Political Capital
Ford trucks at a dealership in Colma, California.

Photograph by Justin Sullivan/Getty Images

Ford trucks at a dealership in Colma, California.

Detroit Automakers Offer More Octane for Economy

The most aggressive economic stimulus in the Federal Reserve’s 100-year history has the wheels turning for Detroit automakers. Cheaper borrowing costs and rising stock portfolio values are giving Americans the confidence to make big-ticket purchases. It’s welcome news for a...

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Sen. Jay Rockefeller, D-W. Va., arrives in the Senate Reception Room before the 'Vote-A-Rama' on amendments to the budget resolution on March 22, 2013.

Photograph by Bill Clark/CQ Roll Call/Getty Images

Sen. Jay Rockefeller, D-W. Va., arrives in the Senate Reception Room before the 'Vote-A-Rama' on amendments to the budget resolution on March 22, 2013.

Rockefeller, Kerkorian Help DSCC Raise $3.54 Million

Sen. Jay Rockefeller isn’t seeking re-election next year, though the wealthy West Virginia Democrat is still using some of his personal fortune to help his party’s prospects in the midterm election. Rockefeller donated the maximum $32,400 to the Democratic Senatorial...

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New Jersey Sen. Barbara Buono greets supporters on Feb. 2, 2013, as she officially kicks off her campaign for New Jersey governor with a rally in New Brunswick.

Photograph by Mel Evans/AP Photo

New Jersey Sen. Barbara Buono greets supporters on Feb. 2, 2013, as she officially kicks off her campaign for New Jersey governor with a rally in New Brunswick.

Buono Hits Christie With First TV Ad in New Jersey Race

Barbara Buono, the New Jersey Democrat waging a long-shot campaign to unseat Gov. Chris Christie, will launch her first television ad this week as she seeks to compete with the popular and well-funded Republican. Buono, 59, will spend over $1...

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Graduating students listen as President Barack Obama delivers the commencement address at Morehouse College on May 19, 2013 in Atlanta, Georgia.

Photograph by Mandel Ngan/AFP via Getty Images

Graduating students listen as President Barack Obama delivers the commencement address at Morehouse College on May 19, 2013 in Atlanta, Georgia.

Student Spending’s First Drop Since 1977

By Oliver Staley Public spending per student on U.S. education fell in fiscal 2011, the first annual decline since at least 1977, as tax revenue dried up. The U.S. spent an average $10,560 per student in public schools in 2011,...

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The National Debt Clock and an estimate of the Untied States' national debt, as well as an estimate of each family's share of that amount, on Dec. 31, 2012, in New York City.

Photograph by Justin Lane/EPA/Corbis

The National Debt Clock and an estimate of the Untied States' national debt, as well as an estimate of each family's share of that amount, on Dec. 31, 2012, in New York City.

Bloomberg by the Numbers: $16.699 Trillion

That’s the U.S. debt ceiling as of Monday, according to the Treasury Department. It’s the first number the Treasury has released since President Barack Obama signed a suspension of the limit in early February, Bloomberg’s Ian Katz and Kasia Klimasinska report....

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Senator Rand Paul, a Republican from Kentucky, questions a witness during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., on May 21, 2013. Apple Inc. Chief Executive Officer Tim Cook defended his company's use of offshore tax shelters before U.S. senators who castigated the most-valuable technology company for avoiding $9 billion and more in payments.

Photograph by Pete Marovich/Bloomberg

Senator Rand Paul, a Republican from Kentucky, questions a witness during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., on May 21, 2013. Apple Inc. Chief Executive Officer Tim Cook defended his company's use of offshore tax shelters before U.S. senators who castigated the most-valuable technology company for avoiding $9 billion and more in payments.

Paul Echoes White House in Opposition to Arming Syrians

A small corner of hell may be freezing over. Sen. Rand Paul, the Kentucky Republican and fierce Obama administration critic, today opposed a bill to provide arms to Syrian rebels with an argument that could have come straight from the...

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Acting IRS Commissioner Steven Miller, left, and former IRS Commissioner Douglas Shulman confer during a break in testimony before the Senate Finance Committee May 21, 2013 in Washington, DC.

Photograph by Win McNamee/Getty Images

Acting IRS Commissioner Steven Miller, left, and former IRS Commissioner Douglas Shulman confer during a break in testimony before the Senate Finance Committee May 21, 2013 in Washington, DC.

Watchdog Group Files Second Lawsuit Against IRS

Citizens for Responsibility and Ethics in Washington has again sued the Internal Revenue Service over its regulation of nonprofits incorporated under Section 501(c)(4) of the tax code. The watchdog group is asking the U.S. District Court to direct the IRS to draft...

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IRS protesters on May 21, 2013 in West Palm Beach, Florida. Tea Party activists organized the protest against the Internal Revenue Service saying they improperly targeted conservative groups seeking tax-exempt status.

Photograph by Joe Raedle/Getty Images

IRS protesters on May 21, 2013 in West Palm Beach, Florida. Tea Party activists organized the protest against the Internal Revenue Service saying they improperly targeted conservative groups seeking tax-exempt status.

IRS Was Wrong to Target Tea Party Groups, ABC-Post Poll Shows

Almost three-fourths of Americans think it was “inappropriate” for the Internal Revenue Service to target Tea Party groups for extra scrutiny, according to an ABC News/Washington Post poll out today. A majority of respondents said the government was harassing those organizations. The survey of 1,001...

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A customer using a credit card at a gas station in Miami, Florida.

Photograph by Joe Raedle/Getty Images

A customer using a credit card at a gas station in Miami, Florida.

Deflation Scare Put on Temporary Hold

Concern over disinflation and deflation will probably be put on hold in coming months as commodity prices stabilize, according to economists at Jefferies & Co. in New York. They also contend it will be too soon for Americans to let...

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