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Politics

Betsy DeVos testifies before the Senate Health, Education and Labor Committee confirmation hearing on January 17, 2017. (Photo: Reuters)

Betsy DeVos testifies before the Senate Health, Education and Labor Committee confirmation hearing on January 17, 2017. (Photo: Reuters)

UPDATE: The Senate early Friday broke a Democratic filibuster blocking the confirmation of Betsy DeVos as the next education secretary, voting 52-48.

Senate Republicans early Friday moved to break the Democratic filibuster attempting to block the confirmation of Betsy DeVos as education secretary. Democrats have sought to block Mrs. DeVos, as well as nearly all of President Donald J. Trump’s Cabinet members in an unprecedented obstruction that has caused the breakdown of etiquette and rules in the U.S. Senate.

Republicans Senate chairman suspended rules after Democratic members boycotted committee votes on the nominations of Jeff Sessions, Scott Pruitt, Steve Mnuchin and others. However, DeVos is the only Cabinet pick who is in danger of not eventually being confirmed due to party defections.

DeVos is a school-choice champion, education advocate and philanthropist, who has pushed for national education reform for more than two decades. The Michigan native spent more than two decades helping unprivileged children gain quality education and served as the chairwoman of the American Federation for Children.

The group’s stated mission is to “improve our nation’s K-12 education by advancing systemic and sustainable public policy that empowers parents, particularly those in low-income families, to choose the education they determine is best for their children.”

But this week Sens. Lisa Murkowski, R-Alaska, and Susan Collins, R-Maine, both announced they would not vote to confirm DeVos, putting her confirmation in peril. While the official statement from the senators claimed to have concern over her experience, they are heavily funded by teachers’ unions, who are vehemently opposed to her nomination.

“The president-elect, in his selection of Betsy DeVos, has chosen the most ideological, anti-public education nominee put forward since President Carter created a Cabinet-level Department of Education,” American Federation of Teachers (AFT) President Randi Weingarten said in a statement. “In nominating DeVos, Trump makes it loud and clear that his education policy will focus on privatizing, defunding and destroying public education in America.”

Vice President Mike Pence will serve as the tie-breaking vote when the nomination goes to the full Senate, after every single Democrat announced they would also vote not to confirm.

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Senate Republicans early Friday will move to

World

2016: An armed French soldier patrols at the Louvre Museum in Paris (Photo: Reuters)

2016: An armed French soldier patrols at the Louvre Museum in Paris (Photo: Reuters)

A French soldier opened fire Friday outside the Louvre Museum in Paris, France after he was attacked by a man with a machete shouting “Allahu akhbar.” While the details of his injuries are unknown, the solider was slightly wounded during the attack.

The attacker was carrying 2 backpacks, but neither of them were filled with explosives. Though authorities say they believe the suspect acted alone, Reuters reported that a second person had been detained in connection with the attack.

“We are dealing with an attack from an individual who was clearly aggressive and represented a direct threat, and whose comments lead us to believe that he wished to carry out a terrorist incident,” Michel Cadot, the head of the police force, said.

Reuters reported that the head of police said authorities believe the suspect wanted to carry out a terror attack. A police official said the soldier responded with five shots, adding the suspect was in grave condition.

“The soldier fired five bullets,” Cadot said. “It was an attack by a person who represented a direct threat and whose actions suggested a terrorist context.”

Soldiers on patrol are part of security measures that have beefed-up in the wake of terror attacks in France in 2015 and 2016. A series of attacks over the past two years that have killed more than 230 people, which have been claimed by the Islamic State.

The most recent deadly attack took place in the southern city of Nice when a man drove a truck into a crowd on the seafront killing 86, while the deadliest was carried out by an Islamist who traveled to France posing as a Syrian refugee.

The French Interior Ministry tweeted that a serious security incident is taking place at museum. Police have reportedly cordoned off access to the museum.

The museum in the center of Paris is one of the French capital’s biggest tourist attractions.

A spokewoman for the museum told The Telegraph that it was “closed for the moment” but would not confirm reports it had been evacuated.

