TPM News

After weeks of tumultuous negotiations, the White House's fiscal commission adjourned today without agreement on a controversial plan to reduce deficits by slashing spending and lowering income tax rates.

Recognizing that they'd fail to meet the 14-vote threshold for passage, the 18-member commission ultimately did not take a final vote. However, members announced their positions ahead of today's final meeting, and in the end a majority -- according to Sen. Kent Conrad (D-ND), 11 in total -- claimed to support the proposal.

Read More →

Republican Joe Miller argued yesterday that expediting his Alaska Senate lawsuit is unnecessary because there's no "evidence at all" that suggests Sen. Lisa Murkowski will lose her seniority if she's not seated by January 3. But even if she did, Miller said, who cares, because the House might ban earmarks anyway.

"What exactly are we getting for it?" he asked.

Read More →

by Jeff Gerth, ProPublica

Newly released documents from the Federal Reserve Board show that General Electric Co. was a significant user of one of the Fed's rescue programs in the fall of 2008, even as the blue-ribbon company enjoyed the highest credit rating available at the time.

Over several weeks in late 2008, GE borrowed $16 billion by selling commercial paper through the Fed. Companies like GE typically rely on these short-term IOUs to fund daily operations, but as the credit crisis unfolded that fall, private markets were virtually frozen.

GE publicly disclosed in late October 2008 that it had entered the Fed's program but did not reveal the extent of its borrowings.

Read More →

Rep. Michele Bachmann (R-MN), the star of the Tea Party right who recently waged a short-lived and unsuccessful bid for House Republican Conference Chair, says that the House GOP leadership will hold a vote on the full repeal of health care reform -- but if they don't, she says, they should face an "insurrection" within the caucus.

Bachmann made the remarks in an interview with Terence Jeffrey of CNSnews.com, when she was asked whether the leadership would hold the vote.

"If they don't, I think there needs to be an insurrection here in Washington, D.C, against our own leadership--because that is the message that's come loud and clear out of this election: a full scale repudiation and rejection of the federal government takeover of private industry."

Read More →





Currently, Sarah Palin is touring the country promoting her new book, America By Heart, and even though the tour recently made its way to Iowa - home, of course, of the almost-mythical Iowa caucus (first in the nation!) - Palin's remaining mum on whether or not she'll run for president in 2012. CNN's Jim Acosta tried to get her to change that yesterday when he caught up with Palin at a signing taking place at a Spirit Lake, Ia. Wal-Mart, but as he recounted to Wolf Blitzer on The Situation Room, didn't have much success.

Read More →

LiveWire