Romney Seeks Key Beltway Endorsements

By Mike Hothi

Presidential hopeful Mitt Romney is in Washington today in an effort to secure key endorsements from Republicans in Congress.

Multiple news outlets, including the Los Angeles Times, have reported that the GOP frontrunner is participating in a series of events in and around Capitol Hill to raise money and persuade lawmakers into backing his campaign.

On Tuesday night, Romney met with Virginia Governor Bob McDonnell (R-Va.) for several fundraisers in Northern Virginia. McDonnell has not endorsed a candidate but his appearance at the event raised eyebrows.

Romney began his day today with a breakfast held at the American Trucking Association, in an event co-hosted by a slew of prominent DC lobbyists and lawmakers that have endorsed him.

Later, the former governor of Massachusetts is to attend an event at the Republican National Committee headquarters that will be headlined by House Speaker John Boehner (R-Ohio). Other attendees include GOP candidates Rep. Michele Bachmann (R-Minn.), former House Speaker Newt Gingrich (R-Ga.), and former New Mexico Governor Gary Johnson.

Romney’s trip comes as some conservative Republicans have cozied up to the idea of a Romney candidacy. The Times noted that Reps. Patrick McHenry (R-N.C.), Virginia Foxx (R-N.C.) and 23 other House members along with four Senators have already endorsed him for President.

However, Romney is currently lacking endorsements from legislators in early battleground states like Iowa, New Hampshire, or South Carolina.

Dodd Applauds Obama’s Financial Regulatory Proposals

Speaking to a group of reporters following the President’s speech on overhauling the nation’s financial regulatory system, Senator Chris Dodd (D-Conn.) called Obama’s plan a “step in the right direction.”

Dodd described the President’s plan, which would give the Federal Reserve the ability to monitor risky investments made by financial companies, as an effort to reinvigorate the marketplace.

Although the Senator admitted that there is “not a lot of confidence in the Fed right now,” he professed that the agency has the necessary experience to properly assume this new responsibility. Dodd added that “sitting around, hoping things will work,” should not be the President’s way of dealing with this nation’s current financial mess.

Congressman Barney Frank (D-Mass.), who joined Dodd in speaking to reporters afterwards, took a swipe at Republicans, accusing them of turning a blind eye over the years as major financial companies made risky investments.

During his speech, President Obama described his plan as a means of “leveling the playing field,” for investors, both big and small. The President stressed his desire to promote free and fair markets by closing loopholes that exist in the current financial system. Specifically, Obama suggested it was time to crack down on intricate financial instruments such as derivatives, which he described as being “so complex, it’s impossible to know their actual value.”

The President also spoke of the need to move the country away from a bubble-based economy, adding that it is the duty of his administration to prevent scenarios in which private innovation negatively impacts the marketplace.

Obama also proposed holding mortgage bankers to higher standards, requiring hedge fund advisors to register with the FCC and creating an independent Consumer Financial Protection Agency to eliminate small print and ‘gotcha’ clauses found in mortgages, credit card and other financial agreements.

The President referred to these proposals as “common sense rules.”

Iraqi Government Official: Iraqi Security Ready for U.S Withdrawal

By Celia Canon- Talk Radio News Service

On Monday, Dr. Rafe Al-Eissawi, Iraq’s deputy prime minister, made a speech at the Carnegie Endowment For International Peace Center in which he addressed the issue of U.S withdrawal from Iraq. Al-Eissawi insists that Iraqi security forces are ready to take over the protection of the country.

Al-Eissawi was optimistic that the Iraqi security forces could meet the requirements expected by the U.S to allow for the American withdrawal of its troops to optimize Iraqi stability and security after the 2010 Iraqi general elections that will determine the new members of the national parliament.

"Let me say this as plainly as I can: by August 31, 2010, our combat mission in Iraq will end," announced U.S. President Barack Obama on February 28.

Speaking on his assessment of the withdrawal, Al-Eissawi said “We consider the Iraqi forces are capable of controlling the situation.”

Iraq has acknowledged and taken measures to fill the vacuum left by the rapid departure of American forces and the gradual dispersion of American influence, Al-Eissawi said. “We are fully aware of the challenges that may take place accompanying this control shift of transition from mixed Iraqi-American to purely Iraqi security forces.”

But Al-Eissawi recognized that the Iraqi security forces’ capacity to take over the security of Iraq would not come immediately but would rather require that the national forces remain under American auspices, saying that Iraq “may need the American force in the next period, focusing more and more on training and some logistic support, which is considered to make a great difference.”

