MOSCOW—Russian Prime Minister Vladimir Putin called the U.S. “a parasite” because of its huge debt load, evoking a term used by Soviet leaders to demonize people who didn’t work, study or serve the Communist state.
In a speech Monday, Mr. Putin said Russia and other countries should seek new reserve currencies to hedge against “a systemic malfunction” in the U.S. Both Russia and China in the past have questioned the dollar’s pre-eminence as a reserve currency and its role in international trade and investment.
Russia keeps almost half its reserves in dollar assets.
Read it here: WSJ.com.
OBAMA DECLARES ECONOMIC WAR ON ALABAMA
The Obama administration is challenging Alabama’s new immigration law that allows police to detain people they suspect of being illegal immigrants after a traffic stop.
The Justice Department says the Alabama law conflicts with federal law and undermines federal immigration priorities.
In a lawsuit filed in federal court in Alabama, the government says the state law expands the opportunities for Alabama police to push immigrants toward incarceration for various new immigration crimes.
Read the rest here: The Blaze.com
BIDEN LABELS AMERICANS AS TERRORIST
Vice President Joe Biden joined House Democrats in lashing tea party Republicans Monday, accusing them of having “acted like terrorists” in the fight over raising the nation’s debt limit, according to several sources in the room.
Biden was agreeing with a line of argument made by Rep. Mike Doyle (D-Pa.) at a two-hour, closed-door Democratic Caucus meeting.
Read more: Politico.com
Don’t you just love the direction our country is going in?