Senate Republican leader blocks debt limit vote

(Reuters) – Senate Republican leader Mitch McConnell on Thursday prevented a simple majority vote on a proposal to give Democratic PresidentBarack Obama unilateral power to raise the debt limit. Senate Majority Leader Harry Reid brought the measure to the floor for consideration at the request of McConnell. But McConnell refused to permit a vote after Reid said it could pass with… Read more →

Detroit councilwoman to Obama: We voted for you, now bail us out

A Detroit city council member is asking President Obama to bail out the financially troubled city in return for residents’ overwhelmingly supporting his successful re-election bid. “There ought to be a quid pro quo,” said Councilwoman JoAnn Watson, according to My Fox Detroit. Nearly 75 percent of voters in Wayne County, which includes Detroit, voted for Obama on Nov. 6…. Read more →

Services slowdown raises ‘triple-dip’ threat

George Osborne is dealt a blow on the morning of the Autumn Statement as a key survey of Britain’s services raises the prospect of a “triple-dip” into recession. An unexpected slowdown in Britain’s vast services sector raised the prospect of a “triple-dip” recession, dealing a blow to the Chancellor. Growth in the sector slowed to its weakest in almost two… Read more →

We’re trying to stop the UN from regulating the Internet

A U.N. conference that kicked off today in Dubai has sparked fear of Internet censorship in the U.S. — something U.S. Ambassador Terry Kramer said he is doing everything in his power to prevent. “Nothing regarding the Internet do we want subject to U.N. review and regulation,” Kramer told Monday marked the first day of an 11-day conference. Kramer,… Read more →

Boehner ‘flabbergasted’ at fiscal cliff proposal

(CNN) - House Speaker John Boehner painted a bleak picture Sunday when talking about fiscal cliff negotiations between the White House and Republicans. “Right now I would say we’re nowhere. Period. We’re nowhere. We’ve put a serious offer on the table by putting revenues up there to try to get this question resolved, but the White House has responded with virtually… Read more →

Washington Proposes $1 Trillion Bailout For Delinquent Student Loans

A possible $1 trillion bailout is coming—and soon. America’s now-nationalized student loan industry just reached a value of $1 trillion, according to Citigroup, growing at a 20 percent-per-year pace. Since President Obama nationalized the industry (a tacked-on provision of the Obamacare bill), tuition has gone up 25 percent and the three-year default rate is at a record 13.4 percent. Ron… Read more →

Mexico’s new president to reset drug war, push reforms

(Reuters) – Mexico’s new president takes office on Saturday seeking to shift the focus away from a grisly drug war and onto economic reforms aimed at sparking fast growth and pulling the country out of the shadow of regional powerhouse Brazil. Enrique Pena Nieto inherits a $1.2 trillion economy that lagged other emerging markets for most of the past decade… Read more →