Fears that the euro crisis will cross the Atlantic have started to ease after European leaders took precautions to stave off default in Greece and shore up other ailing economies. “In the past few months, financial stresses in Europe have lessened, which has contributed to an improved tone of financial markets around the world, including in the United States,” said Federal Reserve chair Ben Bernanke. Treasury Secretary Timothy Geithner agreed: “The European economies at the center of the crisis have made very significant progress.”
A new spin on the GOP race is hard to find as the chips fall into place for Mitt Romney to snag the nomination. There are only so many ways you can say Romney will win, and there’s only so far you can stretch the continuing credibility of the other three remaining GOP candidates. Some reporters and pundits have already begun to fantasize about the 2016 race, but there is still plenty to say about the general election. One surprising thing: This is gearing up to be the best campaign season for comedy since the salad days of the Bush years. In 2008, Sarah Palin was the saving grace in a contest between two politicians who defied easy comedic characterization.
Big states that are expensive to have a campaign presence in are up next in the GOP primary, and they aren't going to be too friendly to the candidates' dwindling coffers. Seven primaries were held in February, and the contenders drained their funds in order to perform well in the high-stakes contests: Romney spent over $12 million while raising $11.5 million; Santorum raised $9 million, but spent $7.6 million; and Newt Gingrich spent $1.5 million while raising $2.6 million.
It’s official: Primary fatigue has set in. Today’s contest in Illinois is the 28th primary or caucus so far, and just as the public reacted in groans after the 20th debate, folks are starting to tune out this Herman Cain and Rick Perry-less contest. We have our fond memories, of course—the Iowa caucuses dished up an exciting and tense start to the race, and the late-night culmination of Super Tuesday had its moments. But now even the suspense that kept us glued to every word Wolf Blitzer and Anderson Cooper uttered on primary nights is fading fast—the current Real Clear Politics average has Mitt Romney up by 10 percentage points in Illinois.
Representative Paul Ryan, chair of the House Budget Committee, plans to unveil his 2013 budget plan this morning, much to the excitement of Democrats and to the chagrin of Republicans, who remember how last year's budget negotiations turned out for them (not well). Although the details of the plan have yet to be released, changes to the tax code and Medicare will be the proposal's big-ticket items.