Democratic superstars rally to save planet

On Monday morning Al Gore said that it is an “objective fact” that the U.S. is the only nation which can lead the world when a severe crisis looms on the horizon, and that we as a responsibility to future generations to act. Gore spoke at a forum held by The Center for American Progress Action Fund, which discussed how a green approach to infrastructure and energy production can both create jobs and provide for long lasting stability in supply. Gore’s emphasis was on addressing the issue of global warming.

Among the panelists in the forum were Democratic heavyweights from past and present, including Former President Bill Clinton, Speaker of the House Nancy Pelosi, and Senate Majority Leader Harry Reid.
Gore emphasized the importance of reducing gas emissions and dependence on foreign oil, but also spoke on energy infrastructure, a topic which turned out to be the backbone of the forum.

Energy infrastructure refers to the methods whereby energy generated in one location is transported to the rest of the nation. For instance, if the Southwest generates a certain amount of energy in solar power, but doesn’t use all of that energy locally, the rest of it can be distributed to other areas in the nation.
The panelists placed great importance on sound energy infrastructure in the form of a nationwide grid. Pelosi said it was an “essential” element, and without it renewable energy would mean very little to the general national welfare. Pelosi went on to liken it to the interstate highway system, in that it is a program which the federal government should undertake in a uniform way for the expanded welfare of the country. Harry Reid spoke to similar effect.

Robert Kennedy, Jr., Chairman of the Waterkeeper Alliance, said that once the infrastructure is in place, the “energy is free forever”. On that topic, Senator Byron Dorgan (D-ND) said that somewhere in the United States the sun is always shining or the wind is always blowing, and that this method for appropriating energy was truly sustainable. Energy Secretary Steven Chu and Interior Secretary Ken Salazar also voiced support of a unified energy grid.

By Michael Ruhl, University of New Mexico - Talk Radio News Service

Bernanke announces Transparency Initiatives for the Fed

Federal Reserve Board Chairman Ben Bernanke spoke Wednesday at the National Press Club about the Fed’s lending programs and balance sheet. Bernanke spoke about the tool kit used by the Federal Reserve to battle the economic crisis the country is facing. He said that the tools the Fed had at its disposal were programs that would promote liquidity for both financial institutions and money market mutual funds. He said that transparency of the system was important, for democratic reasons, but also to make sure people working with the market understand the system, to encourage the most effective market activity. With this in mind, the Chairman announced two initiatives that the Federal Reserve would be undertaking, the first of which was establishing a new website to educate and inform the public on relevant financial issues within the federal government. This website would consolidate all of the information previously provided by the Fed into one easily accessible place, and would provide explanations on all of it. Additionally, the Fed is going to review current publication and disclosure policies to ensure the public has access to information they “have a right to know”.

Concerning the President’s economic stimulus plan, Bernanke said that he cannot talk about specific components and apportionments, because those are up to the administration and legislators. He did say, however, that there were two necessary parts to recovery: financial stimulus to get the economy moving, and a stabilization of the financial systems. Several times he emphasized the importance of these two components, saying that the other programs will not work without these two pillars. The efforts to get the economy moving again will also specifically help small business, said Bernanke. He went on to say that the country should maintain a level of inflation that finds a balance between maximum employment and price stability over time. He saw very little risk of “unacceptably high” inflation in the short term.

By Michael Ruhl, University of New Mexico – Talk Radio News Service

Judd Gregg: “I made a mistake”

On Thursday afternoon the baseball hit the batter as yet another Department Secretary took flight from the Obama administration. Soon-to-be Secretary of Commerce Judd Gregg, Republican Senator from New Hampshire, withdrew his name from consideration for the Cabinet position 10 days after having been nominated. This is President Obama’s second Commerce Secretary to go down in flames, following New Mexico Governor Bill Richardson’s withdrawal.

In a statement before the press conference, Gregg cited “irreconcilable differences” with the Obama administration in the Economic Recovery Plan and Census handling as the primary reasons for his withdrawal. At his press conference, however, Senator Gregg stated that the position was simply a “bridge too far” for him, and that the Census issue was only “a slight catalyzing issue; it was not a major issue”. Gregg would not elaborate further on the Census issue, and dodged any questions which would shed more light on it.

The Obama Administration has expressed downright confusion as this withdrawal, claiming that they were approached by Gregg, but the Senator himself has a completely different story. He said, “One of the nice things about this business is that everyone has a different recollection of what happened.” Gregg claimed that the Obama administration approached him for the position, and that he “made a mistake” by accepting the position hastily. He continued that holding a Cabinet position would interfere with how he really wants to approach issues. Gregg said that his confidence in President Obama’s Administration caused him to accept the position “without thinking through the implications” of his decision. (01:20)

By Michael Ruhl, University of New Mexico – Talk Radio News Service

Pelosi content with stimulus package

Speaker of the House Nancy Pelosi expresses contentment at the pace at which the Economic Recovery Package was passed. She referred to the vote to pass this bill as "historic".

By Michael Ruhl, University of New Mexico - Talk Radio News Service

Nancy Pelosi: Recovery package is “transformational”

While at a press conference in the Capitol today, Speaker of the House Nancy Pelosi (D-Calif) said that she was very proud of the Economic Recovery Package, calling it “transformational”. Speaker Pelosi stated that all of the votes in Congress are important, but some are historic; She said that this specific vote was historic. Speaker Pelosi stated that she would have liked for the bill to have more Republican support, and would not comment on the number of votes she expects to see for the package in either chamber. When asked if she was worried about future legislative endeavors after the narrow margin by which the bill passed in the Senate, Speaker Pelosi pleaded no contest, simply stating that the bill did pass in the Senate.

By Michael Ruhl, University of New Mexico - Talk Radio News Service