Had a bit of a chat tonight with someone on Facebook who I haven’t seen since 1981, when we graduated high school in Pittsburgh. He still lives in Pittsburgh, went to college in Pittsburgh. Pittsburgh is someplace special, but it’s good to gain perspective.

I love Pittsburgh, but, for a number of reasons, I’m glad I moved years ago. Pittsburgh is still very, very segregated, racially and socio-economically. My former high school classmate is stuck in Supply-Side Voodoo Economics land, “Imagine how good our economy will be when everyone is out of work! Reduce government spending, cut taxes, encourage entrepreneurship. That’s how to create jobs. Unemployment checks…please!”

Reduce government spending — okay, but what government spending? Cut taxes? How will we pay for everything President George W. Bush spent, especially when we’re still paying for everything President Ronald Reagan spent?

Want to get to know the unemployed a bit? Read what they’re writing here, at Unemployed-Friends. Unemployed Friends is a busy, busy forum. These are real people out of work because Republicans trashed the economy. Pure and simple.

And they want to work.

The G.O.P. is wrong wrong wrong for the economy. Always have been. Always will be.

From The Nation:

No state in the union has been more firmly wedded to the oil and gas industry than Louisiana. No more zealous preachers of the clean oil gospel can be found than the state’s politicians, who were elected by oil money (at the high end of industry campaign funding) and have defended the industry from regulation (including wetland protections), reduced its royalties with tax breaks and "royalty holidays" (thereby depriving the US Treasury of some $53 billion in revenues from existing offshore leases) and beaten the drums for opening the Atlantic Coast and the Arctic National Wildlife Refuge to oil development… because Louisiana’s experience showed oil and the environment to be so compatible. State brochures feature pelicans and oil platforms against the setting sun. The largest exhibit in New Orleans’s Audubon Aquarium of the Americas contains the base of an oil rig, around which swim contented fish, framed by the logos of Shell, Chevron and BP. We have improved on Eden.

The real story was always otherwise; it was just rarely told. Oil was first found in Louisiana a hundred years ago, and the finds swiftly moved south to the coastal zone. Oil companies appropriated the coastal parishes, most notoriously Plaquemines, ground zero for the BP slick; Texaco’s leases in Plaquemines were arranged by the parish district attorney, who conveniently reported only part of the proceeds to the parish police jury and kept the rest (a fact that is emerging only after his death, in a family feud). Local politicians in their pockets, Texaco et al. had one remaining problem: getting men and equipment to the drill sites and laying pipelines to carry off the gold. In the companies’ way were some 5 million acres of coastal marsh, one of the most biologically productive zones in North America.

The solution was soon to come: floating dredges, which would dig canals to the wellheads and more canals for the pipelines. These dredges have worked nonstop ever since. They have ripped through the wetlands of southern Louisiana like bulldozers, severing bayous, drowning adjacent marshes, draining others and introducing salt water from the Gulf of Mexico that sears the plant roots, at which point they disintegrate and the coastal marsh system, made up of billions of stems and roots of living things, falls apart like wet cardboard. There were alternative means of access, but industry rejected them. It could also have backfilled the canals when the job was done, but this too was rejected. The reasons were remarkably like BP’s: those approaches would take time, cost money.

The dredging was not occasional, or here or there. It was pandemic. The industry has laced 8,000 miles of canals and pipelines through the Louisiana wetlands, each one eroding laterally over time, less an assault at this point than a cancer. They are supported by larger navigation canals, requested by the industry and built by the ever-willing Army Corps of Engineers. One such canal, the Mississippi River Gulf Outlet, after killing off 39,000 acres of forest and wetlands between New Orleans and the gulf, ushered Hurricane Katrina right into the city. If you drive down any bayou road in southern Louisiana, you will see marsh grasses out the window. If you fly over them in a plane and look down, you see something that looks like northern New Jersey: water roads and open water through isolated patches of green. The next time you fly over, there will be even less green. We have been losing twenty-five square miles of coastal Louisiana every year, in major part to these canals, to serve the oil and gas industry, which has made tidy sums in the bargain. When I last looked, six oil and energy corporations were listed in the world’s top ten.

And there’s more. Consider this:

Louisiana, the state most vulnerable to climate change and sea level rise, leads the charge against EPA regulation of carbon dioxide (letters of opposition from no fewer than four state agencies and the governor, which must be a record) and the president’s climate change bill.

Now the oil comes home.

Yes, I cried a bit. Now my Mom and Dad don’t have to worry about losing their health insurance and not getting another policy because of pre-existing conditions. That’s what I thought of first.

From the New York Times:

Congress gave final approval on Sunday to legislation that would provide medical coverage to tens of millions of uninsured Americans and remake the nation’s health care system along the lines proposed by President Obama.

