Obama Salutes Senate For "Breakthrough" On Financial Reform

Senate Democrats met with President Barack Obama at the White House today to discuss a number of key legislative items going forward. Yet, following the nearly hour-long meeting, the President addressed reporters, but made no mention of two of the biggest questions in the room; the status of energy legislation and the delay over the confirmation of Supreme Court nominee Elena Kagan.

Instead, Mr. Obama issued a brief statement praising the Senate for inching closer toward passing financial reform. With Sen. Ben Nelson (D-Neb.) announcing earlier today that he will vote ‘yes’ on the bill, Democrats now have the 60 votes necessary to prevent a Republican filibuster.

“Three Republican Senators have put politics and partisanship aside to support this reform,” he said, referring to Sens. Scott Brown (R-Mass.), Susan Collins (R-Maine) and Olympia Snowe (R-Maine). “I’m grateful for their decision, as well as all the Democrats who’ve worked so hard to make this reform a reality.”

“I urge the Senate to act quickly so that I can sign [the bill] into law next week,” he added.

Standing beside the President was Jacob ‘Jack’ Lew, his nominee to succeed Office of Management and Budget (OMB) Director Peter Orszag. Lew, currently a deputy secretary of state for management and resources, previously occupied the position under the Clinton administration. Mr. Obama thanked Orszag for his work on healthcare reform and putting together a budget in the face of a $1.3 trillion deficit, and extolled Lew for overseeing a federal surplus during the late 1990’s.

“I was actually worried that [Secretary of State] Hillary [Clinton] would not let him go. I had to trade a number of number one draft picks to get Jack back at OMB,” the President joked.