Mitt Romney’s running mate, Rep. Paul Ryan (R-WI), criticized the Federal Reserve’s latest action intended to spur the economy Saturday, saying that it amounted to a ‘bailout’ of the economy for President Obama.
Speaking at a campaign event in Florida, Ryan said the Fed’s decision to take further action signaled that Obama’s economic policies had not worked adequately. Since the Fed had to take stronger action, he said, it was essentially as if they were bailing out Obama and paying for his mistakes.
“We heard that the Federal Reserve is coming with a new bailout,” Ryan said. “This matters. So the Federal Reserve is basically saying that we don’t have a recovery. Obamanomics didn’t work.”
On Thursday, the Federal Reserve announced a new round of quantitative easing, a program under which the central bank buys up billions of dollars of mortgage-backed securities to thrust more money into circulation. That announcement came one week after the latest jobs report showed lower-than-expected job growth in August, an indication that the economic recovery may be slowing. Yet in a change from the past two rounds of quantitative easing, the Fed indicated that it would not cap the number of purchases it makes, instead opting to continue the process indefinitely until the economy picks up.
Critics of the decision argued that it would lead to inflation that would do enough long term harm to offset any benefits from an immediate cash infusion. And Ryan, who has previously criticized the Federal Reserve for taking aggressive actions to stimulate the economy, reitereated that position on Saturday, calling the latest action “insidious.”
“We don’t need sugar high economics. We don’t need synthetic money creation,” Ryan said. “We need economic growth. We want wealth creation. We don’t want to print money. We want opportunity and growth. And when they do this to our money, it undermines the credibility of our money.”
Here are 7 wild, bizarre and pathetic moments from Trump’s ‘campaign launch’
On Tuesday night, President Donald Trump held a rally that was billed as the official launch his re-election campaign — though he has never really stopped holding campaign rallies.
As expected, the president ranted, lied, and engaged in the raucous attacks that are central to his connection with Republican voters. Some of it was actually just sad, such as his continued obsession with Hillary Clinton.
Here are seven of the wildest, disturbing and pathetic moments from the rally:
1. He said Democrats "want to destroy our country as we know it."
Trump casually accuses Democrats of "want[ing] to destroy you and they want to destroy our country as we know it." pic.twitter.com/4K79KlbEeR
British PM candidates clash over Brexit as Boris Johnson skips debate
Candidates to become Britain's next prime minister clashed over Brexit strategy at their first debate on Sunday but the frontrunner, Boris Johnson, dodged the confrontation.
The 90-minute debate on Channel 4 featured the five remaining candidates and an empty podium for Johnson, the gaffe-prone former foreign secretary and former mayor of London.
In sometimes ill-tempered exchanges, four of the five candidates said they would seek to renegotiate the draft Brexit divorce deal agreed with Brussels even though EU leaders have repeatedly ruled this out.
Michael Cohen ordered back to Congress on March 6
President Donald Trump's so-called "fixer" is being asked to return to Congress for more questioning on March 6.
Outside of the closed-door committee hearing Thursday, Cohen said that the House Intelligence Committee is seeking further information, according to Washington Examiner writer Byron York.
Michael Cohen finished closed-door testimony before House Intel Committee, says he's coming back for another session March 6. Again: No reason for secrecy. Transcripts should be released ASAP.
— Byron York (@ByronYork) February 28, 2019