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Sunday, January 2, 2011
30-Year Fixed Mortgage Rate Hits Seven Month High; Current 30-Year Fixed Rate is 4.73%
After the Election: Gallup's Frank Newport and Capitol Analyst's Stu Sweet Weigh in on What Happens Next.
Beware of home inspection red flag
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Parsing the Deficit Commission Vote
Gotta admit it, I was surprised by the number of yes votes on the President's deficit commission. It got a solid majority -- 11 in favor.
That is an accomplishment. This commission laid out the very tough choices facing the country and some serious folks voted to back it.
That said, it is important to look at the votes that matter most: What did people with power do?
There the record is more mixed. Looking at the elected officials on the commission, the plan got a split decision 6 yeas, 6 nays. That's pretty good. There are a lot of toxic political chunks in this soup -- higher taxes, increased Social Security retirement age, more taxes, tough spending cuts.
But to see the trend, you have to look deeper. Two yes votes come from members of Congress who are retiring. Sen. Judd Gregg (R) of New Hampshire and Rep John Spratt (D) of North Carolina. Spratt lost his re-election bid and joked, "As I read through [the report] I thought frequently, 'Thank God I'm not running again.'"
Taking out retiring members, the elected vote was 6 nays, 4 yeas.
Still, that is quite an accomplishment. Especially surprising was the yes vote by Sen. Dick Durbin, who is Assistant Majority Leader in the Senate, the Democrats number two man there. Durbin, however, was quick to point out his yes vote was only a vote to get the process going and to claim a seat at the table in future talks. He added the caveat, "I wouldn't vote for this commission report on final passage."
Durbin left that last part out of his op-ed in the Chicago Tribune.
What about the other no votes? Every re-elected member of the House voted no. The man in charge of writing tax law in the Senate, Max Baucus, voted no.
The deficit commission made more progress than I thought it would, but it still hasn't changed the political calculus on deficit reduction. I might add one other thought on the votes for deficit reduction. The votes that count the most right now are taking place on plans to extend the Bush tax cuts. That's where the real political action is.
Source: http://www.pbs.org/nbr/blog/2010/12/parsing_the_deficit_commission.html
Saturday, January 1, 2011
5 Post-Election Achievements You Should Know About
As the President said, it’s been the most productive post-election period we’ve seen in decades, capping off two of the most productive years in the history of Congress. Democrats and Republicans came together and made progress on some very big and important issues. Here are five post-election achievements you should know about (and so should your friends, family and neighbors):
1. Overturned Don’t Ask, Don’t Tell.
This was the right thing to do for our military, and it was the right thing to do for our country. No longer will thousands of patriotic Americans in uniform be forced to live a lie or leave the military because of their sexual orientation. We are a nation that believes all men and women are created equal. That principle of equality is now enshrined in law.
President Barack Obama signs the Don't Ask, Don't Tell Repeal Act of 2010 during a ceremony at the Interior Department in Washington, D.C., Dec. 22, 2010. (Official White House Photo by Chuck Kennedy)
2. Got the New START Treaty Through
The most significant arms control agreement in nearly two decades was passed in a bipartisan fashion. In doing so, we’ve strengthened American leadership on non-proliferation issues, reinforced our relationship with a vital ally, and made our country safer.
President Barack Obama shares a toast in the Oval Office with the members of his National Security Staff who worked on the New START nuclear arms control agreement, Dec. 22, 2010. (Official White House Photo by Pete Souza)
3. Signed Extension of Middle-Class Tax Cuts & Unemployment Insurance
The package will spur jobs, businesses, and growth. While not everyone was happy with every part of this package, the bipartisan support it received indicates that when taken as a whole, this is a good deal for the American people and the American economy. And economists across the political spectrum agree.
President Barack Obama, joined by Republican and Democratic members of Congress, signs the middle-class tax cuts bill in the South Court Auditorium of the Eisenhower Executive Office Building.
4. A New a Bipartisan Food Safety Bill
It constitutes the biggest upgrade of America’s food safety laws since the Great Depression.
5. Finally Got the 9/11 Health Bill Through
It will help cover the health care costs of the first responders who rushed to the World Trade Center to help, and inhaled toxic air as a result.
President Barack Obama holds a press conference in the South Court Auditorium, Dec. 22, 2010, (Official White House Photo by Chuck Kennedy)
While we’ve made significant achievements, it’s true that we didn’t get everything done. The President is disappointed that Congress wasn’t able to pass the DREAM Act or come together around a budget to fund our government over the long run.
Despite these setbacks, the past few weeks have proven that Washington is not doomed to gridlock. “I know there will be tough fights in the months ahead,” said President Obama, “But my hope heading into the New Year is that we can continue to heed the message of the American people and hold to a spirit of common purpose in 2011 and beyond. And if we do that, I’m convinced that we will lift up our middle class, we will rebuild our economy, and we will make our contribution to America’s greatness.”
Source: http://www.whitehouse.gov/blog/2010/12/23/5-post-election-achievements-you-should-know-about
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U.S. Housing Market Recovery Backtracks with 23% Year-Over-Year Rise in National Price Reductions
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