Nationwide confidence in our lawmakers is at an all time low. And this news isn't like to change that. More than 30 members of Congress have used over $ 300 million in earmarks and other spending to fund many public projects close to their own properties. That's the finding of an extensive investigation published in today's Washington Post. The Post also found 16 lawmakers who had sent tax dollars to places where members of their families work or serve on boards.
This week Congress returns from recess and Republican presidential hopefuls step up campaigning in South Carolina. Google, Microsoft, Citigroup, Wells Fargo, Goldman Sachs and Bank of America, along with other major companies, will announce earning reports. Myrtle Beach's visitors bureau welcomes the six GOP candidates for a debate with a 525-ton sand sculpture of their likenesses; meanwhile, Comedy Central's Stephen Colbert mulls throwing his hat into the ring.
Sunday marked one year since the Tuscon, Arizona shooting where Congresswoman Gabrielle Giffords suffered a gunshot wound to head. In total, thirteen people were injured and six other killed, including the shooter. At 10:11 a.m., when the shooting started, church bells and bells passed out to residents will ring out across Tucson.
Although some GOP hopefuls have been informally campaigning since this time last year and Barack Obama announced his campaign for reelection back in April, the January 3rd caucus will be the true beginning for the 2012 presidential race. This year, $5.9 million has been spent on TV advertising alone in Iowa. With no heavily favored Republican candidate, the strategy for turning fundraising dollars into actual votes has yet to reveal itself.
The economic downturn that has destroyed lives and businesses throughout the country has managed to avoid Capitol Hill. According to an analysis from The Washington Post, members of Congress have become much wealthier as many Americans have seen their finances shrink. The median net worth of a member of Congress is now $913,000 and climbing. Peter Whoriskey of The Washington Post discusses the growing economic gap between lawmakers and their constituents.
Just a day after an extension of the payroll tax cut passed the Senate by an overwhelming margin, Speaker John Boehner announced that he would not bring the bill to the House floor for a vote immediately. Instead, Boehner says Congress should pass a full-year extension of the payroll tax cut rather than the two-month extension agreed upon by the Senate. The House GOP is expected to vote the bill down Tuesday.
The death of Kim Jong-il and the future of both North and South Korea will dominate the headlines this week. Also, Republicans and Democrats are about to have another showdown over a deal to extend payroll tax cuts. Charlie Herman, business and economics editor for The Takeaway and WNYC, and Takeaway Washington correspondent Todd Zwillich discuss the major stories for the week ahead.
The National Defense Authorization Act for next year has been met with criticism by civil liberties organizations for provisions that they say would allow American citizens suspected of terrorist activities to be detained indefinitely. As the House and Senate work on versions of the bill, President Obama has quietly withdrawn a veto threat for the legislation — something he campaigned on as a presidential candidate in 2008. A Gallup from August shows that 71 percent of Americans believe basic civil liberties should not be violated, even if doing so would prevent terrorist attacks.
Massachusetts Democrat Barney Frank announced Monday that he will not seek re-election next year, after representing his district in Congress for more than 30 years. The announcement brings to an end the career of one of Congress's most quotable and cantankerous members. Frank leaves behind a legacy of notable achievement in economic policy, and will be remembered by history as the first member of Congress to come out as gay.
Disappointing many, but surprising few, the so-called Congressional "super committee" tasked with finding at least $1.2 trillion in deficit reductions announced it had failed to reach an agreement on Monday. Now, a wide range of spending cuts impacting everything from domestic to military programs will be implemented, which economists say will further hinder recovery. President Obama vowed to veto any legislation that attempts to undo the cuts. Both parties are snipping over who is to blame, though one private citizen's name keeps getting mentioned — Grover Norquist.
Congressional approval in the U.S. is at embarrassingly low levels. A recent New York Times/CBS News poll found Americans' approval of Congress in the single digits. And a story that aired on "60 Minutes" last weekend is not likely to improve Congress's standing with the public. Insider trading is a crime in the U.S., but the laws that apply to most Americans do not apply to their lawmakers. According to the report, powerful members of Congress and their staffs have used their knowledge of privileged information to make vast sums of money in the stock market.
Texas Governor and Republican presidential candidate Rick Perry announced a proposal Tuesday that has been circulated for years in chain emails: cut Congressional pay. It's part of what he calls his plan to "uproot and overhaul Washington." In addition, Perry wants to end lifetime tenure for federal judges. The proposal would drastically re-shape the federal government and may be unconstitutional. Takeaway Washington correspondent Todd Zwillich talks about whether this plan is likely to pass.
Since suffering a gunshot wound to the head in January of last year, Congresswoman Gabby Giffords and her husband, astronaut Mark Kelly, have largely shunned the spotlight. But now the couple is opening up about her recovery process in the new book "Gabby: A Story of Courage and Hope" and an interview with Diana Sawyer on ABC's "20/20."
There were a number of big stories out of Washington late this week. On Thursday, the Obama administration announced that it would delay making a decision on construction of the Keystone XL oil pipeline until after the 2012 elections. The pipeline, which would stretch 1,700 miles from Canada to the Gulf Coast, was opposed by environmental activists who said it threatened a major source of drinking water in Nebraska. Meanwhile, in Congress, the Senate unanimously passed a bill to help veterans find jobs and the "super committee" continues to debate a debt reduction plan.
Democrats were once again unable to overcome a Republican filibuster of President Obama's jobs bill on Thursday. It was the second time in 10 days the Senate refused to take up the bill. This version was scaled down to a $35 billion plan to help states and local governments avoid laying off teachers, police officers, and firefighters. The bill would have been paid for by a 0.5 percent surtax on incomes above $1 million to start in 2013. Todd Zwillich, The Takeaway's Washington correspondent, reports on the latest developments on Capitol Hill.
In a moment of bipartisanship, Congress passed three trade bills on Wednesday that had been embroiled in a political stalemate for years. The deals will promote foreign trade with South Korea, Colombia, and Panama. Consensus on the matter supports the idea that both parties think free trade will help the country's ailing economy. The action comes one day after the Senate defeated President Obama's Jobs Bill.
The New York police department arrested over 700 Occupy Wall Street protesters Saturday, for allegedly walking across the Brooklyn Bridge's roadway, instead of using the pedestrian path. Now in its third week, the movement has spread to other cities around the nation. Meanwhile, Fed Chairman Ben Bernanke is scheduled to testify before Congress tomorrow on the economic outlook for the country, and unemployment figures are set to be released Friday, as President Obama continues to push his jobs bill. And Nevada has moved its caucus date back, ahead of Florida's, which will likely affect the race for the Republican nomination.
A Senate panel will open an antitrust inquiry into the business practices of Google today. The search giant's executive chairman Eric Schmidt is expected to testify. Federal authorities are accusing the company of playing favorites with its own businesses in search results. Microsoft endured a similar antitrust case, which took nearly a year to resolve.
Republican critics like Mitch McConnell are calling it "class warfare" and a "massive tax hike" with "phantom savings." The president calls it simply a matter of shared sacrifice. Is Obama's new deficit reduction plan, which he unveiled in a speech Monday morning, a piece of legislation with a legitimate shot of being voted into law or simply a campaign move ahead of the 2012 election? And does the president's math add up when he says the bill is paid for?
Yesterday, there was a special election for the New York Congressional seat left vacant by disgraced Democratic Congressman Anthony Weiner. The largely Democratic district would logically have gone to Democratic Assemblyman David Weprin, but due to myriad political factors Republican businessman Bob Turner won the race.