Fears that the global economy could be slipping back toward recession sent markets plummeting, with worldwide economic and financial problems fueling a vicious cycle that risks spiraling beyond control of governments.
President Obama’s team is pushing back hard against criticism of his handling of the economy, and aides are forming lines of attack against potential GOP opponents. But the administration Thursday had difficulty explaining its plans for turning around the economy.
Secretary of Defense Panetta warned against the massive defense cuts that could kick in under the sequestration provision of the debt ceiling deal. Obama is opening the revolving door once again for his new nominee for Deputy SecDef.
American money is helping fund a Palestinian Authority program to spend more than $5 million per month in salaries for 5,500 convicted and alleged terrorists imprisoned in Israel.
A murky $1 million donation to a pro-Mitt Romney committee has reignited a debate over transparency in politics, according to the Washington Post. Jon Huntsman is struggling to get rolling in New Hampshire. Tim Pawlenty says global warming is due mainly to natural causes.
If Rick Perry gets in the campaign, it could be bad news for Karl Rove.
Obama today will push tax credits for hiring veterans.
And Obama’s Rose Garden birthday party was mostly friends but also included politicians and glitterati like Stevie Wonder, Tom Hanks, Whoopi Goldberg, Charles Barkley, Grant Hill, Emmitt Smith.