By a vote of 219 to 212, the House passed the bill after a day of tumultuous debate that echoed the epic struggle of the last year. The action sent the bill to President Obama, whose crusade for such legislation has been a hallmark of his presidency.

Democrats hailed the vote as historic, comparable to the establishment of Medicare and Social Security and a long overdue step forward in social justice. “This is the civil rights act of the 21st century,” said Representative James E. Clyburn of South Carolina, the No. 3 Democrat in the House.

From the Chicago Sun-Times:

Summoned to success by President Barack Obama, the Democratic-controlled Congress approved historic legislation Sunday night extending health care to tens of millions of uninsured Americans and cracking down on insurance company abuses, a climactic chapter in the century-long quest for near universal coverage.

Widely viewed as dead two months ago, the Senate-passed bill cleared the House on a 219-212 vote, with Republicans unanimous in opposition.

Congressional officials said they expected Obama to sign the bill as early as Tuesday.

A second measure — making changes in the first — was lined up for passage later in the evening. That measure would go to the Senate, where Democratic leaders said they had the votes to pass it.

Crowds of protesters outside the Capitol shouted "just vote no" in a futile attempt to stop the historic vote taking place inside a House packed with lawmakers and ringed with spectators in the galleries above.

Across hours of debate, House Democrats predicted the central bill, costing $940 billion over a decade, would rank with other great social legislation of recent decades.

From the Chicago Tribune:

Delivering a hard-fought victory in President Barack Obama’s year-long pursuit of a national healthcare overhaul, a divided House tonight narrowly voted to approve a Senate-passed healthcare bill which both supporters and opponents call historic in its sweep.

The 219-212 vote will deliver to the president’s desk an initiative for which he has fought on Capitol Hill and campaigned across the country: A healthcare bill that he finally can sign.

This was the first step of a two-part drama unfolding in the House this evening, with another late vote expected soon on a package that reconciles differences between this Senate-passed and now House-approved bill and another measure which the House approved in November.

Together, the two bills would present the president with a long-sought triumph for the signature domestic agenda of his presidency, a bid to offer health insurance to an estimated 32 million Americans who are uninsured and improve the coverage of those with insurance.

The second measure, also expected to pass the House tonight, will have to go to the Senate, where leaders hope to approve it by a simple majority vote under a process of "budget reconciliation.” Any changes made in the Senate, however, will return that legislation to the House before the president can sign the second bill.

"I know this bill is complicated, but it’s also very simple,” said House Majority Leader Steny Hoyer (D-Md.) during the final debate. "Illness and infirmity are universal, but we are stronger against them together than we are alone…. In that shared strength is our nation’s strength.”

"Tonight, we will make history for our country and progress for the American people,” House Speaker Nancy Pelosi (D-Calif.) said in the leadership’s closing argument. Crediting Obama for his "unwavering commitment to healthcare for all Americans,” the speaker said "this legislation… if I had one word to describe it tonight, it would be opportunity.”

Washington, D.C.–March 3, 2010 – 1:50 P.M. EST

THE PRESIDENT: Thank you so much, all of you, for joining us today. And I want to thank Julie, Barbara, Roland, Stephen, Renee, and Christopher, standing behind me — physicians, physicians assistants, and nurses who understand how important it is for us to make much needed changes in our health care system.

I want to thank all of you who are here today. I want to specially recognize two people who have been working tirelessly on that — on this effort, my Secretary of Health and Human Services, Kathleen Sebelius — (applause) — as well as our quarterback for health reform out of the White House, Nancy-Ann DeParle. (Applause.)

We began our push to reform health insurance last March, in this room, with doctors and nurses who know the system best. And so it’s fitting to be joined by all of you as we bring this journey to a close.

Last Thursday, I spent seven hours at a summit where Democrats and Republicans engaged in a public and very substantive discussion about health care. This meeting capped off a debate that began with a similar summit nearly one year ago. And since then, every idea has been put on the table. Every argument has been made.

Everything there is to say about health care has been said — (laughter) — and just about everybody has said it. (Laughter.) So now is the time to make a decision about how to finally reform health care so that it works, not just for the insurance companies, but for America’s families and America’s businesses.

Now, where both sides say they agree is that the status quo is not working for the American people. Health insurance is becoming more expensive by the day. Families can’t afford it. Businesses can’t afford it. The federal government can’t afford it. Smaller businesses and individuals who don’t get coverage at work are squeezed especially hard. And insurance companies freely ration health care based on who’s sick and who’s healthy; who can pay and who can’t. That’s the status quo. That’s the system we have right now.

