Reid: Time To Travel Down Main Street

By Suzia van Swol-University of New Mexico-Talk Radio News Service
It is time to focus less on Wall Street and more on Main Street said Senate Majority Leader Harry Reid (D-NV) today. Reid hopes to accomplish his goal with housing legislation and the Federal Deposit Insurance Corporation, which guarantees safe deposits and that transactions are fully insured.

Although banks have come down on proposed legislation, arguing that it will increase primary mortgage rates, the general consensus among four Democratic Senators today was that by reducing by foreclosures, banks will start lending and the economy will start moving again.

When dealing with credit cards, “disclosure doesn’t work anymore,” said Sen. Charles E. Schumer (D-NY). Credit card companies have become so good that more is needed to make customers aware of how much interest rates will actually cost them.

From Starbucks to Microsoft, people are experiencing job loss and it is time to be “focused on getting some confidence and stability back to families,” Sen. Patty Murray (D-WA). She said that it is time to help Americans and deal with the foreclosure crisis.

Sen. Richard Durbin (D-IL) said that he is sick and tired of being asked to give billions to banks who have no sympathy for struggling families, and if they have no sympathy than “I don’t have any sympathy for them.”

Getting Past Republicans' “No”

Coffee Brown, University of New Mexico, Talk Radio News

“The hole we’ve inherited is very deep,” said U.S. Senate Majority Leader Harry Reid (D-Nev.), “but we’ve accomplished a lot in the first 100 days.”

Reid listed the Lands Bill as “the most significant environmental legislation in a quarter of a century,” the Lilly Ledbetter Act, S-CHIP, the Economic Recovery Package, the Omnibus Spending Bill and National Service legislation, “even though we’ve had little cooperation from those on the other side of the aisle.”

In the coming weeks the Senate has a lot of work to do: the bankruptcy provision in the housing legislation, credit consumer protection, tobacco legislation “is way, way overdue”, and the supplemental provision bill. Republicans have to do more than just say no, he finished. He added that procurement was crucial to the defense department.

Pointing toward an empty easel, Sen. Charles Schumer (D-N.Y.) said, “As you can see, this is what the Republicans want us to accomplish. Their three words are ‘no, never, nothing.’”
“We have not blocked them on any amendments they want to offer,’” he said, adding they have no reason to make the Senate wait by using filibusters.

Sen. Richard Durbin (D-Ill.) reported that President Obama has the greatest upward shift in polls in the first 100 days since before the first Bush. He presented Associated Press findings showing a 44 percent increase in the President’s approval rating. This contrasts with several recent statements made by Republicans that voters are turning away from Obama.

Mark Silva, of the L.A. Times, gives a detailed report showing consistent 63-64 percent approval in Pew, Gallup, Associated Press and GfK Roper Public Affairs and Media polls, and says this is the first time in 10 years that the majority of the public feel the country is going in the right direction.
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“Who speaks for the Republican Party today? Dick Cheney? Newt Gingrich? Sarah Palin? Michael Steele?” Durbin asked, adding, “This is a party in search of an identity and a mission. The only mission they’ve had so far is to resist and fight this president.”

“It will not harm the Grand Old Party to spend this year in a cooperative effort to solve the problems of America,” he said.

Sen. Patty Murphy (D-Wash.) said Republican delays and filibusters are preventing Congress from solving pressing problems.

Regarding another bone of contention with Republicans, Reid said he couldn’t discuss security briefings he’d attended on sanctioned torture, but that justice, and “not vengeance, must be served.”

Reid also confirmed that the Senate is considering a 9-11 style commission to evaluate the causes of the financial meltdown.

Threats of filibusters don't scare the Democrats

Democrats remain confident that the new economic recovery plan will have enough votes to succeed. Senators Harry Reid (D-NV), Richard Durbin (D-IL), Patty Murray (D-WA) and Charles Schumer (D-NY) held a press conference today discussing the new plan.

Although the Republicans threaten to stall with filibusters, Senator Schumer said, "Has bipartisanship been a failure? Well so far its not working but it takes two to tango and the Republicans aren't dancing." The Republicans are trying to "lob off" parts of the bill said Sen. Schumer, but he stated that every time we lob off of the bill, we lob off jobs.

Schumer stated that the only people who oppose this bill are Republicans in the house and senate that are holding on to a doctrine that's "been tossed out by the voters and tossed out by experience." He further stated that he would rather pass a good bill with 65 votes, then a bad bill with 80 votes. "the key is the number of jobs created, not the votes" said Schumer

Schumer said that McCain's mortgage plan, which focuses on re-financing is "totally flawed". He says that, "Instead of re-financing mortgages and making the bank the gatekeeper, we should just give people the money in a direct way, which is what the Obama plan does.”

