Daily Democratic Wire 8-7-2009

George Wenschhof

Today, President Barack Obama will deliver a speech on the status of the economy - in the afternoon, he will deliver the speech at Fort Myer's Henderson Hall in Arlington, Virginia.

Sunday, the president is off to Mexico for a two days of meetings with Calderon.

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Unemployment drops for first time since 2008 - but, remains high at 9.4%. The numbers reported for the end of September will be key to watch as they will be the first full month after seasonal summer jobs have ended. Bloomberg.com has more here.

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Sotomayor confirmed by 68-31 Senate vote - I predicted yesterday the vote would be in the high sixties in favor. Senator Edward Kennedy (D-Mass.), who is receiving treatment for a cancerous brain tumor was the one absent vote. Sonia Sotomayor becomes the first Hispanic Supreme Court Justice when she is sworn in tomorrow by Chief Justice John Roberts (Let's hope he remembers the words!). MSNBC.com has more here.

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Senate approves 2 Billion more for "Cash for Clunkers" - the vote was 61-37 with only three Democrats in opposition. The original 1 Billion in funding for the program was almost totally spent. TheHill.com has more here.

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Rep. Edolphus Towns (D-NY) received favorable mortgage rates through Countrywide - he is the chair of the House Oversight and Government Reform Committee. Countrywide has since been bought by Bank of America. Senator Chris Dodd (D-Conn.) who is chair of the Senate Banking Committee also received favorable mortgages through Countrywide, but has since refinanced his mortgages. Both are up for reelection next year so expect this to be used against them. Reuters.com has more here.

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