Democrats and Republicans agree that this is a serious problem for America. And we agree that if we do nothing -– if we throw up our hands and walk away -– it’s a problem that will only grow worse. Nobody disputes that. More Americans will lose their family’s health insurance if they switch jobs or lose their job. More small businesses will be forced to choose between health care and hiring. More insurance companies will deny people coverage who have preexisting conditions, or they’ll drop people’s coverage when they get sick and need it most. And the rising cost of Medicare and Medicaid will sink our government deeper and deeper and deeper into debt. On all of this we agree.

So the question is, what do we do about it?

On one end of the spectrum, there are some who’ve suggested scrapping our system of private insurance and replacing it with a government-run health care system. And though many other countries have such a system, in America it would be neither practical nor realistic.

On the other end of the spectrum, there are those, and this includes most Republicans in Congress, who believe the answer is to loosen regulations on the insurance industry — whether it’s state consumer protections or minimum standards for the kind of insurance they can sell. The argument is, is that that will somehow lower costs. I disagree with that approach. I’m concerned that this would only give the insurance industry even freer rein to raise premiums and deny care.

So I don’t believe we should give government bureaucrats or insurance company bureaucrats more control over health care in America. I believe it’s time to give the American people more control over their health care and their health insurance. I don’t believe we can afford to leave life-and-death decisions about health care to the discretion of insurance company executives alone. I believe that doctors and nurses and physician assistants like the ones in this room should be free to decide what’s best for their patients. (Applause.)

Now, the proposal I put forward gives Americans more control over their health insurance and their health care by holding insurance companies more accountable. It builds on the current system where most Americans get their health insurance from their employer. If you like your plan, you can keep your plan. If you like your doctor, you can keep your doctor. I can tell you as the father of two young girls, I would not want any plan that interferes with the relationship between a family and their doctor.

Essentially, my proposal would change three things about the current health care system. First, it would end the worst practices of insurance companies. No longer would they be able to deny your coverage because of a preexisting condition. No longer would they be able to drop your coverage because you got sick. No longer would they be able to force you to pay unlimited amounts of money out of your own pocket. No longer would they be able to arbitrarily and massively raise premiums like Anthem Blue Cross recently tried to do in California — up to 39 percent increases in one year in the individual market. Those practices would end.

Second, my proposal would give uninsured individuals and small business owners the same kind of choice of private health insurance that members of Congress get for themselves — because if it’s good enough for members of Congress, it’s good enough for the people who pay their salaries. (Applause.)

The reason federal employees get a good deal on health insurance is that we all participate in an insurance market where insurance companies give better coverage and better rates, because they get more customers. It’s an idea that many Republicans have embraced in the past, before politics intruded.

And my proposal says that if you still can’t afford the insurance in this new marketplace, even though it’s going to provide better deals for people than they can get right now in the individual marketplace, then we’ll offer you tax credits to do so — tax credits that add up to the largest middle-class tax cut for health care in history. After all, the wealthiest among us can already buy the best insurance there is, and the least well off are able to get coverage through Medicaid. So it’s the middle class that gets squeezed, and that’s who we have to help.

Now, it is absolutely true that all of this will cost some money — about $100 billion per year. But most of this comes from the nearly $2 trillion a year that America already spends on health care — but a lot of it is not spent wisely. A lot of that money is being wasted or spent badly. So within this plan, we’re going to make sure the dollars we spend go towards making insurance more affordable and more secure. We’re going to eliminate wasteful taxpayer subsidies that currently go to insurance and pharmaceutical companies; set a new fee on insurance companies that stand to gain a lot of money and a lot of profits as millions of Americans are able to buy insurance; and we’re going to make sure that the wealthiest Americans pay their fair share on Medicare.

The bottom line is our proposal is paid for. And all the new money generated in this plan goes back to small businesses and middle-class families who can’t afford health insurance. It would also lower prescription drug prices for seniors. And it would help train new doctors and nurses and physician assistants to provide care for American families.

Finally, my proposal would bring down the cost of health care for millions — families, businesses, and the federal government. We have now incorporated most of the serious ideas from across the political spectrum about how to contain the rising cost of health care — ideas that go after the waste and abuse in our system, especially in programs like Medicare. But we do this while protecting Medicare benefits, and extending the financial stability of the program by nearly a decade.

Our cost-cutting measures mirror most of the proposals in the current Senate bill, which reduces most people’s premiums and brings down our deficit by up to a trillion dollars over the next two decades — brings down our deficit. Those aren’t my numbers; those are the savings determined by the Congressional Budget Office, which is the Washington acronym for the nonpartisan, independent referee of Congress in terms of how much stuff costs. (Laughter.)

So that’s our proposal. This is where we’ve ended up. It’s an approach that has been debated and changed and I believe improved over the last year. It incorporates the best ideas from Democrats and Republicans — including some of the ideas that Republicans offered during the health care summit, like funding state grants on medical malpractice reform, and curbing waste and fraud and abuse in the health care system. My proposal also gets rid of many of the provisions that had no place in health care reform — provisions that were more about winning individual votes in Congress than improving health care for all Americans.

