Neel Kashkari, the former Goldman Sachs Group Inc. executive chosen by ex-Treasury Secretary Henry Paulson to help rescue the U.S. banking system, is readying a challenge to California Governor Jerry Brown even as the world’s 10th-largest economy reaches its highest level in more than three decades.
Mitt Romney has followed the playbook for winning the Republican presidential nomination to the letter. He raised more money than his opponents and built a national organization. He piled up endorsements from prominent party insiders. He proved he could win in a bellwether primary in New Hampshire and a major state in Florida.
The Republican war with President Barack Obama over funding the government and the new health-care law will play out in the coming days and months. The conflict now exposed within the party may shape its future for years.
Democrats have turned to an agenda that Republicans are calling class warfare, as President Barack Obama presses a “Buffett Rule” to tax the rich, Senate Democrats offer a millionaires’ tax instead and party leaders fulminate against Bank of America’s $5 debit-card service fee.
Federal Reserve Chairman Ben S. Bernanke is predicting an election-year economy that’s neither here nor there: growth that disappoints yet keeps the U.S. from slipping back into the recession billionaire Bill Gross has indicated may happen.
Republican front-runner Mitt Romney, who has cast the 2012 presidential campaign as “free enterprise on trial,” finds himself in a struggle over the role of capitalism in an unlikely place: within his own party.