Daily Democratic Wire 9-21-2009

George Wenschhof

Today, President Barack Obama will give a speech on the economy at Hudsen Valley Community College in Troy, New York - he will discuss the need for innovation in the economy and how the Stimulus bill is helping in this area. You can read more here.

Later, Obama heads to New York City to tape a show with David Letterman that will air tonight.

Tomorrow, the President hosts meetings with Israel prime Minister Benjamin Netanyahu and Palestinian Authority President Mahmoud Abbas.

Later in the week, it is the G-20 Summit on the economy being held in Pittsburgh. Here the focus will be on the global economy and how the industrialized nations can work together to avert similar problems in the future. The Wall Street Journal has more here.

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Blue Dog Democrats question need for new consumer protection agency for the financial sector - this new agency is part of the financial regulatory reform sought by Obama. Instead, they look to combine existing agencies. Politico.com has more here.

Senator Chris Dodd (D-Conn.) chair of the senate finance Committee also favors combining several agencies into one. He also is proposing new limits on banks for overdraft fees. MSNBC.com has more here.

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Will anyone responsible for Wall Street collapse ever be held accountable? - Americans continue to wonder this question as they lose their homes to foreclosure and find themselves out of work. While numerous investigations are underway, one year after the financial collapse, no one has been brought to trial. McClatchydc.com has more here.

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U.S. General Stanley McChrystal says more troops needed in Afghanistan to avoid failure - as the Obama administration intensifies discussion on strategy and the need for additional troops, this leak of an internal memo is reported by the Washington Post. You can read it here.

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Lieberman's ideas for climate bill likely to anger environmentalists - Senator Joe Lieberman (I-Conn.) is looking to include money for coal power and nuclear plants in the bill. Politico.com has more here.

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Surprise Move By Specter to Give Democrats 60 in Senate

George Wenschhof Bio

In a move similar to the one made by Senator Joe Lieberman (I-Conn.) prior to the general election in 2006, Senator Arlen Specter (Pa.) has decided to switch parties and become a Democrat.

Many remember Lieberman as the Democratic vice presidential candidate with Al Gore in the 2000 election. After a unsuccessful run for the Democratic party nomination for president in 2004, Lieberman was defeated in the Democratic primary in his bid for reelection to the Senate in 2006. His defeat in the Democratic primary was fueled by his support of the war in Iraq as liberal Democrats opposed continued U.S. presence in Iraq. Lieberman switched to Independent and won reelection to the Senate. He added insult to the Democratic party by supporting Republican presidential candidate John McCain in the 2008 election.

Democratic Leaders realized they would need Lieberman's vote on many key issues, and in spite of the call by many to sanction Lieberman for his actions, the Democratic party only delivered a slight slap on the wrist. They allowed Lieberman to continue to caucus with the Democrats and maintain his chair of the Senate Homeland Security Committee.

Senator Arlen Specter is the longest serving Senator in the state of Pennsylvania. He was first elected as a Republican in 1980. He came under recent fire from his fellow Republicans as he was one of only three Republican Senators who supported President Barack Obama's Stimulus bill. Serious moves were being taken to run a more conservative Republican against him in next year's mid-term elections. Recent polls indicated he was losing to declared Republican challenger; former Representative Pat Toomey.

With this surprise move of changing party affiliation to Democrat, he will be a favorite to win in the general election as many Republicans will vote for him in addition to his newly found Democratic voter friends.

In the meantime, The Republican party angst against Senator Specter has backfired and lead the Democratic party to what appears to be a filibuster proof number of 60 seats in the Senate. When Al Franken is finally seated from Minnesota, he will make 57 elected Democrats in the Senate. Independents Bernie Sanders (Vt.) and Joe Lieberman (Conn.) caucus with the Democrats and make it 59. So, when Specter makes it official he is a Democrat next week, he will be number 60.

While the official announcement by Specter is not until next week, President Obama has already telephoned Senator Specter this morning and welcomed him to the Democratic party.

Politics makes strange bedfellows...

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