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Daily Briefing: GOP prepares balanced budget amendment
By CLARK BARROW - Also, Obama's proposed deficit reduction doesn't reduce much.
DAILY BRIEFING - SUMMARY
· SOLUTION - Children raised by their married, biological mother and father have better lives and rely less on government programs, a pair of studies finds.
· CONGRESS - Republican senators on Wednesday unveiled plans for a balanced-budget amendment to the Constitution, a day after President Obama’s State of the Union address.
· WHITE HOUSE - President Obama used the State of the Union to call on Congress to go beyond small fiscal fights, such as delaying the $85 billion sequester, and return to a grand bargain on the deficit. However, according to Congressional Budget Office figures, the cuts amount to only 1.2 percent of 2013 spending.
· WHITE HOUSE - President Obama’s proposal to raise the minimum wage to $9 an hour from the current $7.25 would harm the economy, some Republicans said Tuesday after the State of the Union address.
· WHITE HOUSE - President Obama will unveil more details on his plan for extending preschool programs on Thursday when he visits a Decatur school and recreation center. Perhaps the biggest question he’s expected to answer is how the proposal will be funded.
· DODD-FRANK - Attorneys-general from eight states have joined a lawsuit challenging the constitutionality of regulations setting up a system to dismantle a big failing bank so its collapse doesn’t cause collateral Lehman-like damage to the economy.
· NORTH KOREA - North Korea's latest nuclear detonation elevated proliferation concerns in Washington and overseas, as scientists and intelligence officials scrutinized the test blast for signals of major advances in Pyongyang's weapons program.
o President Obama vowed during his State of the Union to continue working to reduce the nation's nuclear arsenal, telling lawmakers that America must show leadership in order to isolate nuclear rogue states like North Korea and Iran.
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