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Category Archive for ‘economy’ at Campaign Diaries
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Archive for the 'economy' Category


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The AIG fallout

House votes to tax bonuses

Congress is now in damage control mode over the AIG controversy. After spending a few weeks expressing their anger (in what, I recently argued, is to a large extent a hypocritical reaction), House members voted to impose a 90% tax on bonuses paid by any company accepting $5 million or more of bailout money. The bill passed by an overwhelming 328 to 93 margin, but the Republican caucus narrowly opposed it (87 to 85), as did 6 Democrats.

Over the past week, the GOP has done its best to blame the Administration and congressional Democrats for facilitating the AIG mess and not passing language banning bailout-receiving companies from paying bonuses. (To be fair to Republicans, they did not vote against the Dodd Amendment to the stimulus that implemented retroactive restrictions on bonuses; neither did Senate Democrats, of course, but retroactivity was then struck down by Treasury’s lobbying.)

Needless to say, for the majority of House Republicans to now vote against the remedial taxation bill makes it much more difficult for the GOP to portray itself as the populist party. How can Republican leaders go on Sunday shows to voice anger at the AIG bonuses if their party has gone on the record as opposing the one solution that has been proposed for now? What Senate Republicans do on the bill will now determine whether Democrats can turn the table and blame the GOP for not doing anything to halt the bonuses.

As is expected, many vulnerable Republicans from blue-leaning district voted “yea,” including Rep. Cao (LA-02), Rep. Castle (DE-AL), Rep. Kirk (IL-10) and Rep. Reichert (WA-08). Yet, there were some surprising votes, starting with Rep. Thad McCotter (MI-11): McCotter represents a swing district that has been hit hard by the crisis, exactly the type of district in which the AIG bonuses are sure to make a big impression. By voting against the stimulus bill twice and now, McCotter is certainly not facilitating his 2010 re-election race.

As for the 6 Democrats who voted against the bill, they are: Melissa Bean (IL-08), Larry Kissell (NC-08), Michael McMahon (NY-13), Walt Minnick (ID-01), Harry Mitchell (AZ-05) and Vic Snyder (AR-02). Interestingly, they all have a centrist profile but they are not known to be the most conservative Democrats of the House. Kissell is positioning himself more to the right than most people expected; he was a netroots favorite, and he represents a district Obama won handily. As for Melissa Bean, she is close to business interests and has received some support from the Chamber of Commerce. Of the six, only Minnick and Kissell are expected to face a tough re-election race next year.

Dodd continues to be target of unfair criticism

It became clear earlier this week that Connecticut Senator Chris Dodd would be made into the scapegoat on what is politicians’ collective failure. As I explained on Wednesday, Dodd introduced an amendment making bonus restrictions retroactive; Timothy Geithner and Larry Summers tried to convince him not to introduce the amendment, which passed nonetheless before being scrapped off in the reconciliation committee. And yesterday, Dodd acknowledged helping “dilute the executive pay provision that would have applied retroactively.”

That this admission has provoked a furious reaction and “breaking news” headlines speaks to Dodd’s critics determination to unfairly deflect all the blame on the Senator: The provision that Dodd agreed to dilute was his own amendment. How, then, can he be blamed for opposing bonus restrictions when he was the one who fought to introduce restrictions? Without Dodd, there would not have been any retroactivity to strike out of the bill!

Sure, he did end up bowing to Treasury’s anti-retroactivity stance, but he only did so after Geithner and Summers threatened to erase his entire amendment - not just the retroactivity clause. It is deeply unfair to make him into the main culprit given that he was the one to propose retroactivity in the first place - and given that it was the Administration who fought tooth and nail to remove it.

This version of events is exactly what Dodd was trying to get to in his much decried statement to CNN. “The alternative was losing, in my view, the entire section on executive excessive compensation,” he said, explaining that he “reluctantly” agreed to remove retroactivity at the urging of the Obama Administration. (The Administration could certainly have gotten reconciliation negotiators to remove the entire section on bonus restrictions rather than just the retroactivity clause, and Dodd could have done little to stop that since he was not on the committee.)

On the other hand, there are certainly areas on which criticizing Dodd is more than fair: For one, AIG controversy feeds into justified criticism of Dodd’s ties to the banking industry - and to the very real scandal on his mortgage deal that engulfed him last summer. As the chairman of the Banking Committee, Dodd has received extensive donations from the industry. While such behavior is common to all politicians, it certainly does not inspire trust in his willingness to take the necessary regulatory steps.

