Daily Political Wire 12-7-2010

George Wenschhof

President Obama Announces Compromise to Tax Cut extension - no surprises as it contained an extension of all the Bush tax cuts for two years and a 13 month extension of benefits for the long term unemployed. Also included was a 2% payroll tax cut, estate tax goodies and some other middle class tax cuts put in place under the Stimulus bill. FirstRead.com has more here.

Interestingly, early estimates have the cost of this unfunded proposal at between 600 - 800 billion which is equal to the cost of the Stimulus bill.

Liberal Democrats feel President Obama sold them out and should have fought harder. However, the reality is an extension of the cuts for those making $250,000 or less only would not pass in the Senate.

There is talk as many as 40 of the more liberal Democrats in the House will not support the compromise bill. Vice President Joe Biden has been dispatched to the Senate to garner support from Democrats.

Overall, when the liberal Democrats stop their whining, they will find Obama extracted more from the Republicans than he gave, with the main impact being a continued infusion of money into a weak economy, an important move at this point.

Look to see Obama pivot to balancing the budget when he gives his State of The Union address in late January, with a revision of the current tax code being a pivotal component of his remarks.

Obama hinted at this when he announced the compromise yesterday, it was included in the recommendations by the bipartisan deficit reduction committee and federal reserve chair Ben Bernanke said the same Sunday when he appeared on CBS "Sixty Minutes".

Stay Tuned...

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Overall Cost of Bail Out bill only 25 Billion - the much maligned 700 billion bail out bill has been almost entirely paid back in two years. Yesterday, the government sold it's remaining shares of CitiGroup for a 12 billion profit. The Washington Post has more here.

The bail out bill was necessary at the end of 2008 due to mass mismanagement of financial portfolios on Wall Street and the financial sector.

25 billion to avoid another Great depression seems like a small price to pay.

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Palin says No to RNC Chair - Sarah Palin says thanks, but no thanks to the suggestion by the activist group Tea Party Nation. ABC News has more here. Several Republicans have already announced they will challenge RNC chair Michael Steele.

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Waters Wants House Ethics Committee Reviewed - Representative Maxine Waters (D-Calf.) will introduce a resolution in the House. This comes after her ethics trial scheduled for November 29 was called off with no explanation. Afterward, two attorneys on the ethics committee were suspended, again with no explanation. Waters was accused of improper action in regard to a bank receiving bail out funds where her husband owned stock. Politico.com has more here.

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Wikileaks founder Julian Assange Arrested in London - the arrest stems from charges from Sweden relating to a consensual sexual encounter back in August. This incident was reported widely back then and charges were not filed. The NY Times has more here.

Interestingly, the charges in August followed the first release of U.S. military documents by wikileaks.org.

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Daily Political Wire 12-2-2010

George Wenschhof

House to Vote on Rangel Censure Today - the long drawn out process will finally come to a close today. The vote will decide whether to censure Representative Charles Rangel (D-NY) or issue a reprimand, as requested by Rangel. The House ethics committee found Rangel guilty on eleven counts of ethics violations and recommended censure. TheHill.com has more here.

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No Charges for Senator John Ensign (R-Nev.) - the senator had been under investigation for payments his parents made to his mistress and for his role in securing a job for the husband of his mistress. Ensign's lawyers say the Justice Department is no longer investigating him. You can read more here.

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House Ethics Committee Suspends Two Lawyers - they were placed on administrative leave with pay, for actions relating to the ethics investigation of Representative Maxine Waters (D- Calf.). She had been accused of steering bailout funds to a bank where her husband owned stock. Waters trail was to have started last month, but was called off without any explanation. stay Tuned... The NY Times Caucus Blog has more here.

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Knowing When to "Hold or Fold" When it Comes to Tax Cuts - the newly formed four member committee by President Obama charged to resolve the tax issue is already meeting with hopes for a proposal emerging as early as Sunday or Monday.

Meanwhile, the House will vote today to extend the tax cuts for those earning $250,000 or less. A largely symbolic vote, as the Senate will not pass it. FirstRead.com has more here.

The question remains as to what Democrats will be able to extract from Republicans in exchange for extension of all the Bush tax cuts. Stay Tuned...

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Former Republican Secretaries of State Urge Ratification of START Treaty - now we know why Colin Powell was meeting with President Obama recently at the White House. He is joined by four other former secretaries of state urging Republican senators to ratify the current START Treaty with Russia. Their op-ed in the Washington Post today can be read here.

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New "Watered Down" DREAM Act Submitted by Senate Democrats - in spite of a much less controversial bill, it is not expected to receive support during the lame duck session. Politico.com has more here. It is doubtful, more liberal Democrats in the House would pass this version anyway.

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Daily Political Wire 11-20-2010

George Wenschhof

Sunday morning "Talking Heads" lineup - below, Politico.com has a preview of the morning shows. The discussion will be heavily focused on foreign policy as Secretary of State Hillary Clinton and Chairman of the Joint Chiefs of Staff Admiral Mike Mullen fan out to appear and push for the ratification of the START treaty with Russia during the lame duck session of congress.

