Thursday
Apr302009
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.”
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.”
Ambulance Called In: Health Care Reform In Serious Condition
Senate Democrats are pushing to get a health care reform bill moving forward and closer to passage. Senator Chris Dodd (D-Conn.) and Senator Patty Murray (D-Wash.) held a press conference Wednesday to discuss the Senate Health, Education, Labor, and Pensions Committee’s efforts to improve the healthcare system. Dodd is leading the committee’s mark-up of the health reform bill and said over 200 amendments to the bill have been made in the past five days.
The Senators appeared in front of an ambulance that featured the words "Pass Health Care Reform." The ambulance from Families USA included a ticker of the number of families losing health care coverage.
“The present situation on health care is not just unacceptable, it’s unsustainable from an economic standpoint. You cannot have as much of our gross domestic product be consumed by health care costs [that are] mounting everyday in this nation and expect our economy to thrive and prosper in the years ahead. This is the issue that makes our economic recovery, in the long term, the most difficult,” said Dodd.
Murray said reform is not just for the uninsured since families with health care coverage are having to pay for those without. The current system is not working, according to Murray, who assured that Congress will “do what’s right for America.”
Dodd said he would like to have the bill out of the committee before the Senate’s July 4th recess, but noted that doing so may pose a challenge.
“I would love to complete all of it but realistically it may be impossible to get all of that done,” said Dodd. “I hope during the 4th of July break what we have done already could be melded with what the Finance Committee is dealing with so they don’t lose the opportunity of time over the following week.”