Now, despite all that we agree on and all the Republican ideas we’ve incorporated, many — probably most — Republicans in Congress just have a fundamental disagreement over whether we should have more or less oversight of insurance companies. And if they truly believe that less regulation would lead to higher quality, more affordable health insurance, then they should vote against the proposal I’ve put forward.

Now, some also believe that we should, instead of doing what I’m proposing, pursue a piecemeal approach to health insurance reform, where we tinker around the edges of this challenge for the next few years. Even those who acknowledge the problem of the uninsured say we just can’t afford to help them right now — which is why the Republican proposal only covers 3 million uninsured Americans while we cover over 31 million.

The problem with that approach is that unless everyone has access to affordable coverage, you can’t prevent insurance companies from denying coverage based on preexisting conditions; you can’t limit the amount families are forced to pay out of their own pockets. The insurance reforms rest on everybody having access to coverage.

And you also don’t do anything about the fact that taxpayers currently end up subsidizing the uninsured when they’re forced to go to the emergency room for care, to the tune of about a thousand bucks per family. You can’t get those savings if those people are still going to the emergency room. So the fact is, health reform only works if you take care of all of these problems at once.

Now, both during and after last week’s summit, Republicans in Congress insisted that the only acceptable course on health care reform is to start over. But given these honest and substantial differences between the parties about the need to regulate the insurance industry and the need to help millions of middle-class families get insurance, I don’t see how another year of negotiations would help.

Moreover, the insurance companies aren’t starting over. They’re continuing to raise premiums and deny coverage as we speak. For us to start over now could simply lead to delay that could last for another decade, or even more. The American people, and the U.S. economy, just can’t wait that long. So, no matter which approach you favor, I believe the United States Congress owes the American people a final vote on health care reform. (Applause.)

We have debated this issue thoroughly, not just for the past year but for decades. Reform has already passed the House with a majority. It has already passed the Senate with a supermajority of 60 votes. And now it deserves the same kind of up or down vote that was cast on welfare reform, that was cast on the Children’s Health Insurance Program, that was used for COBRA health coverage for the unemployed, and, by the way, for both Bush tax cuts — all of which had to pass Congress with nothing more than a simple majority.

I, therefore, ask leaders in both houses of Congress to finish their work and schedule a vote in the next few weeks. From now until then, I will do everything in my power to make the case for reform. (Applause.) And I urge every American who wants this reform to make their voice heard as well — every family, every business, every patient, every doctor, every nurse, every physician’s assistant. Make your voice heard.

This has been a long and wrenching debate. It has stoked great passions among the American people and their representatives. And that’s because health care is a difficult issue. It is a complicated issue. If it was easy, it would have been solved long ago. As all of you know from experience, health care can literally be an issue of life or death. And as a result, it easily lends itself to demagoguery and political gamesmanship, and misrepresentation and misunderstanding.

But that’s not an excuse for those of us who were sent here to lead. That’s not an excuse for us to walk away. We can’t just give up because the politics are hard. I know there’s been a fascination, bordering on obsession, in this media town about what passing health insurance reform would mean for the next election and the one after that. How will this play? What will happen with the polls? I will leave it to others to sift through the politics, because that’s not what this is about. That’s not why we’re here.

This is about what reform would mean for the mother with breast cancer whose insurance company will finally have to pay for her chemotherapy. This is about what reform would mean for the small business owner who will no longer have to choose between hiring more workers or offering coverage to the employees she has. This is about what reform would mean for middle-class families who will be able to afford health insurance for the very first time in their lives and get a regular checkup once in a while, and have some security about their children if they get sick.

This is about what reform would mean for all those men and women I’ve met over the last few years who’ve been brave enough to share their stories. When we started our push for reform last year, I talked to a young mother in Wisconsin named Laura Klitzka. She has two young children. She thought she had beaten her breast cancer but then later discovered it had spread to her bones. She and her husband were working and had insurance, but their medical bills still landed them in debt. And now she spends time worrying about that debt when all she wants to do is spend time with her children and focus on getting well.

This should not happen in the United States of America. And it doesn’t have to. (Applause.)

In the end, that’s what this debate is about. It’s about what kind of country we want to be. It’s about the millions of lives that would be touched and, in some cases, saved by making private health insurance more secure and more affordable.

So at stake right now is not just our ability to solve this problem, but our ability to solve any problem. The American people want to know if it’s still possible for Washington to look out for their interests and their future. They are waiting for us to act. They are waiting for us to lead. And as long as I hold this office, I intend to provide that leadership. I do not know how this plays politically, but I know it’s right. (Applause.)

And so I ask Congress to finish its work, and I look forward to signing this reform into law.

