Daily Democratic Wire 1-13-2010

George Wenschhof

Tomorrow, President Barack Obama will unveil his plan to tax Big Banks - this will speed the return of an estimated 120 billion loaned to them from the Troubled Assets Relief Plan (TARP) bill. Also known as the Bailout bill, the bill has come under fire recently amid reports of big banks paying huge bonuses again to employees. the NY Times has more here.

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President Obama to request an additional 33 billion for costs of wars - this is on top of the record 708 billion budget for Defense next year. Time.com has more here.

It's time the U.S. rethink the approach of the "war on terror". Seems the Al-Qaeda type are succeeding in bankrupting the U.S. as the conventional approach to warfare does not work.

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Secretary of State Hillary Clinton offers aid to Haiti - as information is still being received regarding the impact of the 7.0 earthquake which hit Haiti yesterday. the president also expressed his sorrow in a statement released yesterday. The Hawaii Star Bulletin has more here.

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Money pouring into Coakley as election nears in Massachusetts - Unions, and the DSCC are out with ads, the DSCC spending 500,000 and the SEIU spending 685,000. In addition, President Obama and Senator John Kerry (D-Mass.) have sent fundraising emails. The reason is obvious as the Democrats can not lose one seat in the senate and still pass health care legislation. Republican Scott Brown is polling closer than expected. The special election to fill the late Ted Kennedy senate seat will be held Tuesday January 19. TheHill.com has more here.

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Denver Mayor John Hickenlooper says he is in the race for Colorado Governor - this announcement comes within a week of the surprise statement by Governor Ritter (D) he would not be seeking reelection. Interior Secretary Ken Salazar, also rumored to be running, instead endorsed Hickenlooper. Politico.com has more here.

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