Tea Party Activists Revolt Against Boehner Amid Debt Crisis: As House Speaker John Boehner frantically pieces together a plan to rescue the nation from financial disaster next week, members of the Tea Party movement who helped propel Republicans back into power last fall are calling for his head. [I am sorry to see that Allen West has abandoned the conservatives in his own caucus to support a bill that, at last writing, eliminated a total of $1 billion, yes, $1 billion, form the 2012 budget. Is Allen now playing their game? – JS]
McCain: Tea Partiers Have Bad ‘Hobbit’ Of Not Supporting A Raise In Debt Ceiling: [This evening RINO John McCain is trying desperately to talk this back by saying he was only reading an editorial column. Listen to him. Make your own decision about him. As for me, while the Marine in me respects him for the patriot that he was and for his very honorable conduct while a prisoner of war, I am sorry to see him descend so far into the statist political morass! – JS]
The Fundamentals Do Not Currently Favor Obama's Reelection
Obama Says Phone Congress
The Commerce Department reported that durable-goods orders sank significantly in June, down 2.1% from May. It’s worse than April’s adjusted decline (-2.5%) and confirms the quarter as a net loser …
- In other bad news, inventories continue to swell, which will put a damper on further orders. In fact, inventories hit a new high…
- Businesses appear to be abandoning expansion, as nondefense new orders for capital goods in June dropped 4.1%…
- The bigger concern isn’t a “soft patch,” it’s a new recession. On Friday, Commerce will report the preliminary GDP growth rate for the second quarter. With the durable-goods orders series in Q2 at -2.5%, 1.9%, and -2.1%, there is a very good chance that the Friday number will be negative…
We Semper Fi a valiant Marine veteran “… who doesn’t put up with a whole lot of nothing.” A man who robbed a 72-year-old Texas business owner at gunpoint is dead after the owner, a Marine Corps veteran, jumped in his car and chased after him, ramming him against a metal fence.
To paraphrase Politico: it's not the default, it's the downgrade. ''(W)hat really haunts the administration is the very real prospect, stoked two weeks ago by Standard & Poor’s, that Barack Obama could go down in history as the president who presided over his country’s loss of its gold-plated, triple-A bond rating."
Obama’s Battleground-State Blues > The president’s national poll numbers aren’t good, but they’re worse in battleground states. His approval numbers have been trending down in recent national polls, but that’s not the really bad news for President Obama. As Hotline Executive Editor Josh Kraushaar notes, the presidential election is about winning enough states to gain a majority in the Electoral College. And in the big battleground states [OH, MI, IA, NH, PA & More], the president is trailing.
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