Keystone pipeline pushed to forefront
  5. Reid moves to limit GOP filibusters
  6. KUHNER: Obama's America
  7. EDITORIAL: Gun ban back on Obama's agenda
  8. Obamas battle on Benghazi far from finished
  9. DECKER: 5 Questions with Michael Savage
  10. Fiscal cliff forecast: Bad now, worse later

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