The Debt Ceiling and the 2012 Presidential Playing Field
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The debt-ceiling debate is over, but tax increases and defense spending will be back on Washington's agenda as soon as Thanksgiving. We hear what past and future debates could mean for next year's presidential campaign. Also, the Dow is headed for longest losing streak since 1978. On Reporter's Notebook, six months ago, Hosni Mubarak was the ruler of the Arab world’s biggest country. Today, while millions watched the proceedings on TV, he went on trial for his life in a Cairo courtroom.
Banner image: Minnesota Congresswoman Michele Bachmann (L) and former Utah Governor Jon Huntsman (R) are two of the leading Republicans vying for the 2012 presidential nomination against incumbent Barack Obama
Dow Jones Average Headed for Longest Losing Streak since 1978 ()
Despite reassurance that the US will pay its bills, the stock markets dropped yesterday and they're down again today. That could mean nine days of declines, the longest since February, 1978. Todd Wallack is business reporter for the Boston Globe.
- Todd Wallack: Boston Globe
The Debt Ceiling, the President and Next Year's Campaign ()
Republicans claim they made deficit reduction the price the President had to pay for increasing the debt ceiling so the US could pay its bills. Does that make Barack Obama look like a weak leader? Did he give up too much to hold on to his base or the right amount to appeal to centrist voters? Tea-Party favorite Michele Bachmann opposed any debt-ceiling increase; moderate Jon Huntsman said one was needed. Other GOP presidential contenders had little to say while the debate was on, but now that it's over, Mitt Romney calls it a bad deal. Rick Perry, who's not yet announced, is still silent. What does that tell us about how Republican nomination campaign is shaping up? Will the new bipartisan "super committee" roil the political waters all over again? Will Tea Partiers be able to extend their influence from Congress to the race for the White House?
Egypt's President Goes on Trial ()
Egypt's former President Hosni Mubarak was last seen in public when he appeared on television in February, vowing not to step down after three decades in power. Today, during another televised proceeding, he was wheeled on a gurney into a Cairo courtroom, healthy enough to firmly deny charges that could lead to his execution. Egyptians are said to be awestruck by the televised spectacle. Leila Fadel is Cairo Bureau chief for the Washington Post.
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