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US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund. The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance. “The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation,” he said. Mr Geithner later...

- Pro-labor demonstrators are preparing Saturday for what may be the largest rally yet at the state Capitol. Among those expected to attend are farmers on tractors, labor leaders and the 14 Democratic state Senators who fled to Illinois to try to block Gov. Scott Walker's budget-repair bill. Walker signed the bill Friday. Democrats have vowed to fight the legislation in the courts and at the ballot box -- there could be as many as 16 recall campaigns against state Senators from both parties. Union leaders are scrambling to try to deal with new rules established by the legislation. The...

Cornyn: Openly gay SCOTUS nominee might be acceptable By J. Taylor Rushing - 04/12/10 06:59 PM ET An openly gay nominee to the vacancy on the U.S. Supreme Court might be acceptable, Sen. John Cornyn (R-Texas) said Monday. Cornyn, a member of the Senate Judiciary Committee, called on President Barack Obama to make a measured choice in filling the pending Supreme Court vacancy, hesitating slightly when asked if he would support an openly gay nominee. Cornyn, a former Texas Supreme Court justice, was initially reluctant when asked if he would support an openly gay nominee — as Sen. Jeff Sessions...

Making a last-ditch effort to save his health care overhaul, President Barack Obama on Monday put forward a nearly $1 trillion, 10-year compromise that would allow the government to deny or roll back egregious insurance premium increases that infuriated consumers. Posted Monday morning on the White House Web site, the plan would provide coverage to more than 31 million Americans now uninsured without adding to the federal deficit. It comes just four days before Obama's one-of-a-kind, televised health care summit with Democrats and Republicans.

CQ's Josh Rogin reports: The White House has given the Pentagon guidance to delay procurement of aerial refueling tankers by five years and cancel plans for a new long-range bomber, according to three sources close to the discussions. No final decisions have been made, and the recommendations are part of negotiations between the Office of Management and Budget and the Defense Department over possible budget trade-offs this year, the sources said. The guidance represents two of the offset options that OMB gave the Pentagon last month regarding the fiscal 2010 Defense budget request. If the guidance survives the internal budget...

Obama Will Tear America Apart by Rich Carroll Find a comfortable chair and read what’s on the minds of half of the American voters. I’ll say it because I don’t work for the politically correct and weak left-wing media that was once a national safeguard until it eroded into a liberal tool. I represent those of us who place our hand over our heart during the National Anthem; those of us who never felt it was necessary to burn an American flag; those of us who were never “offended” seeing the Ten Commandments hanging from inside a building; those of...