TPM News

House Republicans have been successful at forcing significant cuts to the federal budget over the last nine months, but it hasn't translated into the economic expansion they promised. "Cut and grow" they called it, but so far there's been a lot of "cut" and not much "grow."

Here's House Majority Leader Eric Cantor (R-VA), echoing the vast majority of Republicans, in February: "[W]e must cut government spending to bring down the deficit and the debt because if you look at the current levels of debt, added what's required to fund future deficits, you're going to have a crowding out of private capital. If you do, businesses will not grow, and you will overall retard that economic growth. You will bring on inflation, erode the value of the dollar and create an economic environment where you are going to reduce consumer spending power and ultimately the standard of living in America."

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Rep. Tammy Baldwin (D-WI) just declared her candidacy for Wisconsin's open Senate -- and already, two prominent Democrats have declared their candidacies for her House seat representing Madison and the surrounding counties.

Two Democratic state representatives, Mark Pocan and Kelda Roys, announced their campaigns Wednesday morning, and it remains possible that other Democrats could also declare for this deep-blue seat in a district Barack Obama carried by more than two-to-one in 2008.

During the recent debates on Gov. Scott Walker's anti-public employee union legislation, both Pocan and Roys maintained high profiles in lobbing rhetorical fire against the proposals.

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SALMON, Idaho (Reuters) – A 15,000-acre wildfire in forested peaks in Idaho has forced the evacuation of 100 people and halted construction work on a planned strategic metal mine, officials said on Wednesday.

A hoarse and recovering Jon Huntsman called into MSNBC earlier Wednesday and discussed the state of the race heading into tonight's big debate.

Lagging in the polls, Huntsman again promised that things will pick up for him soon. He also said he's not ready to make the same huge economic promises Mitt Romney did yesterday.

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Palestinian officials are putting President Obama front and center in their new campaign to rally support for a UN vote on statehood -- whether he likes it or not.

Reuters reports that a new radio spot features a clip of Obama addressing the UN and expressing optimism that negotiations between Israel and the Palestinian Authority might yield results. "When we come back here next year, we can have an agreement that can lead to a new member of the United Nations, an independent, sovereign state of Palestine living in peace with Israel," he says.

"If he said it, he must have meant it," Palestinian President Mahmoud Abbas responds in the ad.

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The Justice Department announced Wednesday that Kevin Harpham, the man arrested for planting a bomb along the route of a Martin Luther King, Jr. Day parade in January, has pleaded guilty to attempted use of a weapon of mass destruction and attempt to commit a federal hate crime.

Harpham's plea agreement calls for a sentence of between 27 and 32 years in prison as well as a lifetime term of court supervision after he is released from prison, according to DOJ.

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What's next for Yahoo in the wake of its abrupt firing of CEO Carol Bartz?

If someone really knows, then Yahoo probably wouldn't be in the position it is now, a rudderless, gutted ghost ship that enjoys a huge legacy audience, but that hasn't managed to upgrade or direct itself sufficiently to compete in a media world that is increasingly centered around users' behavior and social connections.

While the well-compensated Bartz took the fall for the lack of lift-off of Yahoo's stock price under her relatively short tenure, Yahoo's board has also come under fire in popular commentary. After all, it has replaced three CEOs in just over four years.

Nevertheless, investors cheered the move Wednesday, sending the stock up 4 percent Wednesday in the wake of Bartz's firing.

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GOP presidential candidate Jon Huntsman announced that he will host his first town hall in New Hampshire next week. The state, which holds the first primary, is a vital part of his campaign’s strategy. Spokesman Michael Levoff explains, ‘Town halls are a quintessential part of the primary process in New Hampshire. Governor Huntsman looks forward to answering voters’ questions and sharing with them his record of leading Utah to number one in job creation and making the largest tax cuts in the state’s history.

Fellow candidates Mitt Romney, Newt Gingrich, Ron Paul, and Rick Santorum have all already held town halls in the state.

Politico’s Ben Smith reports:

Democratic National Committee Chairwoman Debbie Wasserman Schultz, a party source said, has nominated Minneapolis Mayor R.T. Rybak as DNC vice chairman, a move expected to be finalized at a party gathering this weekend.

By Nikki Gordon-Bloomfield

Bringing a new car to market costs a lot of money -- around $1-2 billion per platform on a new volume vehicle.

As any auto industry insider will tell you, it isn't just money either -- it's about years of planning, development and testing before a car is ready to make the transition from computer renderings to the dealer's lot.

For most automakers, building a new model involves looking back on years of experience developing engines, tweaking chassis and perfecting drivetrains -- but what does it cost to develop an entirely new range of cars from scratch?

That's a question we've all wondered for some time. According to Nissan/Renault CEO Carlos Ghosn, the answer is a lot.

$5.6 billion.

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