Speaker Pelosi promises bold, swift action

In a press conference today Speaker of the House Nancy Pelosi (D- Calif.) expressed pride in President Obama's presentation of the economic recovery package last night, which passed today in the Senate. Pelosi stated that she is looking forward to reaching a compromise on the House and Senate versions of the bill and putting it to work quickly.

"They know that President Obama cautioned the nation that we cannot allow the perfect to be the enemy of the effective and of the necessary, and we will not. Any one of us can write the bill that we'd like better, isn't that the way it always is. But we built consensus, we're proud of the process we put forth, and it has a strategic vision, a strategic mission, so all the parts of it have to come together in a way that keeps the promise that we are making. Bold, swift action and creating jobs," she stated.

Treasury Secretary Geithner comments on new economy policies

Secretary Geithner spoke today about America's financial crises and the new administration's actions. The issue regarding the banks situation worldwide and its important in getting credit flowing again, was emphasized. Without credit the economy cannot grow, Geitner said.

Geithner also stated that the causes are many for the crisis. Part of it is that banks are giving to much credit, taking too many risks, and individual businesses are borrowing too much.

Geither described the jump starting of jobs and ensuring of credit to families and businesses as key issues. He also stated that one of America's current problems is that families all over the country are losing faith in authority. To be able to restore faith among people, the government needs to act and reform new polices. The two pronged approach that was presented was, job creation and private investment, and getting credit flowing again. Geithner presented policies such as a new consumer spending program that will support credit. In addition, a program that makes loans more available. In the upcoming weeks, a housing plan will also be presented.

With the new policies consumers will be able to view more actions that are affecting the lending and borrowing practices of processes of the banks. Actions that the government takes in reference to the banks will help create a new capital effort and help them to get back on track. A new private/public investment fund will also be created to support loans and help private markets. By supporting consumers and business lending, the economy can be turned around. Geithner stated that the new polices will take time, money, and risks by the government.

Senator Bob Casey and Chairwoman Carolyn Maloney discusses Monthly Job Report and Unemployment Rate

Senator Bob Casey (D-PA) and Joint Economic Committee Chairwoman Carolyn Maloney (D-N.Y) attended a news conference today and discussed the increasing unemployment rate and the economic recovery package.

Senator Casey brought up figures from a new report regarding unemployment. Senator Casey described that almost 600,000 people lost their job over just one month and all States suffer from this crisis. Over three months almost 1.8 million people have lost their jobs and now is the time for action and to pass the economic recovery bill, Senator Casey said. "If their is any time for action, it is now. Not in two weeks from now, not two months from now, but now", Senator Casey stated.

Maloney argued that the report shows something all Americans already know. We are living in bad times. The job-loss has escalated over just months and every sector are affected, Maloney said. To recover from this economic crisis, the stimulus bill has to be passed.
Maloney also replied that to pass this bill successfully, the Senate need input from the House and also support from Republicans.

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

Obama Administration Needs To Work With Latin America

By Kayleigh Harvey - Talk Radio News Service

Sergio Bendixen, President of Bendixen and Associates; Dr Cynthia McClintock, Professor of political science and international affairs, and director of the Latin America and Hemispheric Studies Program at George Washington University, Eric Farnsworth, Vice-president of the Council of Americas and Ray Walser, senior policy analyst for Latin America in The Heritage Foundation's Douglas and Sarah Allison Center for Foreign Policy studies, gave testimonies today before the Subcommittee on the Western Hemisphere.

The witnesses created a lot of attention, with people lining up outside to hear the testimonies on "U.S. Policy Toward Latin America in 2009 and Beyond".

Congressman Gregory Meeks (D-NY), said: "You can tell by the way the room is filled today the interest in the Western Hemisphere".

Subcommittee Chairman Eliot Engel (D-NY) opened the hearing by welcoming Congressman Connie Mack (R-FL) as the committee's new Ranking Member and then outlined some positive steps he would like the Obama administration to pursue.

"First and foremost, I believe that President Obama's participation in April's Summit of the Americas in Trinidad and Tobago would send an extremely positive message to the heads of the state from Latin America, to the Caribbean. Second, as Chairman Berman moves forward with foreign aid reform and the Obama administration prepares its FY 2010 budget, it is essential that we increase funding for countries in the Western Hemisphere...Third, cooperation between the US and Brazil significantly expanded during the Bush Administration. This relationship needs to be further deepened under President Obama...Fourth, we must continue to support our friends in Mexico through the Merida Initiative...Fifth, I would urge President Obama to focus on Ecuador and Paraguay...and sixth, we must continue to support disaster recovery efforts in Haiti", Engel said.

Chairman Engel then went on to discuss the attacks in a synagogue in Caracus, Venezuela.

"On Monday, I sent a letter, along with 19 of my colleagues, to President Chavez urging him to end the bullying and harassment of the Jewish community in Venezuela and to extend the community the robust protection it deserves in light of the threats it faces. The Venezuelan government must quickly change its tune with regard to the country's Jewish community".

Dr McClintock said: "In Lationobarometer surveys between 2000 and 2005, approval ratings of the United States fell by more than 20 points in Ecuador, Chile, Brazil and Bolivia; more than 30 points in Mexico and Uruguay; and more than 40 points in Argentina, Paraguay, and Venezuela".

Ray Walser commented on America's dependence on the oil industry, with Congressman Ron Klein (D-FL) backing up his argument and stated that America needs to stop "buying oil from a country {Venezuela} that is hostile to our interests".

The committee also discussed the American economy and its ability to assist Latin American countries. Sergio Bendixen said: "We need to be realistic. Not only about what our friends want but what Latin America wants...we have economic limitations".

Other issues the committee discussed were the desires from the Obama administration, the April 2009 summit of the Americas in Trinidad and Tobago, human rights in Cuba, immigration, drugs control and free trade.

Eric Farnsworth suggested in his testimony that Brazil and Mexico should be allowed to join the G8. "Listening to Latin America is important...the rest of the hemisphere also has good ideas".

Chairman Engel said: "We cannot ignore our own backyard".

The committee hearing ended after 120 minutes as Congress was called to vote.