Today’s Times
The cost of a part for an Army helicopter proves that the power of earmarks endures in Congress, critics say. Eric Lichtblau reports on controversy surrounding $17,000 oil drip pans made by a company whose owners donate to Representative Harold Rogers, a Kentucky Republican. The House on Friday beat back an unusual coalition of liberal and conservative lawmakers and approved a broad military policy bill that would break Pentagon spending caps agreed to last summer, Jonathan Weisman reports. The measure would thwart the Obama administration’s efforts to close the military prison at Guantanamo Bay, Cuba, and would impede its ability to carry out the nuclear arms reduction treaty ratified by the Senate in 2010.Both President Obama and Speaker John A. Boehner have signaled that the summer is likely to bring a potential replay of last year’s damaging showdown over the debt ceiling. Jackie Calmes reports that the administration believes it has greater leverage this time around, though Mr. Obama’s stance on increased taxes for the wealthy leaves open the question of whether election-year politics will play to his advantage.Mitt Romney is hoping that his message of lower taxes, less regulation and an emphatic denunciation of President Obama’s economic record is in sync with New Hampshire voters, Michael Barbaro and Michael D. Shear report. Mr. Romney’s aides have privately identified the state as potentially crucial to victory in a close election, and a potent symbolic win since Mr. Obama took New Hampshire in 2008.Weekly Address
President Obama used his weekly address to push for Wall Street reform, reminding taxpayers of the financial crisis that “cost our economy millions of jobs, hurt middle-class families and left taxpayers holding the bag.” Although he said the White House has put tougher rules in place to prevent another financial downturn, Mr. Obama warned against Washington lawmakers who are trying to reverse those measures. “For the past two years, too many Republicans in Congress and an army of financial industry lobbyists have actually been waging an all-out battle to delay, defund and dismantle Wall Street reform,” he said. With the recent $2 billion loss reported by JP Morgan bank, reassessing the nation’s financial market has taken greater priority within the administration.Around the Web
The first 500 people to donate $100,000 to the Mitt Romney campaign will receive “green room” passes for debates and election night, as well as a summer retreat in Park City, Utah, Politico reports.Happenings in Washington
While President Obama hosts the G-8 leaders at Camp David on Saturday, Michelle Obama will invite their spouses to the White House for a guided tour and intimate lunch. On Sunday the president and first lady will meet NATO leaders in Chicago. Mrs. Obama will take the spouses to a youth center on the city’s South Side.The sixth annual G.I. Film Festival will conclude on Saturday at the Naval Heritage Center with screenings of movies representing every branch of the military.