A French soldier opened fire Friday outside

Policy

House Speaker Paul Ryan of Wisconsin and others listen as Senate Majority Leader Mitch McConnell of Kentucky speaks on Capitol Hill in Washington on Dec. 8, 2016.

House Speaker Paul Ryan of Wisconsin and others listen as Senate Majority Leader Mitch McConnell of Kentucky speaks on Capitol Hill in Washington on Dec. 8, 2016.

House Republicans, as part of a generally laudable tax reform plan, want to replace the corporate income tax with a “destination-based cash-flow tax.”

I’ve addressed that topic a couple of times.

  • Left-leaning advocates like “destination-based” tax systems such as the DBCFT because such systems undermine tax competition and give politicians more ability to increase tax rates.
  • The “border adjustability” in the plan is contrary to the rules of the World Trade Organization (WTO) and there’s a significant risk that politicians might try to “fix” the plan by turning it into a value-added tax.
  • In theory, the import tax in the DBCFT is not necessarily protectionist, but the machinations of to justify that assertion, combined with the conflict it creates in the business community, undermine the consensus for reform.

I had a chance to speak about the DBCFT to a gathering put on by the Washington International Trade Association. I hit on all my main reasons for being worried about the border adjustable provisions.

For those who want additional information, I was preceded on the panel by Gordon Gray of the American Action Forum and followed by John Veroneau of Covington and Burling (and formerly with the Office of U.S. Trade Representative). You can watch the entire event by clicking here.

Regarding my remarks, I think the most relevant thing I said was when I shared new data from the Congressional Budget Office and pointed out that we can simultaneously balance the budget within 10 years and have a $3 trillion tax cut if politicians simply exercise a modest bit of spending restraint and limit annual budget increases to 1.96 per year.

And the most important thing that I said was when I warned that proponents of good policy should never do anything that might create the conditions for a value-added tax in the United States. Some people say the most important rule to remember is to never feed gremlins after midnight, but I think it’s even more important not to give politicians a new source of revenue.

Unless, of course, you want bigger government and more red ink.

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House Republicans, as part of a generally

Politics

President Donald J. Trump, center, sits to the left of Vice President Mike Pence, to the right of Homeland Security Secretary John F. Kelly, while holding up an executive order to build border wall and fulfill other campaign promises related to immigration. The orders were signed at the U.S. Department of Homeland Security on Wednesday, Jan. 25, 2017 in Washington. (Photo: AP)

President Donald J. Trump, center, sits to the left of Vice President Mike Pence, to the right of Homeland Security Secretary John F. Kelly, while holding up an executive order to build border wall and fulfill other campaign promises related to immigration. The orders were signed at the U.S. Department of Homeland Security on Wednesday, Jan. 25, 2017 in Washington. (Photo: AP)

Retired four-star Marine Gen. John Kelly, the secretary of Homeland Security (DHS), said he aims to have the southern border wall finished in two years. Secretary Kelly made the comments during an interview with Fox News, his first on television as Homeland Security secretary.

“The wall will be built where it’s needed first, and then it will be filled in. That’s the way I look at it,” Secretary Kelly said. “I really hope to have it done within the next two years.”

Mr. Kelly traveled to McAllen, Texas, on Wednesday to visit Border Patrol agents and witness their challenges with illegal immigration. The Rio Grande Valley, which has become known as the “RGV sector,” is one of the most-used areas for illegal border crossings. On any given day, Border Patrol agents pick up at least 600 people who have crossed the Mexican border, entering the U.S. illegally.

He said the physical wall will work hand-in-hand with technology-based measures, specifically calling it a “layered approach” to securing the border. He also repeated the president’s claim that DHS officials already “have the authority” under existing law to built the wall. In 2006, Congress passed a border security measure funding and authorizing the border wall, which prominent Democrats actually voted in favor to approve.

“Any discussion about the protection of our southwest border involves discussion of physical barriers but also of technological sensors, things like that,” he said. “But it’s a layered approach, and it’s got to be backed up by great men and women who are going to make sure that the wall is intact.”