According to Al-Eissawi, the effectiveness of the withdrawal depends upon “The necessity of commitment and implementation of the SOFA (Status of Forces Agreement that provides a framework of cooperation between two countries as one state stations troops in another state) between Iraq and America and the timing of withdrawal of the main troops from the main cities and the capacity building of the Iraqi security forces that will be able to cover the security vacuum that may take place accompanying the withdrawal.”

Pelosi Cautious On Climate Meeting With China

By Celia Canon- Talk Radio News Service

U.S Speaker of the House Nancy Pelosi was reserved in her choice of words today at the Brookings Institution as she reflected on her recent bipartisan trip to China to discuss the communist country’s climate efforts.

“This trip was very important for us because the U.S and China are the biggest emitters of gases and we have to come to terms in order for us to come to a multilateral agreement in Copehagen.” said Pelosi

The U.S delegation made the May trip after an invitation from the Chinese government. The meeting may have also given the U.S an ally against the growing threat that North Korea poses since its alleged nuclear and missile tests.

Bruce Klingner, an analyst for the Heritage Foundation, said that the Obama administration is “trying to press China to be less obstructionist, to allow for a greater punitive measure against North Korean government agencies.”

Why this (the climate crisis) “is important is we see it as a national security issue to reduce our dependence on foreign oil. We see it as an economic issue to create clean energy jobs and to be competitive in our investments and our innovation and technology so that we can be the world leader,” Pelosi said.

Pelosi spoke about how the American delegation prepared for this trip, saying “We arrived in China, we knew what we were going there to do but of course with our message reinforced from what we had just seen (in Alaska) also equipped with a bill that had passed Congress on Thursday which was a historic, momentous legislation on how we would go forward.”

The House Speaker confirmed that China has already demonstrated efforts to take energy consumption and climate into consideration, as she said “The Chinese have done remarkable things... in terms of closing down coal plants that were inefficient, the investments in research and actual construction of buildings in different ways so they'd use less energy in their construction and on the ongoing.”

But Pelosi reported that, despite efforts towards for climate improvement on a certain level, the delegation was met with a certain resistance from their Chinese counterparts with regards to further resolutions.

“What they wanted to be clear to us is that as they were doing this and they were investing in the technologies and the rest... they were going to be developing still, sustainable development with more of an emphasis on the development side,” said Pelosi.

Every year, “600,000 die of pollution in China,” according to Pelosi.

Pelosi: Democrats Stand By The IMF

By Celia Canon- Talk Radio News Service

Despite the uncertainties that Congressional Republican leaders have on the efficacy of the reform of the International Monetary Fund, House Speaker Nancy Pelosi is adamant that “The IMF will have a strong support from the Democrats.”

Pelosi defended the international organization today at her weekly press conference where she also mentioned the success of her recent bipartisan trip to China.

House Minority Leader John Boehner and Senate Minority Whip Eric Cantormay, backed by other House Representatives who fear that Democrats are fusing two very different entities, the IMF and a bill, together, said that "Weighing down this critical legislation with non-defense spending will only drag this process out further and cost it essential Republican support needed for passage."

Cantor added that “We should not be having this discussion. IMF funding has no business being included in the war supplemental bill,” while adding that the funding may result in helping terror-sponsoring states such as Pakistan.

The debate over funding of the IMF has stemmed from President Barack Obama’s announcement at the April Group of 20 meeting that $100 billion will be granted to the IMF as part of the U.S war-bill which should further the fight against the global economic crisis.

Obama also said that the U.S would support the IMF as it sell 400 tons of gold, whilst Pelosi reminded that “It [the IMF] has been reformed so that it will help the poor. They wanted to sell gold, we said you can, but the proceeds have to go to help the poor.”

Responding to Cantor’s allegations, Pelosi said “I don’t know why anyone would say that the money is going to the hands of terrorists, it’s simply not based on facts and is a scare tactic.”

Pelosi also said “There are two contradictory things: one says that one shouldn’t be on war funding, which is our responsibility to support our troops in the war in Iraq, end the war in Iraq, bring our troops home and fight terrorism where is it a threat to our country, which is in Afghanistan, and we know that we have to do that." She added that “The IMF, in its reformed state, can be a force for alleviating the despair amongst people in the world. It’s a very important national security initiative.”

“The issue of the IMF, I think, has strong support on the Democrats’ side; not any support we’re hearing on the Republican side,” Pelosi said.

This war-bill, which involves military and diplomacy costs for Iraq and Afghanistan, will skyrocket to over $100 billion.