While Democrats and Republicans are discussing how to avoid US debt default and so far unwilling to move from their respective and entrenched positions, in what it seems to be turning into a dangerous chicken game, the country got today another set of bad news with new data that makes people question the optimistic idea of politicians about a bounce in the economy later this year. Read the rest of this entry »

On September 25, during his weekly radio address, President Obama referring to the full extension of the Bush tax breaks, specially when they were addressed to the wealthy, said “98 percent of Americans wouldn’t see any benefit from it.” Read the rest of this entry »

When this morning we woke up across the Atlantic from the US, we found out that we had expected had become true. The Democrats had taken a beating losing the House of Representatives as well as six Senate seats. Read the rest of this entry »

Yesterday the country was celebrating. After all the depressing news of the past months, it was a kind of catharsis that everybody needed. Unfortunately the problems did not disappear and we have to continue facing them. Read the rest of this entry »

Yesterday and for the second time, the Republicans thwarted the Democrats’ efforts to overhaul financial regulations. They released an alternative proposal that had some important differences in the regulation of consumer lending and they added provisions to tighten regulations of Fannie Mae and Freddie Mac, the mortgage giants, which the Democrats had not included in their proposal. Read the rest of this entry »

This afternoon the action finally begins in the House and if things go according to the predictions of the White House and the wishes of the Democrats, it could be that America might end before Easter with a Health Reform bill. Read the rest of this entry »

No, I did not watch President Obama’s speech last night. It was 2 am where I live! But today I have read lots of articles about it in American and European papers plus lots of blogs. Quite interesting as while in the blogs one can see which side the writer is from, in the papers there is not great criticism of the president. Which does not mean everybody though he was great or 100 percent right. Read the rest of this entry »