Obama All but Calls Cosby a Serial Rapist
Shock of the Day

Obama All but Calls Cosby a Serial Rapist

A worker cleans graffiti on actor Bill Cosby's star on the Hollywood Walk of Fame in Los Angeles December 5, 2014. REUTERS/Phil McCarten
PHIL McCARTEN
By Eric Pianin

For months, comedian Bill Cosby has come under relentless attack amid allegations that he raped dozens of women over the years after slipping them drugs. As the controversy grew, some on Capitol Hill questioned whether something should be done to strip the long-celebrated actor of a Presidential Medal of Freedom awarded him in 2002 during the Bush administration.

Today at a White House news conference, President Obama abruptly veered from an extensive defense of the Iran nuclear deal to a thinly veiled denunciation of Cosby as a serial rapist. In response to a reporter’s question of whether he would consider rescinding the medal, Obama said, “There’s no precedent for revoking a medal,” and that “we don’t have the mechanism.”

Then, after  noting that he rarely publicly discusses pending civil law suits that  might result in criminal charges, he made this startling pronouncement: “I’ll say this: If you give a woman -- or a man for that matter -- without his or her knowledge a drug and then have sex with that person without consent, that’s rape.”

It was a dramatic moment as the first African American president in U.S. history denounced from the White House pulpit the conduct of one of the most prominent and (once) beloved black actors and comedians of modern times.

Related: Bill Cosby's Moralizing Comes Back to Haunt Him

Cosby and his lawyers for months have dismissed as fantasy claims by more than two dozen women that they had been sexually assaulted by the actor over the past several decades – frequently after having been given knock-out drugs to make them groggy or put them to sleep.

But this ‘he said-she said’  controversy came to an end earlier this month after Cosby had admitted in a deposition giving Quaaludes to women he wanted to have sex with.

The documents, dating back to 2005, stem from a civil lawsuit filed by Andrea Constand -- one of the dozens of women who have publicly accused the comedian of sexual assault. The records were made public after The Associated Press went to court to compel their release.

Following that report, Sens. Kirsten Gillibrand (D-NY) and Claire McCaskill (D-MO) said it was an outrage that Cosby continued to hold the highest civilian honor in America. In a statement to Politico, a spokeswoman for Gillibrand said Cosby's medal must be revoked "because we need to set a clear example that sexual assault will not be tolerated in this country."

Obama apparently agrees with the senators, but just doesn’t know what he could do to take the medal back. 

Map of the Day: Navigating the IRS

IRS, activist lawyers to clash in court over tax preparer rules
Reuters
By Michael Rainey

The Taxpayer Advocate Service – an independent organization within the IRS whose roughly 1,800 employees both assist taxpayers in resolving problems with the tax collection agency and recommend changes aimed at improving the system – released a “subway map” that shows the “the stages of a taxpayer’s journey.” The colorful diagram includes the steps a typical taxpayer takes to prepare and file their tax forms, as well as the many “stations” a tax return can pass through, including processing, audits, appeals and litigation. Not surprisingly, the map is quite complicated. Click here to review a larger version on the taxpayer advocate’s site.

A Surprise Government Spending Slowdown

Wikimedia / Andy Dunaway
By Michael Rainey

Economists expected federal spending to boost growth in 2019, but some of the fiscal stimulus provided by the 2018 budget deal has failed to show up this year, according to Kate Davidson of The Wall Street Journal.

Defense spending has come in as expected, but nondefense spending has lagged, and it’s unlikely to catch up to projections even if it accelerates in the coming months. Lower spending on disaster relief, the government shutdown earlier this year, and federal agencies spending less than they have been given by Congress all appear to be playing a role in the spending slowdown, Davidson said.

Number of the Day: $203,500

Mulvaney listens as U.S. President Donald Trump meets with members of the Republican Study Committee at the White House in Washington
REUTERS/Jonathan Ernst
By The Fiscal Times Staff

The Wall Street Journal’s Catherine Lucey reports that acting White House Chief of Staff Mick Mulvaney is making a bit more than his predecessors: “The latest annual report to Congress on White House personnel shows that President Trump’s third chief of staff is getting an annual salary of $203,500, compared with Reince Priebus and John Kelly, each of whom earned $179,700.” The difference is the result of Mulvaney still technically occupying the role of director of the White House Office of Management and Budget, where his salary level is set by law.

The White House told the Journal that if Mulvaney is made permanent chief of staff his salary would be adjusted to the current salary for an assistant to the president, $183,000.

The Census Affects Nearly $1 Trillion in Spending

Alex Rader/The Fiscal Times
By Michael Rainey

The 2020 census faces possible delay as the Supreme Court sorts out the legality of a controversial citizenship question added by the Trump administration. Tracy Gordon of the Tax Policy Center notes that in addition to the basic issue of political representation, the decennial population count affects roughly $900 billion in federal spending, ranging from Medicaid assistance funds to Section 8 housing vouchers. Here’s a look at the top 10 programs affected by the census:

Chart of the Day: Offshore Profits Continue to Rise

FILE PHOTO: An illustration picture shows euro and US dollar banknotes and coins, April 8, 2017.  REUTERS/Kai Pfaffenbach/File Photo
Kai Pfaffenbach
By Michael Rainey

Brad Setser, a former U.S. Treasury economist now with the Council on Foreign Relations, added another detail to his assessment of the foreign provisions of the Tax Cuts and Jobs Act: “A bit more evidence that Trump's tax reform didn't change incentives to offshore profits: the enormous profits that U.S. firms report in low tax jurisdictions continues to rise,” Setser wrote. “In fact, there was a bit of a jump up over the course of 2018.”