Thank you very much, everybody. Let’s get it done. (Applause.)

END
2:09 P.M. EST

Source: whitehouse.gov

From the Wall Street Journal:

Sen. Christopher S. Bond regularly railed against President Obama’s economic stimulus plan as irresponsible spending that would drive up the national debt. But behind the scenes, the Missouri Republican quietly sought more than $50 million from a federal agency for two projects in his state.

Mr. Bond was not alone. More than a dozen Republican lawmakers, while denouncing the stimulus to the media and their constituents, privately sent letters to just one of the federal government’s many agencies seeking stimulus money for home-state pork projects.

The letters to the U.S. Department of Agriculture (USDA), obtained through the Freedom of Information Act, expose the gulf between lawmakers’ public criticism of the overall stimulus package and their private lobbying for projects close to home.

“It’s not illegal to talk out of both sides of your mouth, but it does seem to be a level of dishonesty troubling to the American public,” said Melanie Sloan, executive director of the watchdog group Citizens for Responsibility and Ethics in Washington.

Some in the GOP are working to steer money to their home states in a backhanded manner:

But the USDA letters also reveal a more discreet way for lawmakers to try to steer money to home-state projects.

Several Republicans who sent letters to the USDA for home-state projects seeking an infusion of stimulus cash are facing competitive re-election races.

Rep. Joe Wilson, South Carolina Republican who became famous after yelling, “You lie,” during Mr. Obama’s addresses to Congress in September, voted against the stimulus. Nonetheless, Mr. Wilson elbowed his way into the rush for federal stimulus cash in a letter he sent to Mr. Vilsack on behalf of a foundation seeking funding.

“We know their endeavor will provide jobs and investment in one of the poorer sections of the Congressional District,” he wrote to Mr. Vilsack in the Aug. 26, 2009, letter.

So Joe “You lie!” Wilson knows the Democrats are on the right track, that their efforts will provide jobs. And that would be especially nice for Mr. Wilson around election time.

Imagine that.

More GOP hypocrisy at the WSJ

Nod to Jed Lewison at the Daily Kos for this, and to Americablog for the original nod.

Washington, D.C.–January 30, 2010.

At this time last year, amidst headlines about banks on the verge of collapse and job losses of 700,000 a month, we received another troubling piece of news about our economy. Our economy was shrinking at an alarming rate – the largest six-month decline in 50 years. Our factories and farms were producing less; our businesses were selling less; and more job losses were on the horizon.

One year later, according to numbers released this past week, this trend has reversed itself. For the past six months, our economy has been growing again. And last quarter, it grew more quickly than at any time in the past six years.

This is a sign of progress. And it’s an affirmation of the difficult decisions we made last year to pull our financial system back from the brink and get our economy moving again.

But when so many people are still struggling – when one in ten Americans still can’t find work, and millions more are working harder and longer for less – our mission isn’t just to grow the economy. It’s to grow jobs for folks who want them, and ensure wages are rising for those who have them. It’s not just about improvements we see in quarterly statistics, but ones people feel in their daily lives – a bigger paycheck; more security; the ability to give your kids a decent shot in life and still have enough to retire one day yourself.

That’s why job creation will be our number one focus in 2010. We’ll put more Americans back to work rebuilding our infrastructure all across the country. And since the true engines of job creation are America’s businesses, I’ve proposed tax credits to help them hire new workers, raise wages, and invest in new plants and equipment. I also want to eliminate all capital gains taxes on small business investment, and help small businesses get the loans they need to open their doors and expand their operations.

But as we work to create jobs, it is critical that we rein in the budget deficits we’ve been accumulating for far too long – deficits that won’t just burden our children and grandchildren, but could damage our markets, drive up our interest rates, and jeopardize our recovery right now.

There are certain core principles our families and businesses follow when they sit down to do their own budgets. They accept that they can’t get everything they want and focus on what they really need. They make tough decisions and sacrifice for their kids. They don’t spend what they don’t have, and they make do with what they’ve got.

It’s time their government did the same. That’s why I’m pleased that the Senate has just restored the pay-as-you-go law that was in place back in the 1990s. It’s no coincidence that we ended that decade with a $236 billion surplus. But then we did away with PAYGO – and we ended the next decade with a $1.3 trillion deficit. Reinstating this law will help get us back on track, ensuring that every time we spend, we find somewhere else to cut.

I’ve also proposed a spending freeze, so that as we increase investments in things we need, like job creation and middle class tax cuts – we cut spending on those we don’t, like tax cuts for oil companies and investment fund managers, and programs that are redundant, obsolete, or simply ineffective. Spending related to Medicare, Medicaid, and Social Security will not be affected – and neither will national security – but all other discretionary government programs will.

