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Congresses and Parliaments

The World Next Week: Congress Goes Lame Duck, Greece’s Parliament Votes on a Budget, and California Auctions Carbon Pollution Allowances

<p>President Barack Obama waves to the crowd of supporters in Chicago after winning the 2012 U.S. presidential election (Jim Bourg/Courtesy Reuters).</p>
President Barack Obama waves to the crowd of supporters in Chicago after winning the 2012 U.S. presidential election (Jim Bourg/Courtesy Reuters).

By experts and staff

Published
  • James M. LindsayCFR Expert
    Mary and David Boies Distinguished Senior Fellow in U.S. Foreign Policy

The World Next Week podcast is up. Bob McMahon and I discussed what the lame duck Congress will do now that President Barack Obama has won a second term; Greece’s vote on a yet another austerity package; and California’s upcoming auction of carbon pollution allowances.

[audio: https://www.cfr.org/content/publications/media/editorial/2012/20121108_T…]

The highlights:

For more on the topics we discussed in the podcast check out:

The U.S. Congress returns for a lame duck session: USA Today writes on the consequences of re-electing a divided Congress. CNN reports that Speaker of the House John Boehner predicts a temporary solution to postpone spending cuts. Reuters predicts that the lawmakers will wait until the February or March deadline to resolve the debt-limit debate. Bloomberg claims that the Republican House will only be more motivated to push for a smaller government.

Greek parliament votes on critical budget: Bloomberg Businessweek outlines the proposed budget and identifies its supporters and opponents. The New York Times reflects on the consequences of the austerity package. USA Today describes the extent of the protests taking place in Greece. Reuters reports on the sentiments of Greek civilians participating in protests.

California auctions carbon pollution allowances: The Washington Post comments on the change in state policy on climate and energy issues. The Los Angeles Times outlines the specifics of the auction as well as California’s cap-and-trade system. Reuters describes the auction’s potential financial impact on Californian businesses. Bloomberg Businessweek warns that a rule change in California’s carbon market may cause potential carbon bidders to reconsider.