Interestingly, after initial reports quoted a Treasury official throwing Dodd under the bus, Tim Geithner is now confirming Dodd’s version of events. After all, the fact that Dodd is on the record as favoring retroactive restrictions without any exception for the inviolability of contracts makes it difficult for Treasury to coherently deflect all of the blame on him. Will the Administration go far enough to save Dodd from more criticism?

For now at least, Dodd remains everyone’s whipping boy. This morning, one of The New York Times’s leading stories is devoted to reactions to this controversy:

Across Connecticut, anger is erupting against Mr. Dodd, the chairman of the Senate Banking Committee, whose stature in Washington once reflected the state’s beneficial ties with the financial industry. Now, he finds himself a symbol of the political establishment’s coziness with tainted corporations and a target of populist wrath over their excesses.

On Thursday, the senator sought to defuse the furor over the latest revelation, holding a conference call with reporters to explain how legislation meant to limit executive compensation was changed at the last minute. That change exempted bonuses protected by contracts, like those at American International Group, a big campaign contributor to Mr. Dodd that received billions in federal bailout money.

The AIG mess will undoubtedly impact Dodd’s re-election prospects. He is already facing mediocre poll numbers and a credible opponent, former Rep. Rob Simmons, who has already blasted Dodd’s role in allowing the AIG bonuses. “There’s an appearance of impropriety. If you’re putting language into a bill that protects bonuses for people that gives you $100,000 over the last year alone, then it doesn’t look good,” he said.

If the controversy continues to center on Dodd, the Senator might not even be in a position to seek re-election and Democrats might pressure him to retire to allow for a less tainted candidate to take his place. Connecticut Democrats have enough of a bench to ensure they can field a top-tier candidate to replace him.

Update: For those who are interested in the Dodd controversy, Glenn Greenwald has a characteristically efficient take-down of the “Blame Dodd” argument:

It was Dodd who did everything possible — including writing and advocating for an amendment — which would have applied the limitations on executive compensation to all bailout-receiving firms, including AIG, and applied it to all future bonus payments without regard to when those payments were promised… The point was — and is — that Dodd was pressured to put that carve-out in at the insistence of Treasury officials (whose opposition meant that Dodd’s choices were the limited compensation restriction favored by Geithner/Summers or no limits at all), and Dodd did so only after arguing in public against it.  To blame Dodd for provisions that the White House demanded is dishonest in the extreme…

And even after Dodd finally gave in to Treasury’s demands, he continued to support an amendment from Ron Wyden and Olympia Snowe to impose fines on bailout-receiving companies which paid executive bonuses.”


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Deflecting blame on AIG bonuses

Edward Liddy, the chief executive of AIG, is scheduled to testify before Congress today in what should make for  great political spectacle. Lawmakers are expected to pile up on Liddy and unleash their populist fury - and that could take them quite far, given the recent rhetoric of some Senators.

Yet, the most outrageous part of the story should not be AIG’s decision to parcel out bonuses but the government’s reluctance to take any meaningful step to reform the system. In walking back his comments calling for AIG executives to commit suicide, Chuck Grassley explained that, “I do believe that when you have done bad for your company, for your stockholders, and eventually for the taxpayer… you ought to say I’m sorry.” Much of the recent outrage is in a similar vein to Grassley’s: How dare the executives not feel contrition? How dare they act so greedily when the rest of the country is suffering?

Yet, how can we forget that making as much money as possible is the reason for-profit companies like AIG exist? The question should not be why business executives would act so greedily but rather why government would ever allow them to act like this - especially when the funds that is being parceled out are bailout money. Lawmakers like Grassley who pretend to be shocked that business executives might not respect basic decency and individual morality are avoiding the meaningful latter issue to focus on the former, narrow question.

Asking why executives would ever be allowed to act so freely forces us to recognizes that these bonuses are not bizarre occurrences or breaches of the law; rather, they are symptomatic of an economic ideology that has replaced government regulation with the inviolability of the free market. They are not excess, but the logical consequence of the policies that have developed ever since Freidmanite economics became the guidebook of U.S. policy. They are as much a manifestation of individual greed as the consequence of a decades-long trend against legislating business practices.

In other words: The Bush and Obama Administration’s reluctance to put in place effective regulations is as responsible for the AIG bonuses as are the company’s executives, and it is silly for politicians to suddenly act surprises at something that should have surprised no one.

Leaving aside broad discussions of economic trends and political ideologies and looking at very practical matters, the bonuses had been in the air for months! AIG’s plan to deliver “retention payments” were attracting media attention and political fire back in December, and The Washington Post reports that the Federal Reserve knew about the bonuses for months. How likely is it, then, that Geithner, who helped negotiate the terms of the AIG bailouts, did not know about these bonuses until last week?