Finally, I’ve called for a bi-partisan Fiscal Commission – a panel of Democrats and Republicans who would sit down and hammer out concrete deficit-reduction proposals by a certain deadline. Because we’ve heard plenty of talk and a lot of yelling on TV about deficits, and it’s now time to come together and make the painful choices we need to eliminate those deficits.

This past week, 53 Democrats and Republicans voted for this commission in the Senate. But it failed when seven Republicans who had co-sponsored this idea in the first place suddenly decided to vote against it.

Now, it’s one thing to have an honest difference of opinion about something. I will always respect those who take a principled stand for what they believe, even if I disagree with them.

But what I won’t accept is changing positions because it’s good politics. What I won’t accept is opposition for opposition’s sake. We cannot have a serious discussion and take meaningful action to create jobs and control our deficits if politicians just do what’s necessary to win the next election instead of what’s best for the next generation.

I’m ready and eager to work with anyone who’s serious about solving the real problems facing our people and our country. I welcome anyone who comes to the table in good faith to help get our economy moving again and fulfill this country’s promise. That’s why we were elected in the first place. That’s what the American people expect and deserve. And that’s what we must deliver.

Thank you.

Source: whitehouse.gov

Washington, D.C.–January 16, 2010.

Over the past two years, more than seven million Americans have lost their jobs. Countless businesses have been forced to shut their doors. Few families have escaped the pain of this terrible recession. Rarely does a day go by that I do not hear from folks who are hurting. That is why we have pushed so hard to rebuild this economy.

But even as we work tirelessly to dig our way out of this hole, it is important that we address what led us into such a deep mess in the first place. Much of the turmoil of this recession was caused by the irresponsibility of banks and financial institutions on Wall Street. These financial firms took huge, reckless risks in pursuit of short-term profits and soaring bonuses. They gambled with borrowed money, without enough oversight or regard for the consequences. And when they lost, they lost big. Little more than a year ago, many of the largest and oldest financial firms in the world teetered on the brink of collapse, overwhelmed by the consequences of their irresponsible decisions. This financial crisis nearly pulled the entire economy into a second Great Depression.

As a result, the American people – struggling in their own right – were placed in a deeply unfair and unsatisfying position. Even though these financial firms were largely facing a crisis of their own creation, their failure could have led to an even greater calamity for the country. That is why the previous administration started a program – the Troubled Asset Relief Program, or TARP – to provide these financial institutions with funds to survive the turmoil they helped unleash. It was a distasteful but necessary thing to do.

Many originally feared that most of the $700 billion in TARP money would be lost. But when my administration came into office, we put in place rigorous rules for accountability and transparency, which cut the cost of the bailout dramatically. We have now recovered most of the money we provided to the banks. That’s good news, but as far as I’m concerned, it’s not good enough. We want the taxpayers’ money back, and we’re going to collect every dime.

That is why, this week, I proposed a new fee on major financial firms to compensate the American people for the extraordinary assistance they provided to the financial industry. And the fee would be in place until the American taxpayer is made whole. Only the largest financial firms with more than $50 billion in assets will be affected, not community banks. And the bigger the firm – and the more debt it holds – the larger the fee. Because we are not only going to recover our money and help close our deficits; we are going to attack some of the banking practices that led to the crisis.

That’s important. The fact is, financial firms play an essential role in our economy. They provide capital and credit to families purchasing homes, students attending college, businesses looking to start up or expand. This is critical to our recovery. That is why our goal with this fee – and with the common-sense financial reforms we seek – is not to punish the financial industry. Our goal is to prevent the abuse and excess that nearly led to its collapse. Our goal is to promote fair dealings while punishing those who game the system; to encourage sustained growth while discouraging the speculative bubbles that inevitably burst. Ultimately, that is in the shared interest of the financial industry and the American people.

Of course, I would like the banks to embrace this sense of mutual responsibility. So far, though, they have ferociously fought financial reform. The industry has even joined forces with the opposition party to launch a massive lobbying campaign against common-sense rules to protect consumers and prevent another crisis.

Now, like clockwork, the banks and politicians who curry their favor are already trying to stop this fee from going into effect. The very same firms reaping billions of dollars in profits, and reportedly handing out more money in bonuses and compensation than ever before in history, are now pleading poverty. It’s a sight to see.

Those who oppose this fee say the banks can’t afford to pay back the American people without passing on the costs to their shareholders and customers. But that’s hard to believe when there are reports that Wall Street is going to hand out more money in bonuses and compensation just this year than the cost of this fee over the next ten years. If the big financial firms can afford massive bonuses, they can afford to pay back the American people.

Those who oppose this fee have also had the audacity to suggest that it is somehow unfair. That because these firms have already returned what they borrowed directly, their obligation is fulfilled. But this willfully ignores the fact that the entire industry benefited not only from the bailout, but from the assistance extended to AIG and homeowners, and from the many unprecedented emergency actions taken by the Federal Reserve, the FDIC, and others to prevent a financial collapse. And it ignores a far greater unfairness: sticking the American taxpayer with the bill.

