Democratic News Chatter 3-31-2009

George Wenschhof Bio

Today, President Barack Obama and the First Lady head to London on the first day of an eight day overseas trip - He will meet with American workers today at the American School in London. Thursday is the G-20 Summit on the world economy. The G-20 is made up of leading industrial and emerging market nations. Together, they represent 80% of world trade and two-thirds of the world population. Time.com has more here.

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Obama's ouster of GM CEO Richard Wagoner has many talking - the removal of the CEO of GM by the President has many questioning as to if this was a proper move to be made by the government. The Dow Jones dropped 250 points yesterday after the announcement by the president. It also has many wondering why this was done for the auto industry, but not the financial industry. Bank executives are now taking notice. The Washington Post has more here.

However, there is no question the auto industry needed to change course. I was in those long gas lines in the early seventies when I was attending undergraduate school and often wondered how long the auto industry would push low mileage Vans and then SUVs to the American consumer. A free market system is great, as long as it does not act in a irresponsible manner that endangers future generations.

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Home prices continue to drop - it has now been 30 straight months of declines and the rate over the last year was 19%. CNN.com has more here. A little over three years ago when local home prices almost doubled overnight, I remember saying this was phony money. Unfortunately, I was right. Sustained low and adjustable interest rates had led sellers to raise the sales prices as they realized the buyer could afford twice as much with such low rates.

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Virginia Governor Tim Kaine (D) signs legislation to allow sale of "Choose Life" specialty license plates - since Michael Steele has become RNC chair he has continuously made gaffes. Now it is Kaine's turn as DNC chair to take heat from some party members. Supporters of a woman's right to choose are upset the Governor approved this legislation. Politico.com has more here.

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Eyes are on Congressional special election in NY today - voters will elect their congressman in the 20th district today as Democrat Scott Murphy faces Republican Jim Tedisco. This special election was necessary after Kirsten Gillibrand (D) who held the seat was named to fill the vacant Hillary Clinton U.S. Senate seat. Polls are showing it is too close to call. You can count on whoever the winner is, their party touting this victory nationwide. TheHill.com has more here.

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Health and Human Services Secretary nominee Kansas Governor Kathleen Sebelius to testify before Senate today - the last of the Obama administration cabinet members will face questions from the Senate Health, Education, Labor and Pensions committee. Senator Ted Kennedy who is chair of the committee is expected to preside over the meeting. Sebelius is expected to stress the importance of health reform now. MSNBC.com has more here.

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