Even if Geithner and Congressional leaders did not know about the detail of these bonuses a few months ago, many lawmakers (not to mention outside observers) warned about the likelihood of such an incident and tried to block it. Barnie Sanders has been proposing bills to cap executive pay since the fall, and Ron Wyden and Olympia Snowe succeeded in passing an amendment to the stimulus bill capping bonuses. The amendment was thrown out in the conference committee, and Wyden is now openly blaming the Administration’s opposition.

Even more damning: In February, Chris Dodd had introduced an amendment to the stimulus bill that would have imposed retroactive bonus caps on companies receiving bailout money - meaning that bonuses agreed to before February 11th would also fall under the legislation’s scope. As numerous news stories attest to, Geithner and Larry Summers both called Dodd, urging him to drop retroactivity. Dodd nonetheless pushed through the amendment (SA 354 to H.R.1) but it was then thrown out during the conference committee. (Jane Hamsher provides a clear and detailed documentation of this sequence of events.)

Let’s recap: The Obama Administration lobbied to throw out provisions to make bonus restrictions retroactive - and the lack of such a provision is now greatly helping AIG executives insist that no law is being breached since the bonuses had been outlined in contracts months ago.

Once again, the pattern is clear: Governmental reluctance to take efficient regulatory measures and to risk upsetting business executives is at the origin of the AIG bonuses that were paid last week - bonuses that at least some governmental officials knew about months ago, before they lobbied against regulation.

But all of this is nothing next to the fact that the same people who undercut Dodd’s efforts to prevent this situation are now blaming him for being responsible for the AIG bonuses. From The New York Times:

The administration official said the Treasury Department did its own legal analysis and concluded that those contracts could not be broken. The official noted that even a provision recently pushed through Congress by Senator Christopher J. Dodd, a Connecticut Democrat, had an exemption for such bonus agreements already in place.

A Treasury official is here telling the media that there is no way to stop the AIG bonuses because the stimulus bill does not make restrictions radioactive. The official claims that Dodd is responsible for the provision’s ineffectiveness, but, as I explained above, it is Dodd who was trying to introduce radioactivity in the bill and the Treasury (via Geithner) who beat back his efforts to do so!

In short: Geithner is deflecting his responsibility on one of the most endangered Democratic Senators of the 2010 cycle. (Marc Ambinder has more in a post entitled, “Don’t Blame Chris Dodd.”) Given that much of Dodd’s 2010 weakness comes from a controversy about his mortgage terms and from his role in the Banking Committee, this new wave of Dodd criticism will only fuel what is his biggest vulnerability: The perception that he is too cozy with the banking industry and with business executives.

Of course, while Dodd is increasingly endangered, other Democrats are doing their best to take advantage of the situation by scoring political points. Andrew Cuomo, for instance, has been all over this controversy: He has issued subpoenas, launched investigations to look into possible fraud charges, and uncovered new revelations that have made the story that much more problematic. If Cuomo challenges David Paterson in the 2010 gubernatorial primary, this should make for a great contrast with the increasingly unpopular Governor.

Another Democrat who is trying to score points is freshman Rep. Gary Peters, who defeated a Republican incumbent in MI-09 last fall and who could face a competitive race in 2010. The Democratic leadership has allowed Peters to be the main sponsor of a bill that would surtax the bonuses 60% for government to recoup most of the money; Peters is predictably attracting very favorable press in his home state.

However much lawmakers try to deflect blame on AIG executives, however much the embattled Geithner (it’s never a good sign when the White House is forced to repeatedly insist that they have full confidence in a top official) tries to deflect blame on Dodd, this controversy will hopefully mean that the Administration will be forced to accept a more proactive regulatory role. Yet, the worry is that this controversy severely limits the White House’s policy options going forward. Many believe that Treasury will ask Congress for more emergency measures, but this will make it much more difficult to get approval for further bailouts.



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  • Confusion in Connecticut (Updated)

  • Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

    Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55
  • Results thread, part 2: Dems suffer staggering losses in House and legislatives races, limit damage in statewide races

  • Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

    Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55
  • Election Night results thread: Rep. Boucher’s fall first surprise of the night

  • Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

    Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55
  • Election night cheat sheet

  • Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

    Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55
  • Final ratings: Democrats brace for historic losses

  • Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

    Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

    Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55
  • What to watch for down-ballot

Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

Strict Standards: mktime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 41

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 50

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 52

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 54

Strict Standards: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EST/-5.0/no DST' instead in /homepages/33/d214989360/htdocs/wp-includes/functions.php on line 55

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1002

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /homepages/33/d214989360/htdocs/wp-includes/kses.php on line 1003

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