That is unacceptable to me, and to the American people. We’re not going to let Wall Street take the money and run. We’re going to pass this fee into law. And I’m going to continue to work with Congress on common-sense financial reforms to protect people and the economy from the kind of costly and painful crisis we’ve just been through. Because after a very tough two years, after a crisis that has caused so much havoc, if there is one lesson that we can learn, it’s this: we cannot return to business as usual.

Thank you very much.

Source: whitehouse.gov

From NPR:

Three days after the massive earthquake devastated Haiti’s capital, bodies still litter the streets. The stench of death is growing. Corpses are being delivered by any means possible to the General Hospital in Port-au-Prince, where hundreds now lie stacked outside the morgue.

Anastasia Kelly, AIG’s vice chair, is quitting because of the $500,000 pay cap. She talked with Rep. Dennsi Kucinich at a May 2009 hearing as then AIG CEO Edward Liddy watched. I would have loved to hear what Kucinich had to say to her.

From NPR:

When it became clear that the Obama Administration meant business in terms of slapping pay caps on top execs at financial institutions whose very survival was due to massive taxpayer help, chief executives at financial institutions warned that they would have trouble either attracting or keeping their talent.

They weren’t kidding in the case of Anastasia Kelly at AIG. The AIG vice chair has informed her employer that she’s out of there because of the pay caps.

NPR’s Tim Robbins reported for the network’s newscast, "The company says she is leaving for what it calls "good reason", then states that reason as the pay cap. Kelly will get a reported $3.8-million severance package."

Good riddance to her.

Read more here at NPR.

The New York Times reports that one in eight Americans—that’s 12.5%—are currently on food stamps. That’s a lot of people. But consider this: one in four children in the United States are on food stamps.

Thats 25% of all the children in the Land of Plenty.

From the New York Times:

[Food stamp use] has grown so rapidly in places so diverse that it is becoming nearly as ordinary as the groceries it buys. More than 36 million people use inconspicuous plastic cards for staples like milk, bread and cheese, swiping them at counters in blighted cities and in suburbs pocked with foreclosure signs.

Virtually all have incomes near or below the federal poverty line, but their eclectic ranks testify to the range of people struggling with basic needs. They include single mothers and married couples, the newly jobless and the chronically poor, longtime recipients of welfare checks and workers whose reduced hours or slender wages leave pantries bare.

While the numbers have soared during the recession, the path was cleared in better times when the Bush administration led a campaign to erase the program’s stigma, calling food stamps “nutritional aid” instead of welfare, and made it easier to apply. That bipartisan effort capped an extraordinary reversal from the 1990s, when some conservatives tried to abolish the program, Congress enacted large cuts and bureaucratic hurdles chased many needy people away.

From the ailing resorts of the Florida Keys to Alaskan villages along the Bering Sea, the program is now expanding at a pace of about 20,000 people a day.

Twenty thousand more people a day eating because of food stamps. According to an analysis by the New York Times, there are 239 counties in the United States where at least a quarter of the population receives food stamps.

We’re not out of the woods yet.

The Bush Legacy continues.

I’ve decided to pay more attention to President Ellen Johnson Sirleaf of Liberia. I am just finishing This Child Will Be Great: Memoir of a Remarkable Life by Africa’s First Woman President. Johnson Sirleaf’s story is amazing, and her memoir offers an incredible history of Liberia.

It is not my intention now to write a review of the book. Yes, I recommend it. Johnson Sirleaf is brilliant, with a strong background in economics and finance. She appears to be keenly aware of the needs, potential and promise of Liberia, and the African continent as a whole. At this point, I want to keep up with President Johnson Sirleaf’s current work, so I’m introducing a new category on Turning Left: Liberia. Expect to read more in the days and weeks ahead.

Let me begin here: Johnson Sirleaf writes stirring and frightening accounts of the bloodbaths of former Liberian presidents Samuel K. Doe and Charles G. Taylor. Charles Taylor is currently on trial in the Hague. President Doe was captured in Monrovia, the Liberian capital, by faction leader Prince Y. Johnson on September 9, 1990. He was tortured and killed. According to Johnson Sirleaf’s memoir, Doe’s ears were sawed off before he died. No one deserves to die that way, Johnson Sirleaf comments, no matter what they’ve done.

So I’m going to start following Ellen Johnson Sirleaf. I believe she is worth of attention. For all I know, she could secretly be a scoundrel — but I don’t think so. My gut tells me she’s for real.

The latest I was able to find is a piece dated today regarding President Johnson Sirleaf taking her Executive Mansion "on the road," visiting the people where they live.