Also, sure to be discussed is the recent NATO agreement to end involvement in Afghanistan by the end of 2014 and the U.S. offer of 3 billion in stealth fighter planes to Israel in exchange for a ninety day building moratorium in the disputed West Bank.



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Federal Elections Commission Dismisses Complaint against Republican Senator John Ensign (Nev.) - a complaint had been filed against him in regard to the $96,000 his parents gave a campaign worker who was the former mistress of the Senator.

It was determined that the money was a gift and not a campaign contribution. TPM.com has more here.

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House Ethics Committee Cancels Trial for Representative Maxine Waters (D-Calf.) - only citing new evidence became available which caused them to refer the case back to the subcommittee who originally recommended the trial. The trial had been scheduled to begin November 29.

Waters claims this proves the evidence was weak in regard to her case. She was questioned in regard to her acting on behalf of a Bank receiving bail out funds which her husband owned stock. TheHill.com has more here.

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Representative Steve Israel (D-NY) to be new DCCC Chair - he was named by House Speaker Nancy Pelosi (D-Calf.) to replace Chris Van Hollen (D-Md.) who served as chair for the last two election cycles.

Israel will be tasked at regaining the majority in the House. The NY Times Caucus Blog has more here.

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Senate Settles Black Farmers and American Indian Lawsuits for 4.55 Billion - the long standing lawsuits were finally settled yesterday. Black Farmers had argued they had been denied or underpaid aid and American Indian trust funds had been mismanaged.

It now goes to the House for a vote prior to being signed by President Obama. The NY Times has more here.

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Daily Political Wire 9-17-2010

George Wenschhof

Today, President Obama will announce Elizabeth Warren as special adviser to new Consumer Finance Protection Agency - Warren was long rumored to head the new agency established under the recently passed financial reform bill. Far left leaning Democrats are expected to be happy with the announcement made today from the White House Rose Garden.

She was not expected to be confirmed in the Senate as Republicans were sure to block her appointment. The president will get around this by naming her as a special assistant to the Treasury Secretary today. Politico.com has more here.

This move by the president will become red meat in the upcoming mid term elections.

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New Quinnipiac poll has Kasich 17 points up on Strickland in Governor's race - in a battleground state that has been a barometer in recent elections. Democratic Governor Ted Strickland has fallen 17 points behind Republican John Kasich 54-37%. You can read more details from the poll here.

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Retiring Democratic Connecticut Senator Chris Dodd gives Republicans credit on their term limits system for committee chairmen - Republicans limit chairmen or ranking positions to six years, providing for more diversity. Dodd had to wait 27 years before he was named chair of the Senate Banking Committee. Once appointed to chair of a committee, Democrats can and usually do serve indefinitely or until they lose election. FirstRead.com has more here.

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O'Donnell - Coons meet in first debate - Just two days following her upset of Mike Castle in the Delaware Republican Senate primary. She faced Democratic candidate Chris Coons. Early analysis was a break even debate with Coons showing more poise. TheHill.com has more here.

This race is now considered a toss up in a strong Democratic state long represented by Vice president Joe Biden. His son Beau, was his presumptive successor and a place keeper was appointed to serve the remainder of Joe Biden's term in the senate when he became Vice President. Beau's decision not to run may cost the Democrats a seat. Stay tuned..

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House Minority Leader John Boehner (R-Ohio) set to unveil new "Contract with America" - in an attempt to capture the magic Newt Gingrich created back in the 1994 elections. However, unlike in 1994, when Republican candidates signed the pledge, this time they will not be asked to sign it. You can read more here.

The question Democrats and American voters should ask is why is this being announced less than seven weeks prior to the elections and why haven't Republicans been working to solve the problems facing the nation over the last two years.

Will the new "contract with America" have success and resonate with voters or will the "party of no" be what voters remember when they go to the polls on November 2. Republicans are assured, if past historical data is repeated, of picking up seats in the House and Senate. Whether the Republican wins result in control of the House and Senate remains to be seen.

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House Ethics Committee may wait until after Election to Try Rangel and Waters - the high profile ethics trials for Representatives Charles Rangel (D-NY) and Maxine Water (D-Calf.) are not close to beginning. The latest scuttlebutt is the trial will be pushed back to after the elections on November 2 and possible until after the new Congress is sworn in. Politico.com has more here.

Republicans were hopeful the trials would take place prior to the elections.

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Palin to headline Iowa Republican's Reagan Dinner - tonight, she will speak to the estimated 1000 attendees of the annual Republican dinner. A move, by the former Governor of Alaska and tea party favorite, seen to be further evidence of her intention to run for president in 2012. CNN.com has more here.

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Daily Political Wire 8-10-2010

George Wenschhof

House back in Session - House Speaker Nancy Pelosi called the house back into session from their August recess to pass the 26.1 billion aid to states bill and a 600 million bill which will increase security along the U.S. and Mexican border.

The Senate had passed both bills last week, but after the House had already adjourned. Both bills are expected to passed the House today. You can read more here.

