POLITICAL HOT TOPICS: Friday, August 5, 2011
August 5th, 2011
04:21 AM ET
7 years ago

POLITICAL HOT TOPICS: Friday, August 5, 2011

The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.

For the latest political news: http://www.CNNPolitics.com

CNN: Obama to unveil new jobs push for veterans
In a speech at the Washington Navy Yard scheduled for Friday morning, the president is expected to lay out a series of reforms that his administration is pledging will better prepare service members for the civilian work force and encourage employers to hire recent veterans.

CNNMoney: Stocks: Worst day since 2008 financial crisis
Stocks plunged Thursday in their single worst day since the 2008 financial crisis. The Dow tumbled 512 points - its ninth deepest point drop ever - as fear about the global economy spooked investors. …U.S. markets were already sharply lower on widespread worries, including the weak job market.

CNN: Source: Senate to pass FAA deal to end partial shutdown
Senate will pass the necessary FAA legislation by unanimous consent Friday in a so-called "pro forma" session to help restore funding, a Senate Democratic leadership aide told CNN. Majority Leader Harry Reid, as the lone senator present, will conduct the session and call for unanimous consent to pass the measure, which was approved by the House, the aide said.

CNN: Poll: No one wins in debt ceiling deal
No one has emerged spotless from the debt-ceiling debate, according to a survey conducted in the aftermath of the agreement to raise the nation's debt ceiling. A CBS News/New York Times poll released Thursday revealed that eight in 10 Americans say they disapprove of how Congress is handling its job – the highest number in the poll's history since 1977.

CNN: Panetta picks up where predecessor left off on Pentagon budget cuts
Vowing that he "came into this job to fight," Secretary of Defense Leon Panetta said he intends to make sure "some common sense prevails" as Congress works to find more ways to reduce the national debt. Panetta, just a little over one month on the job since replacing Robert Gates, held his first Pentagon news conference Thursday.

For the latest national news: http://www.CNN.com

CNNMoney: Teaching jobs disappear
Friday's jobs report could kick off the worst quarter for state and local government jobs on record. And teachers are at the center of the bullseye. The public sector is estimated to have shed 65,000 positions in July, according to Greg Daco, U.S. economist for IHS Global Insight. Some 50,000 are projected to come from state and local governments.

CNN: CDC: Salmonella outbreak more resistant to antibiotics than usual
Federal health officials said Thursday that a recent salmonella outbreak may be more resistant than usual to antibiotics, leading to higher hospitalization rates. Twenty-two of the 78 people diagnosed with salmonella as a result of the outbreak have been hospitalized, said Dr. Chris Braden, a top official at the Centers for Disease Control and Prevention.

New York Times: Shell Gets Tentative Approval to Drill in Arctic
The Department of the Interior on Thursday granted Royal Dutch Shell conditional approval of its plan to begin drilling exploratory wells in the Arctic Ocean next summer, a strong sign that the Obama administration is easing a regulatory clampdown on offshore oil drilling that it imposed after last year’s deadly accident in the Gulf of Mexico.

CNN: Jurors weigh punishment for polygamist sect leader Warren Jeffs
A Texas jury will deliberate the fate of Warren Jeffs on Friday, a day after the polygamist sect leader was convicted of sexual assault. Jeffs, who represented himself after firing his defense team, remained stoic as the verdict was read Thursday.

CNN: Psychological association calls for legalization of same-sex marriage
The American Psychological Association is calling on state and federal officials to stop anti-gay legal measures and to legalize same-sex marriage. The scientific and professional organization's guiding body voted unanimously at its annual meeting this week in Washington to declare its support for "full marriage equality for same-sex couples."

For the latest international news: http://edition.cnn.com

CNN: Asian markets follow Wall Street sell-off
Asian stock markets recorded sharp declines Friday, extending a global equity sell-off after Wall Street had its worst day since the 2008 financial crisis. Japan's Nikkei and South Korea's Kospi both closed down 3.72% and 3.70% respectively. Australia's All Ordinaries closed down more than 4 percent.

CNN: Deaths pile up in Hama siege
Scores of people died Thursday in and around the restive Syrian city of Hama, activists said, corroborating reports of widespread casualties a day after the start of a new military clampdown targeting protesters. At least 109 people died in and around Hama, said Avaaz, a global activist group, citing a medical source.

CNN: Retreating Gadhafi forces leave behind deadly mines
The front lines of Libya's grinding war weave through the western mountains and around Zlitan, the last city east of Tripoli still under the grip of strongman Moammar Gadhafi. In many places that Gadhafi's forces have fled, they've left behind deadly fields of mines - tens, perhaps hundreds of thousands of them, say the rebels.

The Guardian: UK's secret policy on torture revealed
The interrogation policy – details of which are believed to be too sensitive to be publicly released at the government inquiry into the UK's role in torture and rendition – instructed senior intelligence officers to weigh the importance of the information being sought against the amount of pain they expected a prisoner to suffer. It was operated by the British government for almost a decade.

CNN: Rains, flooding a threat in Haiti as Emily disintegrates
Heavy rain and potential flooding threatened hundreds of thousands of Haitians living in temporary quarters early Friday as the remnants of Tropical Storm Emily made a final stand across the central Caribbean.

For the latest business news: http://www.CNNMoney.com

CNNMoney: Stock market plunge: Not just a rich guy problem
As stocks posted their worst day since the 2008 financial crisis Thursday, investment advisors cautioned panicked clients to remain calm. But, for some investors, this latest sell-off has dealt a devastating blow. Big fund shops, including T. Rowe Price, Vanguard and TIAA-CREF, received a wave of calls from investors seeking guidance about what to do as the Dow went into free fall.

Wall Street Journal: New Fee to Bank Cash
Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash. The unusual move means some U.S. depositors will have to pay to keep big chunks of money in a bank, marking a stark new phase of the long-running global financial crisis. The shift is also emblematic of the strains plaguing the U.S. economy.

Bloomberg: Treasuries Poised for Biggest Weekly Advance Since Fed Rate Cut in 2008
Treasuries headed for their steepest weekly gain since the last time the Federal Reserve cut interest rates in 2008 on concern economic growth is slowing. Bonds surged from Japan to Australia to Germany this week as investors sought the relative safety of government debt while stocks tumbled around the world.

In Case You Missed It…
A U.N. report looks into the oil spills of 2008 and 2009 in Nigeria's Ogoniland region. CNN's Christian Purefoy reports.

Filed under: Political Hot Topics
soundoff (One Response)
  1. J

    Oh great, so now not only will the vets be getting all the government jobs, like they already do, they will also be getting all the jobs in the private sector. I guess in this country the only "Equal Employment Opportunity" that exists is just for anyone that served in the military. Good luck to any of you that chose to go to college or didn't qualify for the military for medical reasons.

    August 5, 2011 08:46 am at 8:46 am |