Leaders of the anti-tax Tea Party are fuming about plans by some Republican strategists, including Karl Rove, to tap the party’s wealthy donors and raise money to help “electable” candidates win primary races.
President Barack Obama and congressional leaders are pushing ahead with deficit-reduction talks as some lawmakers in both parties express skepticism about a fallback plan by Senator Mitch McConnell to raise the debt ceiling.
Even after a surging Rick Santorum had tied Mitt Romney in the Iowa caucuses, Intrade, the predictions market for politics, put Santorum’s chances for the Republican presidential nomination at less than 5 percent. Traders apparently think Romney will win because he has the funding and organization.
Pressure built in Congress for the Secret Service to fire the remaining agents and officers involved in a prostitution scandal in Colombia that may become an election-year distraction for lawmakers and the White House.
President Barack Obama told lawmakers they have until tomorrow to decide whether they can reach a deal to cut the deficit or settle for a way to raise the $14.3 trillion debt ceiling before U.S. borrowing authority expires Aug. 2, two Democratic officials said.
President Barack Obama may summon congressional leaders to a Camp David summit this weekend after the latest round of White House negotiations on the deficit ended on a tense note and Moody’s Investors Service warned the stalemate could jeopardize the U.S.’s credit rating.