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Two Primaries and a Run Off Election Today - as I mentioned in an earlier post, the Georgia run off is for the Republican candidate for Governor who will face Democratic Roy Barnes. Karen Handel is favored to beat Nathan Deal.

In Connecticut, the senate race to fill the seat from retiring Chris Dodd (D) will most likely end up a match between Republican Linda McMahon who has spent 22 million of her own money against Democrat Richard Blumenthal who has had his share of gaffes in the press.

Out in Colorado, watch the senate race to fill the seat vacated by Ken Salazar, when he was appointed Secretary of the Interior. Michael Bennet, who was appointed to fill Salazar's seat has strong Democratic opposition in Andrew Romanoff. Romanoff is backed by former President Bill Clinton and Bennet has the support of President Obama. It will be interesting to see how much Clinton's support helps Romanoff. You can read more here.

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Federal Reserve meets today as economy slows - economists around the world will be waiting to see what is announced after the meeting. Federal Reserve chair Ben Bernanke is faced with the dangers of deflation hitting the U.S., resulting in another recession. Another round of stimulus spending will not pass Congress at this point, so stay tuned to see what actions the Federal Reserve will take. The NY Times has more here.

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Waters joins Charles Rangel (D-NY) as defendants in front of House Ethics committee - as expected, charges were formally filed against Representative Maxine Waters (D-Calf.). She is accused of helping OneUnited Bank, in which her husband owned stock, in receiving bail out funds.

Democratic leaders are spinning their changes in ethics rules and procedures is what led to these open trials and that the system is now working. Unfortunately, with two high profile Democratic Representatives facing ethics charges prior to the mid term elections, it will not help Democrats. TheHill.com has more here.

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Plane crashes in Alaska, believed to have former Alaska senator ted Stevens on board - rescuers are still trying to reach the remote site in southwest Alaska, where a plane believed to have eight passengers has crashed. Ted Stevens became known as the "king of pork" with his infamous "Bridge to nowhere". He also lost reelection after he was found guilty of several counts of corruption. The charges were later dropped by Attorney General Eric Holder due to misconduct by prosecutors. AP has more here.

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Sunday Morning "Talking Heads" Guests 2-15-2009

George Wenschhof Bio

Hard to believe with all that has been going on, this Sunday will only be the fourth Sunday since Barack Obama was sworn in as President of the United States. As always, expect lively discussion on the issues with the "Talking Heads" on television Sunday morning.

You can count on the Stimulus bill receiving the bulk of the attention. The 787 billion compromise bill that came out of conference committee was passed by the House on Friday with a vote of 246-183, once again receiving not one Republican vote. The senate passed the bill Friday night with a vote of 60 to 38. It is expected to be signed into law by President Obama on Monday.

Expect discussion to focus on the strategy employed by the President, the content of the bill, and whether it can be expected to help pull the country out of a severe depression. Is there enough money for needed infrastructure improvements? Were there too many "pork' projects included in the bill? Is the aid to the states enough? Will the programs funded in the bill create enough jobs in a quick enough manner to have a positive impact on unemployment? How about the tax cuts - were they big enough to have any impact?

When the pundits finish dissecting the America Recovery and Reinvestment Act, expect the shift of focus to zero in on the Cabinet appointments by the President. Just when everyone thought the withdrawal by Tom Daschle from consideration for Secretary of Health and Human Services was a severe blow to the President, Senator Judd Gregg (R-NH) made it 0-2 in Obama nominations for Commerce Secretary. Expect the vetting process by the Obama administration to receive attention this morning. White House counsel Larry Craig has now assumed control of the vetting process so let's see if there will be improvement.

On the foreign policy front, the President has sent special envoys and the Secretary of State all across the globe. So discussion could range from Pakistan/Afghanistan, Iraq and Iran, to the Middle East and Asia.

So grab your coffee or tea and settle in for some good political discussion this morning. Remember to check your local listings for time and channel. Following is a list of the morning shows with their scheduled guests.

NBC "Meet The Press" - Dick Gregory will interview Senior White House Adviser, David Axelrod. The roundtable will include Ron Brownstein, Eugene Robinson, Roger Simon, and Kimberly Strassel.

ABC "This Week" - George Stephanopoulos will interview Senators Charles Schumer (D-NY) and Lindsey Graham (R-SC). Also appearing will be Representatives Maxine Waters (D-Calf.) and Peter King (R-NY).

The roundtable discussion will include Donna Brazile, George Will, Cokie Roberts, and Sam Donaldson.

CBS "Face The Nation" - Bob Schieffer will interview White House Press Secretary Robert Gibbs. Also appearing will be Senator Richard Shelby (R-Al) and Representative Barney Frank (D-Ma.).

Fox News Sunday - Chris Wallace will also have Senior White House Adviser David Axelrod. He will also interview Google CEO Eric Schmidt and Economist Mark Zandi.

CNN "State of The Union" - John King will also interview White House Press Secretary Robert Gibbs. He will also have on his show Senator John McCain (R-Az.) and Gwen Ifill.

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