Democratic Chatter 3-13-2009

George Wenschhof Bio

Today, President Barack Obama will meet with Paul Volcker and receive a report on the 787 billion Stimulus Plan - Mr. Volcker is a former Federal reserve chair who is presently the chair of the Economic Recovery Board established by Obama. This afternoon, the President is expected to meet with the Press. Time.com has more here.

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Vice President Joe Biden will speak at Union Station today - he will be discussing the positive impact of the stimulus Plan on Amtrak. The Vice President will also swear in Labor Secretary Hilda Solis today. The Washington post has more here.

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How long will Michael Steele survive as RNC Chair? - since narrowly winning the chair of the Republican National Committee after 6 rounds of voting, Mr. Steele has had one misstep after another. While a delight to many Democrats, he has become an embarrassment to the Republican Party. His latest flap took place during an interview with GQ Magazine when he said he favored a woman's choice to an abortion. He went on to say it should be a state decision and not a federal decision. He has since been busy clarifying his statement. CNN.com has more here.

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Another withdraws from consideration for Deputy Director at Treasury - Treasury Secretary Timothy Geithner is having a hard time getting out of the gate. Rodgin Cohen is the third to withdraw from consideration within the last week. Speculation is Geithner is a very good behind the scenes person, but not a good one to be leading the show and facing the spotlight. If this is true, the Obama administration should make a move here quickly as the Treasury Secretary will continue to be in the news daily during the economic crisis. Politico.com has more here.

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FBI raids D.C. office of Chief technology Officer - two individuals were arrested in a investigation of corruption. The head of this agency, Vivek Kundra was named recently by President Obama to be the federal government Chief Information Officer. Kundra is not considered a suspect in the investigation. Reuters.com has more here.

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Chinese Premier Wen Jiabao expresses concern about their investment in U.S. debt - this will certainly cause the Obama administration to listen as the Chinese government has 1 Trillion invested in U.S. debt. Stay tuned as foreign investment in U.S. debt has been a topic for discussion for some time. It is difficult to conduct sincere diplomatic discussions when a country's debt is secured by the country you are talking with on an international relations issue. The NY Times has more here.

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Democratic Chatter 2-6-2009

George Wenschhof Bio

Welcome to Washington, Mr. President - President Barack Obama is finding his first weeks in office to be anything but easy. He has had Cabinet nominees withdraw due to tax issues and others have their confirmations delayed due to questions that should have been addressed during the vetting process.

Now, the 900+ Billion Stimulus bill vote in the Senate is being delayed due to lack of consensus. It was expected to be voted on last night. But, Senate Majority Leader Harry Reid (D-Nev.) could see the writing on the wall and postponed further discussion until today. A major question from both sides of the aisle is the low level of funding in the bill for infrastructure improvement across the country and questions surrounding funding a myriad of other items unrelated to what had originally been proposed.

Reid is saying if the bill does not come to a vote today, he will get the necessary 60 votes on Sunday to call for the vote to pass the bill. Expect many changes and compromises to have transpired overnight. Reuters.com has more here.

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598,000 Jobs lost in January adds urgency to pass Stimulus bill - unemployment now is 7.6%, the highest since September 1992. The number of jobs lost in the last four months now exceeds 2 million. The NY Times has more here.

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President Obama to name Economic Advisory Board today - we reported yesterday that Paul Volcker, a former Treasury Secretary was in a little bit of of a snit as he had not been named to head the special committee appointed by the President to offer advise on getting the country out of the economic mess it is in. Well, today, he gets his time in the spotlight when he appears with the President. Let's hope he and the committee gives good advise. CNN.com has more here.

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On Monday, Treasury Secretary Timothy Geithner will spell out new Economic Stability Plan - this will be a revision of (TARP) the Troubled Assets Relief Program which the remaining 350 Billion was recently authorized by for the Treasury to spend. Expect more help to go to troubled mortgages to help Homeowners with more transparency and accountability to be included in the revisions put forward by Geithner. What is unknown is whether he intends to up the current budgeted amount of 350 Billion and ask Congress for more funds. CNN.com has more here.

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Labor Secretary nominee Hilda Solis confirmation delayed - taxes pop up once again for a nominee for the President's Cabinet. This time it pertains to the husband of the nominee. Solis is already facing opposition due to her support of Labor so this recent issue is not so surprising to have popped up at this late date. Politico.com has more here.

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Supreme Court Justice Ruth Bader Ginsburg has pancreatic cancer - she had surgery yesterday in what has been said to be very early stages of cancer. She is 75 years old. During the Presidential campaign, due to the age of some of the Justices on the Supreme Court, it was often discussed that the next President could easily be responsible for appointing several Supreme Court Justices. Let's hope for a rapid recovery for Ginsburg. The Wall Street Journal has more here.

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Meanwhile, the Minnesota Senate race saga continues - the state mandated recount resulting in the canvassing board verifying Democrat Al Franken the winner by 225 votes. Then incumbent Republican Norm Coleman filed suit asking for additional previously rejected absentee ballots be counted. The court just recently said up to 4800 ballots could be argued to be counted by the Coleman campaign.

Now, the Franken campaign is asking the court for more previously rejected absentee ballots to be counted. The issue of contention is where the ballots are from with some areas favoring conservative and other areas, more liberal candidates. How about just reviewing all the remaining 20,000 rejected absentee ballots? Just a thought. The Minneapolis Star-Tribune has more here.

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Democratic Chatter 2-5-2009

George Wenschhof Bio

Today, President Barack Obama attended the annual National Prayer Breakfast - ThePage.time.com has the text of his speech here. This evening he will speak at the House Democrats annual Retreat in Williamsburg, Virginia.

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Two more Obama Cabinet nominees to face Senate Hearings today - Leon Panetta, the pick to head the CIA will go in front of the Senate Intelligence Committee. He is a former White House Chief of Staff under the Clinton administration and initial questions related to his lack of experience n the intelligence field. Recently. his financial disclosures show he worked for some of the major financial firms that have experienced difficulty of late. The Wall Street Journal has more here.

Hilda L. Solis who was nominated for Labor Secretary should receive a vote in the Senate committee reviewing her appointment today. Republicans had delayed the vote due to their concerns regarding her views on organized labor. The Washington Post has more here.

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A Paul Volcker - Lawrence Summers spat? - Volcker was picked by the president to head a economic advisory group to come up with new ideas for economic recovery for the country. He is upset that Summers, who is the White House Economic Council Director has not been communicating with him. Another distraction at a time when Obama is trying to pass his Stimulus bill. Bloomberg.com has more here.

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Unemployment jumps higher again - the labor department issued reports showing claims are the highest since 1982. The other distressing news is the length of time for the unemployed has increased which also shows how bad the job market has become. Reuters.com has more here.

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Stimulus bill continues to receive scrutiny - with the Senate version of the Stimulus bill now approaching 900 Billion, more and more Americans are questioning the bill. Even with the President's popularity, the bill has become a tough sell as voters are calling their elected officials on the Hill in record numbers. Politico.com has more here.

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Taxpayers at risk of fraud with TARP - that is what a 188 page report says that was prepared by Neil Barofky, a special inspector general, who delivered the report to Congress today. As everyone now knows, a lack of accountability surrounded the issuance of the first 350 Billion from the Troubled Assets Relief Program. TheHill.com has more here.

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