Beyond the Front Page

Beyond the Front Page

Beyond the Front Page is a weekly summary of facts and figured, broadly focused on U.S. and international economic issues.

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Mike Burita

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WHWG Perspectives

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Landrieu’s Last Hurrah

Republicans controlling both houses will undoubtedly change the dynamic of the next Congress, but the GOP’s new majority has already shaken up the status quo. Recent political movements on the stagnant issue of approval for the Keystone XL pipeline show the 114th Congress may be more interesting to watch than the new season of “Downton Abbey.” Read the entire piece here. 

Should the U.S. Impose Sanctions on Venezuelan Officials?

"Deputy National Security Advisor Tony Blinken's statement in his confirmation hearings to become deputy secretary of state that the Obama administration would not oppose sanctions against Venezuela, prompted by the Maduro regime's repression of democratic protests earlier this year, makes it a virtual certainty that the new Republican Congress will move to impose sanctions next year. This would, I think, have happened in any case. The issue is an irresistible opportunity to show up the Obama administration's laconic and feeble approach to dealing with Latin America's miscreants—exemplified by its feckless failure to prevent Venezuela from securing a seat on the U.N. Security Council earlier this year. An oppositionCongress inevitably tries to contrast its approach with that of the administration. This can serve to pressure the administration to change course—in this case, to stiffen its spine. Blinken's signal strikes me as wise, turning an inevitability that could have become a stratagem to embarrass the Obama administration into an opportunity for bipartisan cooperation. How promptly the cognizant House and Senate subcommittees turn to this is anyone's guess. The 114th Congress will surely face more urgent priorities, and some subcommittee chairmanships aren't yet announced. But if Rep. Matt Salmon retains the House Western Hemisphere Subcommittee chairmanship and if Sen. Marco Rubio—a sanctions advocate—becomes chairman of the counterpart Senate subcommittee, sanctions legislation seems only a matter of time. And, coming against the background of Maduro's mounting economic problems exacerbated by falling world oil prices, the timing could prove ideal. With luck, sanctions will make the situation much worse—for Maduro's regime.