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Posts Tagged ‘House’

Debt Ceiling Vote Could Spark First U.S. House GOP Battle
A looming revolt against raising the national debt limit has opened the first visible rift between the new GOP leadership in the U.S. House and a faction represented by House Tea Party Caucus leader Michele Bachmann.

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First Rep. Charlie Rangel (DN.Y.) surrenders his chairmanship of the Ways and Means Committee amid an ethics investigation. Now Speaker Nancy Pelosi (D-Calif.) proposes an idea that she hopes will help her make good on her promise to help lead “the most ethical Congress in history”—a party-wide ban on earmarks. Will it happen? Don’t bet on it. Reason.tv’s “Pork Party House” helps explain why neither party can resist the pull of pork. If you’re a politician, lobbyist, or insider and you’re in the mood to party, check out a Washington DC mansion called the Sewall-Belmont House. Party with senators and celebrities at thousand-dollar-a-plate fundraisers! You might even get to ride a mechanical bull! The Sewall-Belmont House hosts so many A-list events, you might be surprised to find out that your tax dollars help fund this hotspot for Washington insiders. “Over the last 10 years, the Sewall-Belmont House has gotten over $3.4 million in earmarks,” says Leslie Paige of Citizens Against Government Waste. Reporters often highlight the most ridiculous examples, but politicians have learned how to make their pork projects sound uncontroversial, even appealing. Just say your project will help children, senior citizens, or—if you really want to slip under the radar—direct taxpayer dough to a museum. “Museums are one of the biggies because they sound so good,” says Paige. Sen. Mary Landrieu (D-La.) used that angle to direct a million-dollar earmark to the Sewall-Belmont House (after …

House passes small business loan bill
WASHINGTON — Here’s how area members of Congress voted on major issues in the week ending Sept. 24.

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Intro Hello. I’m Bernard Hickey with the daily briefing from interest.co.nz… Today, we’ll look a bit more closely at what the Reserve Bank is saying about house prices and the willingness of banks to lend in the midst of this credit crunch, And we’ll look at the latest development in the turmoil on global credit markets. This time it’s all about Fannie Mae and Freddie Mac. They don’t sound like serious names, but this is a serious problem. It’s worth the wait. Story 1, But firstly, we look a bit more closely at what the Reserve Bank said yesterday about house prices. A few comments were made that were buried under the headlines about steady interest rates and slowing economic growth. The Reserve Bank reckons house prices will fall by an average 5% in 2008 and probably be stable in 2009. But Reserve Bank governor Alan Bollard has warned that there is a risk that house prices call fall much more sharply. He says there has been a tightening of credit conditions among banks, who are being more cautious about how they lend to businesses and consumers. The Reserve Bank also reckons that house prices are 20-30 per cent over valued in real terms. That could either mean a sharp correction of prices in the next year or two or a long slow catch up where actual prices don’t move but inflation of 2-3% a year for a decade or so whittles away that over valuation. There’s even some discussion on propertytalk.com that we might not see any more capital gains for property investors for 50 …

Better version here: youtu.be house.gov CampaignForLiberty.com Congressman Ron Paul speaks up during discussion on a motion to instruct conferees on HR 4173, the so-called “Wall Street Reform and Consumer Protection Act of 2009.” Text is below Mr. BACHUS. Mr. Speaker, I yield 4 minutes to another gentleman from Texas (Mr. Paul). (Mr. PAUL asked and was given permission to revise and extend his remarks.) Mr. PAUL. I thank the gentleman for yielding. Mr. Speaker, I rise in support of this motion to instruct. I think it is a good idea that we don’t have the taxpayers bailing out eternally institutions that are bankrupt. But there is an important thing to remember, that when an economy gets out of kilter, the marketplace demands a correction of that. And that’s usually called the recession. Of course, we are not discussing here today exactly how we get into the excesses, but we do. And, unfortunately, debt gets too high and mal-investment gets too excessive, and the market wants to correct this. Now, it’s essential that this excessive debt be liquidated. It can be liquidated in two different ways. It can be written off by inflationary currency and paid off with bad money, or it can be liquidated actually through the bankruptcy process. So I am in strong support of this, but I also want to make a point here and a suggestion to the conferees that they pay attention to the provision in the House version of our bill dealing with the Federal Reserve. And that provision is called …

House passes war funding, domestic spending
House Democrats pushed ahead legislation Thursday that pumps $33 billion more into the wars in Iraq and Afghanistan while boosting domestic spending for teachers, student loans and U.S.-Mexico border security. An amendment to the war funding bill, sponsored… Democratic – War in Afghanistan – Iraq – Mexico â United States border – Iraq War

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Summary Box: House OKs higher gov’t mortgage fees
FEES MAY RISE: Consumers who take out home loans guaranteed by the Federal Housing Administration could soon pay higher fees after House lawmakers approved a bill giving the agency power to hike monthly premiums.

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