Secretary Kelly also told Fox News what his wife said when President Trump offered him the role in the administration.

“She said, ‘take it, your whole life, our whole life, the Kelly family is a life of service.’”

Retired four-star Marine Gen. John Kelly, the

Entertainment, News

Actor Matthew McConaughey has called for Hollywood celebrities and leftwing protestors who oppose him to get behind President Donald J. Trump and give him a chance.

“They (citizens) don’t have a choice now,” the “Gold” actor said. “He’s our president. And as divisive of a time and Inauguration as we’ve had, at the same time, it’s time for us to embrace. Shake hands with this fact, be constructive with him over the next four years. Even those who most strongly disagree with his principals or things he’s said or done, which is another thing, we’ll see what he does compared to what he has said, no matter how much you disagreed along the way, it’s time to think how constructive can you be.”

Hollywood has used award ceremonies to trash the new president and several celebrities attended what turned into violent rallies to protest President Trump. As a result, ratings have plummeted.

Matthew McConaughey called for Hollywood celebrities and

Politics

Former Exxon Mobil CEO Rex Tillerson testifies during his Senate confirmation hearing. (Photo: Reuters)

Former Exxon Mobil CEO Rex Tillerson testifies during his Senate confirmation hearing. (Photo: Reuters)

The U.S. Senate voted 56-43 to confirm former ExxonMobil CEO Rex Tillerson as Secretary of State under the Trump Administration.

Democrats and a few Republican senators wanted assurances Mr. Tillerson, given his history with Moscow, would not be soft on Russian President Vladimir Putin.

However, both Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., made clear they would support the former Exxon Mobil CEO, leaving only Mr. Rubio as the remaining holdout. Then, last Monday, Sen. Marco Rubio, R-Fla., the final remaining holdout in the president’s own party, announced he would vote to confirm Mr. Tillerson.

In 2013, Mr. Putin bestowed the Order of Friendship on Mr. Tillerson, a native of Wichita Falls, Texas. Mr. Tillerson began at Exxon Mobil as a production engineer out of the University of Texas at Austin in 1975 and went on to succeed former CEO Lee Raymond. Under his leadership, Exxon Mobil’s profits helped to make it the most valuable publicly traded company in the world.

The U.S. Senate voted 56-43 to confirm

News, US

An F-16 Fighting Falcon takes off for a training sortie over the White Sands Missile Range's 10,000 square mile range at Holloman Air force Base, N.M., Aug. 5.

An F-16 Fighting Falcon takes off for a training sortie over the White Sands Missile Range’s 10,000 square mile range at Holloman Air force Base, N.M., Aug. 5.

Two F-16 Fighting Falcon jets hit two members of a ground-control party–killing one, and wounding one– during a training exercise Tuesday night, officials said in a Wednesday statement.

The F-16 fighter jets were using unidentified munitions when the accident happened at the White Sands Missile Range complex near Holloman Air Force Base in southern New Mexico. The members of a ground-control are controllers who provide guidance to the military aircraft, including fighters attacking ground targets.

The one who was injured was released from a hospital after being treated for injuries, the statement said omitting their nature. Neither of the ground-control members’ identities nor the pilots were released by the government, but officials said the incident is currently under investigation.

The statement said the aircraft are based at Holloman but belong to a unit, the 54th Fighter Group, that is part of the 56th Fighter Wing headquartered at Luke Air Force Base in Glendale, Arizona.

The F-16 first became operational in the late 1970s and is a multi-role fighter that can drop bombs, fire missiles and shoot cannon shells in missions that can include aerial combat and attacking ground targets. There are one- and two-seat versions.

Two F-16 Fighting Falcon jets hit two

Politics

Sen. Jeff Sessions, R-Ala. is sworn in on Capitol Hill in Washington, Tuesday, Jan. 10, 2017, prior to testifying at his confirmation hearing for attorney general before the Senate Judiciary Committee.

Sen. Jeff Sessions, R-Ala. is sworn in on Capitol Hill in Washington, Tuesday, Jan. 10, 2017, prior to testifying at his confirmation hearing for attorney general before the Senate Judiciary Committee.

