POLITICAL HOT TOPICS: Wednesday, August 24, 2011
August 24th, 2011
04:18 AM ET
3 years ago

POLITICAL HOT TOPICS: Wednesday, August 24, 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.

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

CNNMoney: Economists: Fed should stay put for now
Economists aren't looking for Federal Reserve Chairman Ben Bernanke to announce some new plan to rescue the struggling U.S. economy in a much-anticipated speech this Friday. In fact, most will be happy if Bernanke and the Fed decide to stand pat, despite growing fears about the risks of a double dip recession.

Bloomberg: He ‘Didn’t Come to Explain a Damn Thing’: Biden
Vice President Joe Biden said he “didn’t come to explain a damn thing” on his visit to China, adding that the country’s economy had become the world’s second biggest due to the stabilizing presence of U.S. troops in Asia.

CNN: Justice Department to brief 9/11 families on hacking probe
Families of victims of the 9/11 attacks are expected to meet with top Justice Department officials Wednesday to discuss whether any of their relatives' phone messages were hacked by employees of News Corp.

National Journal: Contra Boehner, Business Economists Favor Some Tax Hikes
Want a textbook example of Washington spin at its fiercest? Check out this press release from House Speaker John Boehner’s office this week, proclaiming: “Majority of economists say spending cuts needed to reduce deficit, not tax hikes.” Punchy headline. Convenient harmony with Republicans’ anti-tax message. Also, not true.

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

CNN: Engineers to check Washington Monument after strong earthquake
Engineers will determine the best way to repair cracks on the Washington Monument Wednesday, a day after a 5.8-magnitude temblor hit the area. The quake struck about 40 miles northwest of Richmond, Virginia but it was felt from Georgia to northern New England.

CNN: Irene whips Turks and Caicos and southern Bahamas, U.S. next
Conditions rapidly deteriorated in the southeastern Bahamas early Wednesday as Hurricane Irene approached on a path that will rake the island chain before heading toward the United States, the National Hurricane Center said.

New York Times: License Access in New Mexico Is Heated Issue
No issue is more heated in New Mexico these days than that of driver’s licenses. There are street protests and angry debates over the airwaves. Lawyers will soon be clashing over the question in court.

CNN: Report: Private firms still selling unsuitable insurance to troops
Five years after a law to protect U.S. military personnel from salespeople selling life insurance, a new Pentagon report finds problems continue. The Inspector General found that insurance agents used prohibited sales practices both on and off U.S. military bases to persuade personnel to buy insurance they may not need or be able to afford.

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

CNN: Despite seize of Gadhafi complex, regime says it can fight for years
Claiming rebels controlled 90% of the country and were days away from "a new Libya," the rebel government said it is planning to move many of its key ministries to the Libyan capital of Tripoli on Wednesday. But Libyan ruler Moammar Gadhafi's regime slammed the notion that the battle was over.

Financial Times: Moody's downgrades Japan's debt rating
Moody's has cut Japan's credit rating by one notch citing concerns about the government's ability to reduce its mountain of debt and implement long-term fiscal sustainability measures.

CNN: Many relieved, others outraged, that DSK rape charges dropped
When the news first broke in May that former French finance minister Dominique Strauss-Kahn had been accused of raping a hotel maid in New York, shocked French politicians immediately suspected a trap.

CNN: Signs of a thaw as India corruption fast enters 9th day
Anti-corruption activists and federal ministers have begun negotiations to end their deadlock over an anti-corruption bill as a 74-year-old campaigner's hunger strike entered its ninth day Wednesday.

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

CNNMoney: Stocks in rally mode
U.S. stocks posted major advances on Tuesday, following a report from the FDIC that showed the number of failing banks shrank for the first time in nearly five years. Stocks were also lifted by a surge in the price of oil, which rose more than 2% - helping to boost the energy sector, most notably Exxon Mobil and Chevron.