Senator Murray concluded with "a 4% mortgage does you absolutely no good if you don't feel confident that you have a job and an income."

by Suzia van Swol, University of New Mexico- Talk Radio News Service

Democrats plan for America

Topic: Democratic senators lay out plan for America

On Wednesday, January 21, 2009, the first full day of the new administration, Democratic senate leaders laid out their overarching agenda for at least the next two years.
Priorities were:
1. Economic recovery, which, according to Senate Majority Leader Harry Reid means “jobs, jobs, jobs.” Senator Debbie Stabenow, who led the entire presentation, emphasized that each of the proposed programs should produce more recovery in jobs and return on investment than they cost.
Sens. Charles Schumer and Byron Dorgan discussed the economy. Schumer described sewage treatment and fresh water reclamation as examples of neglected infrastructure projects, which could create jobs and sustainability. He stated that Social Security is not in jeopardy, but that Medicare will require adjustments.
Both Senators said that energy programs will be major areas of investment, and Dorgan specifically said that expansion of the power grid was a priority. This would provide for the decentralization of power production and make distribution more robust.
Dorgan also specifically addressed the need to regulate practices, like derivatives, which encourage risk taking by lenders, as well as mortgages with “teaser” rates leading to balloon payments later.
While there was some inevitable finger pointing, the emphasis was on the need for bipartisan commitment.
Sen. Amy Klobuchar said that Obama has promised to personally review and approve proposed economic policies, and to improve transparency by posting financial data, such as expenditures, interest rates and returns on the web
2. Energy: Sen. Harry Reid stressed the need for oil independence, first from the need to import oil, which is a major cause of the imbalance of trade, but ultimately from domestic oil as well. He said this was a security issue as much as an environmental and economic one.
Sens. Amy Klobuchar and Jeff Bingaman answered question on energy policy. Bingaman supports a cap and trade policy for carbon units, with a need to simplify the details, and to cap the level to which fees for allowances can rise as oil prices fluctuate. He noted that even oil produced by American companies is generally imported. He declined to give a timetable for addressing climate change, reminding the press that it is not possible to address every important issue simultaneously. Bingaman did say that Sen. Henry Waxman plans to submit an energy bill by Memorial Day.
Klobuchar said, with confirmation of Ray LaHood as Secretary of Transportation and Commerce, the United States would be in a position to be leaders again at the Copenhagen conference on climate change, the successor to the Kyoto conferences. Referring to cap and trade policy, she said it is important not to ratify historic carbon emissions, but also not to punish companies that have alreadybeen working to bring emissions down.
3. Healthcare: Sens. Ron Wyman and Debbie Stabenow presented. Stabenow said that Obama will immediately lift bans on stem cell research, and that expanded SCHIP coverage, including mental health and dental care, will pass within the next two weeks. She noted that “community mental health” had become, for some, code for reduced federal funding on mental health programs. She confirmed that universal coverage includes mental as well as physical illness. As a strategy to address the critical shortage of nurses, she proposed forgiving student loans upon completion of training.
Stabenow also said that medical information technology is an important investment for better and more efficient health care.
Regarding the economic impact of expanding health coverage, she said Canada remains competitive partly because its businesses do not have to bear the costs of employee health insurance. The big question, Stabenow said, is maintaining choice for patients.
Wyman said that for progressives “the story of universal health care is one of unrequited love.” There have been several occasions in the past when comprehensive reform appeared likely, but powerful interest groups or intervening crises prevented its passage. This time, things look better in that former foes have become allies as industry tries to divest itself of the cost and responsibility of health care. Sen. Tom Daschle, who has devoted much of his career to this issue, will become Secretary of Health and Human Services. Sens. Kennedy, Daschle, Stabenow, and Wyman have worked to make the legislation more transparent and streamlined than last time, Wyman said,and the public is likely to choose the health plan that congress uses.
Sen. Harry Reid told the press this is an aggressive congress with the political tools and capital to get much of the desired legislation passed, noting that they just passed 164 environmental bills, which would have been impossible, just a short time ago.

Today at Talk Radio News

Today the Washington Bureau will be covering the Senate Banking, Housing, and Urban Affairs Committee hearing on "Oversight of the Emergency Economic Stabilization Act: Examining Financial Institution Use of Funding Under the Capital Purchase Program", House Energy and Commerce Committee hearing on "Treatments for an Ailing Economy: Protecting Health Care Coverage and Investing in Biomedical Research", and a DSCC press conference with Sen. Charles E. Schumer on the Minnesota recount.

The Washington Bureau will also be reporting on the Heritage Foundation's discussion on "Assessing the Impacts of the Financial Crisis on Europe's Political Architecture", the Center for U.S. Global Engagement's discussion on the presidential transition and its implications for foreign policy decision-making in the next administration, and a National Council of La Raza conference call on the impact of immigration issues on the 2008 election.