The Senate Judiciary Committee cleared Alabama Sen. Jeff Sessions for the post of attorney general and will now be taken up by the full U.S. Senate. The committee vote comes after Senate Democrats, appeasing the far-left wing of their party, sought to drag out proceedings and even boycotted the vote that took place today a day earlier.

“No doubt we have the votes,” said Sen. Mike Lee, R.Utah, a conservative member of the committee and Sessions ally. “It’s going to get done.”

The Republicans earlier ran around Senate Democrats’ after they boycotted hearings for two other of President Trump’s nominees. Steve Mnuchin, the nominee for secretary of the U.S. Treasury Department, and Rep. Tom Price, R-Ga., the nominee for the Department of Health and Human Services, were also supposed to get a committee vote Tuesday.

Senate Finance Committee Chairman Orrin Hatch, R-Utah, suspended committee rules on the number of members required to vote, which permitted a vote. Sen. Hatch on Tuesday called the Democratic boycott “the most pathetic thing.”

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“We took some unprecedented actions today due to the unprecedented obstruction on the part of our colleagues,” he added on Wednesday.

In an 11-9 vote, the Senate Judiciary

Economy

home-foreclosures

National and State Mortgage Risk Indices are tracked and released by AEI’s International Center on Housing Risk.

The National Mortgage Risk Index (NMRI) stood at 12.2% in October, down 0.1% from a year earlier and up 0.2% from September 2016. While the year-over-year credit easing trend has slowed, the level remains high and the trend appears poised to reverse. The FHA’s first-time buyer NMRI set a series’ high at 25.0%, up 1.2% from a year earlier.

“The FHA hit a dubious milestone this month as First-Time Buyers using FHA had a Mortgage Risk Index of 25%, up from 21% in 2013,” said Edward Pinto, codirector of the Center, former executive vice president and chief credit officer for Fannie Mae. “Helping fuel this increase was the 47% of First-Time Buyers with a total pre-tax debt-to-income ratio in excess of 43%.”

Loan demand continued to gain with Agency purchase loan volume increasing 12% and 19% from October 2015 and 2014, respectively. The increase in volume is largely fueled by looser lending standards and an improving labor market.

The NMRI measures how government-guaranteed loans with an origination in a given month would perform if subjected to the same stress as in the financial crisis that began in 2007. An NMRI of 10% for a given set of loans indicates 10% of those loans would be expected to default under severe stress. The index, is based on the actual performance of loans with the same risk characteristics after the financial crisis and covers over 24.6 million Agency loans dating back to September 2012.

Published monthly, the NMRI is comprised of over 11.2 million Agency purchase loans and over 13.4 million Agency refinance loans. Nonbanks continue to represent a rising share of the market, which increases riskiness and continues to widen.

“As mortgage rates normalize, risk will likely start to rise again as agencies, foremost FHA, will accommodate cash-strapped borrowers by raising their debt-to-income ratios,” said Tobias Peter, senior research analyst of AEI’s International Center on Housing Risk.

The National Mortgage Risk Index (NMRI) stood

News

[brid video=”110215″ player=”2077″ title=”SCOTUS Pick Neil Gorsuch Has &#39Impeccable Legal Credentials&#39 Morning Joe MSNBC”]

On MSNBC “Morning Joe,” the panel praised President Donald J. Trump over the rollout and decision to nominate Judge Neil Gorsuch to the Supreme Court. Joe Scarborough said President “Trump hit it out of the park” during the ceremony and with his selection of who to replace the late Justice Antonin Scalia on the Supreme Court.

“Even networks who have been openly hostile towards him are talking about how this was an extremely successful rollout,” Joe said.

“I think it was in his sweet spot,” Mika added. “This is what he does.”

“As you know, more than any other issue, for most of the people voting in the Republican primary… It is about the Supreme Court,” Joe added. “The Never-Trumpers? A few less Never-Trumpers this morning.”

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On MSNBC "Morning Joe," the panel praised

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