Wall Street Journal: Sprint to Get iPhone 5
Sprint Nextel Corp. will begin selling the new version of the Apple iPhone in mid-October, people familiar with the matter said, filling a huge hole in the No. 3 U.S. carrier's lineup and giving Apple Inc. another sales channel for its popular gadget.

Reuters: Some Gold Bulls Say Time to Cash In, Rally Overdone
As gold prices near $2,000 an ounce, some bulls say its time take money off the table after the safe-haven rally extended too far too fast in recent weeks. Gold investors at several firms said that gold prices could correct sharply, citing overvaluation.

In Case You Missed It…
CNN's Matthew Chance is one of many journalists held by pro-Gadhafi forces in a hotel in Tripoli.
http://www.cnn.com/video/#/video/world/2011/08/23/ac.chance.libya.trapped.cnn


Filed under: Political Hot Topics
soundoff (5 Responses)
  1. T'sah from Virginia

    CNNMoney: Economists: Fed should stay put for now
    Economists say different things and hardly ever agree and raise many eyebrows!

    Bloomberg: He ‘Didn’t Come to Explain a Damn Thing’: Biden
    What is there to explain – because of US, China has WIDEN!!

    CNN: Justice Department to brief 9/11 families on hacking probe
    It’s a shame how tragedy is used for some personal gain and

    National Journal: Contra Boehner, Business Economists Favor Some Tax Hikes
    Twisted MINDS bring twisted NEWS and Boehner will protect the rich with all of his might!

    Off to work ☺ HAVE A NICE DAY!!!

    August 24, 2011 06:36 am at 6:36 am |
  2. Name king

    Lesson these repugs don't give a dam about America success. They stop every effort that dems makes to carrel big businesses from outsourcing jobs to china, screaming capitalism. They screams that big businesses are being taxed too much, until we found out that 35 percent of corporations doesnt pay a dime in taxes. They scream that over regulations are killing jobs, but when Obama want to cut regulations they vow to stop it in congress. The president chief over jobs in America," General Electric CO Emmo" company is moving some jobs to china. Here comes the repugs blaming Obama for what general electric is doing. These are the same folks that chastised Obama because he told the insurance companies that a certain percent of their earnings need to go back to consumers screaming socialist. The thing that these repugs have to understand, is that they cannot fight on both side of the fence. You either want the government to regulate these companies bringing jobs over seas, "Which you guys have fought
    passionately" or you allow these businesses to do what they please unregulated, and go where ever they want and what ever they want to do. Emmo have no power against GE board of trustees and he certainly doesn't have any power against their greedy share holders. You repugs will find out that your push for unregulated corporate juggernauts will build china into a super power that makes America looks like a scary cat.

    August 24, 2011 07:38 am at 7:38 am |
  3. Elaine

    It seems very disingenuous for Republicans to constantly talk about paying down the deficit;but not be willing to raise any revenue , even through closing tax loopholes.The majority of the business economists surveyed think that the best solution is a combination of spending cuts, and adding revenue; the same proposal that the president suggested during the debt ceiling debate, and Boehner rejected.The economists also refuted another favorite Republican talking point:"Regulation is holding back the job creators". Those surveyed actually thought that regulation isgood .If what is being reported in the media is true, as to the president's upcoming speech in September- that he will make another attempt to get a combination of spending cuts and revenue package to pay down the deficit-it would be smart for Mr. Boehner to agree to it, and drop the political shenanigans.

    August 24, 2011 08:18 am at 8:18 am |
  4. T'sah from Virginia

    oops – forgot to finish a line...
    It’s a shame how tragedy is used for some personal gain, and the criminals should be exposed!!

    I guess that will work ... :-) ... Shhh, at work!!

    August 24, 2011 09:20 am at 9:20 am |
  5. GI Joe

    This is no longer a country for, of, and by the people.

    It's now for, of, and by corporations (protected by republicans who will ruin the entire nation to buy their way back into the whitehouse). They should ALL be ashamed.

    August 24, 2011 10:29 am at 10:29 am |