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Geithner presses China on currency reform
Law & Politics | 2010/10/06 14:42

Treasury Secretary Timothy Geithner stepped up pressure on China to make more progress in moving toward flexible exchange rates.

Geithner said Wednesday that it is particularly important to see appreciation in countries where the currency is significantly undervalued. Geithner never mentioned China, but the speech was clearly aimed at the world's second-largest economy.

U.S. manufacturers contend that the Chinese yuan is undervalued by as much as 40 percent, giving Chinese companies a significant competitive advantage. Geithner's comments came in advance of upcoming global finance meetings.

Geithner said the problem was that when large economies kept their currency undervalued, it encouraged other nations to do the same.

"The collective impact of this behavior risks either causing inflation and asset bubbles in emerging economies or else depressing consumption growth," Geithner said.

Geithner's remarks came in a speech at the Brookings Institution where he previewed the U.S. goals for upcoming meetings of the 187-nation International Monetary Fund and its sister lending institution, the World Bank.

In addition to those talks, which begin Friday, finance officials of the Group of 20 major economies are scheduled to meet on the sidelines. The G-20 nations includes the world's richest nations plus major emerging countries such as China and Brazil.

U.S. officials said they will push the G-20 nations to honor commitments made a year ago in Pittsburgh to work to rebalance the global economy. Doing so would promote more sustainable growth and avoid a repeat of the severe recession.



Survey: Latinos still strongly support Democrats
Law & Politics | 2010/10/05 09:02

In a year when Democrats are struggling to energize supporters, Hispanic voters appear significantly less motivated than the rest of the U.S. to cast election ballots even though two-thirds of Latino registered voters say they'll vote Democratic in their congressional race, a Pew Hispanic Center study found.

The center's national survey, released Tuesday, found 51 percent of Latino registered voters were absolutely certain they would vote — compared with 70 percent of U.S. voters — and 65 percent of Latino voters planned to support the Democrat in their congressional district, compared with 47 percent of U.S. voters.

They are pledging that support even though only 26 percent of the voters said the policies of President Barack Obama's administration have helped Latinos. Thirteen percent said the administration's policies hurt Latinos, while 51 percent said they had no effect.

"The Latino vote appears to continue to strongly identify with the Democratic Party," said Mark Lope, Pew Hispanic Center's associate director.

A 51 percent Latino voter turnout would be a slight increase in turnout over 2008. But midterm turnout for all voters generally is lower than in presidential years. In 2006, about 32 percent of eligible Latino voters showed up at the polls.



Obama to stump for Sestak in Philadelphia
Law & Politics | 2010/09/20 15:29

President Barack Obama heads to Pennsylvania on Monday to raise money for Democratic Senate candidate Joe Sestak, who is locked in a tight race for a seat considered a must-win for the president's party.

Democrats know that Sestak's chances of winning depend heavily on the party's ability to ramp up voter turnout in cities like Philadelphia. With six weeks until the midterm elections, Obama is trying to fire up the party's base, urging the first-time voters that helped him win the White House in 2008 to head back to the polls in November.

"I need everybody here to go back to your neighborhoods, and your workplaces, to your churches, and barbershops, and beauty shops," Obama told a Congressional Black Caucus dinner Saturday night. "Tell them we have more work to do. Tell them we can't wait to organize. Tell them that the time for action is now."

The relationship between the White House and Sestak has been a rocky one. Obama backed longtime Republican-turned-Democratic Sen. Arlen Specter in the primary contest that Sestak won earlier this year. The White House had tried to get Sestak to drop his challenge to Specter by offering him an unpaid presidential advisory position, an offer Sestak rejected.

Obama carried Pennsylvania during his White House run, but two years later, voters are angry at the sluggish economic recovery and could take their frustrations out on Democrats in November's balloting. Democrats see the Pennsylvania Senate seat as one that could not only determine which party holds the Senate majority, but also which way the key swing state might lean in 2012.



Utah court rejects appeal from polygamous sect
Law & Politics | 2010/08/30 08:17

Utah's Supreme Court has rejected a petition from members of a southern Utah-based polygamous sect seeking a reversal of changes made to its communal land trust.

In a ruling issued Friday, justices say members of the Fundamentalist Church of Jesus Christ of Latter Day Saints waited too long to challenge the state's intervention in the United Effort Plan Trust.

Valued at $110 million, the trust holds the property in Hildale, Utah and Colorado City, Ariz., the twin border towns where most church members live.

Utah seized the trust in 2005 after allegations of mismanagement by church leaders. A court-appointed accountant has since converted the trust into a secular entity.

FLDS members consider state control of the UEP a violation of their religious rights.



Kaine: Don't politicize Michelle Obama's travels
Law & Politics | 2010/08/09 12:44

Democratic Party Chairman Tim Kaine is defending first lady Michelle Obama's vacation trip to Spain, saying critics of her travels are trying to politicize the issue.

Kaine tells NBC's "Today" show he thinks "it's wrong" to talk critically about her trips. Critics contend they send a poor message at a time when many Americans are out of work.

Kaine said, "She's a mom." He said this was an opportunity for her to take nine-year-old daughter Sasha to a part of the world she hadn't seen before.

Kaine said President Barack Obama and Michelle Obama are "focused on being good parents." Mrs. Obama returned with Sasha to the White House late Sunday. Her trip occurred as Obama was celebrating his 49th birthday and their other daughter, 12-year-old Malia, was away at summer camp.



Obama visits company as new job figures come out
Law & Politics | 2010/08/06 11:00

President Barack Obama will visit a small business and talk about job-creation Friday shortly after the government releases unemployment figures for July.

The president will tour the facilities of Gelberg Signs in the District of Columbia and publicly applaud efforts the company is making to expand and hire more workers.

Later, he'll host a reception at the White House for Elena Kagan, newly confirmed to become the next Supreme Court justice.

Friday's report on the nation's employment situation is expected to show that private companies added only 90,000 jobs in July, not nearly enough for healthy economic growth.



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