Barack Obama

In Iraq, ISIS Is Winning And The United States Is Losing

During the Iraq war more than 4,000 U.S. soldiers died, countless others were severely injured, and the total cost to U.S. taxpayers was more than 2 trillion dollars.  But now whatever the U.S. military accomplished during that war is being completely undone by ISIS.  On Monday, we learned that ISIS had fully taken control of the strategically important city of Ramadi.  Despite nine months of airstrikes by the U.S. military, ISIS continues to move forward and take new territory.  So what will the U.S. do if ISIS actually takes control of the entire country?

Someone Finally Read Obama's Secret Trade Deal And Admits The TPP "Will Damage This Nation"

"The public criticisms of the TPP have been vague. That’s by design—anyone who has read the text of the agreement could be jailed for disclosing its contents. I’ve actually read the TPP text provided to the government’s own advisors, and I’ve given the president an earful about how this trade deal will damage this nation. But I can’t share my criticisms with you. I can tell you that Elizabeth Warren is right about her criticism of the trade deal. We should be very concerned about what's hidden in this trade deal—and particularly how the Obama administration is keeping information secret even from those of us who are supposed to provide advice."

Chris Christie Calls Snowden Supporters "Civil Liberties Extremists" In His Latest Desperate Neocon Diatribe

“When Edward Snowden revealed our intelligence secrets to the world in 2013, civil liberties extremists seized that moment to advance their own narrow agenda." Well the founding fathers were also “civil liberties extremists” with a narrow agenda. That agenda was laid out in a little something called the Constitution. The most dangerous part of Christie’s language is calling Snowden defenders “extremists.” Christie knows exactly what that term has come to mean, and he deliberately used it.

US Foreign Policy In One Photo

Un-Photoshopped Reuters photo sums up US foreign policy perfectly as Abdul Latif bin Rashid Al Zayani, representing the Gulf Co-operation Council, appears to leave U.S. President Barack Obama hanging during a welcome ceremony at the White House this week.

Frontrunning: May 15

  • The fake: Avon-Offer Hoax Shows It’s Easy to Put One Over on SEC’s Edgar (BBG)
  • And the real: US buyout group TPG snaps up UK discounter Poundworld (FT)
  • El Niño near-certain to last through summer: U.S. climate center (Reuters)
  • Oil Sands Land Becomes Alberta’s Hot Real Estate as Oil Rebounds (BBG)
  • SEC a stumbling block in banks' forex guilty pleas: sources (Reuters)
  • Pimco’s Stocks Chief Maisonneuve to Leave as Funds Closed (BBG)
  • Bank of America’s Woes Test ‘Fixer’ CEO (WSJ)
  • Puerto Rico Governor, Lawmakers Agree on Revenue Proposal (BBG)

Seymour Hersh Slams Establishment Media: "I Am Not Backing Off Anything I Said"

"...if anyone didn’t think the president was going to f##k [the Pakistani military] they are out of their mind. He was always going to f##k them.... The White House has been very clever about this. They have gone after me personally. They don’t like me boo hoo hoo.... Don’t turn this into some sort of profound anti-American statement."

"Obama's Tax-The-Rich Plan Is Futile" Druckenmiller Warns, America's Aging Population Is A "Massive, Massive Problem"

"Young people are not going to be talking about cutting back," exclaims billionaire hedge fund manager Stanley Druckenmiller, ominously concluding "there will be nothing to cut back." The reason he is so doom-full about the future - an aging population will present a "massive, massive problem" for the U.S. in 15 years - as Bloomberg reports, because of demographics, "we're just using more and more of society’s resources to fend for the old people," warning that Obama's plans to tax the rich to pay for more social services for the poor would be futile.

Frontrunning: May 14

  • Amtrak train in Philadelphia wreck was traveling at twice speed limit (Reuters)
  • The engineer has no recollection of the crash and “no explanation” for what happened (WSJ)
  • Taliban claim attack on Afghan guesthouse that killed 14 (Reuters)
  • Chicago’s Junk Rating From Moody’s Puzzles Investors (BBG)
  • House votes to end spy agencies' bulk collection of phone data (Reuters)
  • Wesley Clark: The Penny-Stock General (BBG)
  • AOL’s Armstrong to Leave $213 Million Richer After Verizon Deal (BBG)

It's Only Fair To Tax The Wealthy, Obama Says: "They Are Society's Lottery Winners"

"when I say that, I’m not saying that because I dislike hedge fund managers, or I think they are evil, I’m saying that you’re paying a lower [tax] rate than a lot of folks who are making $300,000 a year... There’s a fairness issue involved here. And by the way, if we were able to close that loophole, I could now invest in early childhood education to make a difference. That’s where the rubber hits the road. That’s … where the question of compassion and ‘I’m my brother’s keeper’ comes into play. And if we can’t ask from society’s lottery winners to just make that modest investment, then really this conversation is for show."

Senate Democrats Defeat The President: Why Obama Is Rushing To Fast-Track The TPP

Moments ago, in an embarrassing setback for the president, Senate Democrats in a 52-45 vote - short of the required 60 supporters - blocked a bill that would give President Barack Obama fast-track authority to expedite trade agreements through Congress, a major defeat for the president and his allies who "say the measure is necessary to complete a 12-nation Pacific trade deal that is a centerpiece of the administration’s economic agenda." But don't count it out yet: the WSJ cites Mitch McConnell who told reporters shortly before the vote, which he expected to lose, that “This issue’s not over" adding that "I’m hopeful we’ll put this in the win column for the country sometime soon.”

The Average Age Of A Minimum Wage Worker In America Is 36

Did you know that 89 percent of all minimum wage workers in the United States are not teens?  At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women.  Millions upon millions of Americans are working as hard as they can (often that means two or three jobs), and yet despite all of their hard work they still find themselves mired in poverty.  One of the big reasons for this is that we have created two classes of workers in the United States. 

Frontrunning: May 11

  • Full picture of Clinton charities' foreign government funding remains elusive (Reuters)
  • Greece Readies for Another Week of Deadlines (BBG)
  • Greece says deal will be 'difficult' at Eurogroup meeting (Reuters)
  • Saudi Arabia’s Rulers Snub Arab Summit, Clouding U.S. Bid for Iran Deal (WSJ)
  • Saudi Aramco Said to Plan Spending $80 Billion Overseas (BBG)
  • The $900 Billion Influx That’s Wreaking Havoc in U.S. Bills (BBG)
  • Cameron rules out another Scottish independence vote (Reuters)
  • Banks Prep Defense for Anti-Wall Street Campaigns (WSJ)

A Multinational Trojan Horse: The Trans-Pacific Partnership

Peel back the layers of the TPP and you’ll find what some believe to be a “corporate Trojan horse.” Disguised as “free trade,” the TPP’s provisions and tactics undermine Constitutional safeguards and national sovereignty. But there’s also a silver lining. The TPP exposes who, in the marbled halls of political power, is working for whom. It forces politicians to put their cards on the table, and by their hands you will know them. Packaged as a gift to the American people that will renew industry and make us more competitive, the Trans-Pacific Partnership is a Trojan horse. It’s a coup by multinational corporations who want global subservience to their agenda. Buyer beware. Citizens beware.