Senate Republicans have blocked a bill that aimed to eliminate tax subsidies for the five biggest oil companies in the United States.
Newt Gingrich has begun backpedaling following his verbal attack on Representative Paul Ryan’s (R-Wis.) budget proposal, which calls for significant Medicare reform.
The Montgomery County, Md. County Council has decided it’s not going to let budget problems stand in the way of its employees’ bedroom activities and has decided to continue paying for their little blue pills. The County Council is keeping funding for Viagra off the chopping block, despite the jurisdiction’s $300 million budget shortfall, according to an article on WashingtonExaminer.com.
Recently, the White House released the financial disclosure forms for President Barack Obama and Vice President Joe Biden. The form shows that large portion of the President’s wealth is seated in Federal debt. CNN’s White House blog reported, “The President and first lady Michelle Obama had assets valued between $2.8 million and $11.8 million in 2010. And between $2 million and $10 million of their assets are invested in super-safe U.S. Treasury securities, according to the disclosure form. That’s up from $1.5 million to $6 million reported invested in Treasury notes and bills in 2009.”
Billionaire George Soros has spent $48 million funding media properties, including media-industry organizations, journalism schools and investigative journalism. The left-leaning Soros, No. 46 on the Forbes list of The World’s Billionaires, has devoted his life to taking over American media, according to a report from FoxNews.com.
As the debate over raising the Federal debt limit rages, policy groups have suggested selling off Federal assets to pay debts. One Presidential contender, Representative Ron Paul (R-Texas), said the United States should sell the gold in Fort Knox — that is, if Fort Knox has any gold to sell. Paul called for an audit of the Federal government’s gold reserves in August 2010, but was voted down. He said, “If there was no question, you’d think they would be very anxious to prove to us that the gold is there.”
The field of candidates for the 2012 GOP Presidential nomination thinned out this past weekend, as former Arkansas Governor Mike Huckabee and business mogul Donald Trump removed themselves from consideration. The two announcements have further opened up a field that was already considered unpredictable.
Two private citizens and the Second Amendment Foundation (SAF) have filed a Federal lawsuit challenging Illinois’ prohibition of the carrying of firearms for self-defense. According to The Associated Press, Illinois residents Michael Moore of Champaign and Charles Hooks of Percy, along with the SAF, filed the suit on May 12, eight days after a measure that would have allowed residents to carry concealed weapons failed in the State Legislature.
The United States government has officially hit the debt ceiling limit, prompting the Treasury Department to undertake emergency measures in order to avoid the nation’s first-ever default. On May 16, Treasury Secretary Timothy Geithner told Congress the Treasury would, among other measures, use Federal pension funds in order to make debt payments until early August.