From AllAfrica.com:

Liberian President Ellen Johnson Sirleaf has virtually taken the Executive Mansion "on the road," as the implementation of development projects becomes more compelling, with the arrival of the dry season.

The President was, a little over a week ago, in Falie, Grand Cape Mount County, discussing with her direct representatives-the Superintendents-in the political sub-divisions of the country, their programs and challenges. A number of issues emerged at the forum which not surprisingly, included the administration of the County Development Funds (CDF).

The exercise has, understandably, come under serious criticism, owing to what critics see as a lack of transparency in its administration. The President acknowledged that some of the accusations may not be true. "Some may be rumors; some may be misunderstanding, but in several cases, funds have been misused or misallocated. Your responsibility is to take charge of the CDF in such a way that the mandates given by our Constitution to the three branches of Government are fully respected.

"We are not going to do anything in a confrontational way; we are going to do it through consultations, through dialogue, through working with colleagues with one common objective in mind, an objective that is common to all the branches and to all the leaders and to all the citizens of the County, and that objective is: to bring development to the people. I am sure that in that spirit, we will be able to find a solution, to come up with new procedures that will enable us to get more results and have more effectiveness and efficiency in the implementation of our County Development Projects," the Liberian leader reminded her officials, urging them to start a process of consultation to achieve the objective.

Too many times, she observed, leaders are removed from the people they serve. "Many times the People do not know; this is why sometimes the lack of information gives way to rumors and to wrong information. You are responsible to hold consultations with your citizens. You need to go into the districts, the communities, in the villages. Tell them what you are doing. Show them that the CDA comes out of a process in which they contributed. It’s their project. This is what has been done; these are the problems; this is our progress-so they can know. Because they are the ones that will defend you," she urged the County Superintendents.

I am completely impressed. This sounds just like the woman I read about in This Child Will Be Great. And I look forward to reading more.

From the Huffington Post:

A few days ago, I wrote about Goldman Sachs’s transition from a bank holding company into a public relations disaster machine. I argued that Goldman’s CEO, Lloyd Blankfein, has been behaving like he wants to be attacked by a ferocious mob.

Now, it appears the Catholic church is determined to unseat Blankfein in the "Inexplicably Evil Organization Most Disconnected From Real People" category.

The Catholic Archdiocese of Washington said Wednesday that it will be unable to continue the social service programs it runs for the District if the city doesn’t change a proposed same-sex marriage law, a threat that could affect tens of thousands of people the church helps with adoption, homelessness and health care.

Yup, that’s right. If gay folk can marry, the Catholic church refuses to feed the homeless.

Well, that all seems very reasonable. After all, the state would force the Catholic church to perform gay marriages, and celebrate the beastly unions, right?

Kilkenny offers a postscript to her article, "In the original article, I wrote that Jesus condemned homosexuality. However, that’s not true. The condemning homosexuality bit is written in Leviticus. Sorry, Jesus." Acutally, Jesus said nothing at all about sex or sexuality beyond his comments regarding marriage fidelity and divorce.

The Washington Post appears to support Kilkenny’s conclusions:

Under the bill, headed for a D.C. Council vote next month, religious organizations would not be required to perform or make space available for same-sex weddings. But they would have to obey city laws prohibiting discrimination against gay men and lesbians.

Fearful that they could be forced, among other things, to extend employee benefits to same-sex married couples, church officials said they would have no choice but to abandon their contracts with the city.

"If the city requires this, we can’t do it," Susan Gibbs, spokeswoman for the archdiocese, said Wednesday. "The city is saying in order to provide social services, you need to be secular. For us, that’s really a problem."

This debate over same-sex marriage is so incredibly heated right now. I understand that the Catholic Church does not support same-sex marriage. How can they possibly use this one issue to justify turning their backs on those very people Christ calls us to serve?

According to the Post article, council members in D.C. don’t seem phased:

The church’s influence seems limited. In separate interviews Wednesday, council member Mary M. Cheh (D-Ward 3) referred to the church as "somewhat childish." Another council member, David A. Catania (I-At Large), said he would rather end the city’s relationship with the church than give in to its demands.

"They don’t represent, in my mind, an indispensable component of our social services infrastructure," said Catania, the sponsor of the same-sex marriage bill and the chairman of the Health Committee.

This from council member Phil Mendelson (D-At Large):

"The problem with the individual exemption is anybody could discriminate based on their assertion of religious principle," Mendelson said. "There were many people back in the 1950s and ’60s, during the civil rights era, that said separation of the races was ordained by God."

Allow me to quote Amos the prophet, "Thus says the LORD: For three crimes of Israel, and for four, I will not revoke my word; Because they sell the just man for silver, and the poor man for a pair of sandals. They trample the heads of the weak into the dust of the earth, and force the lowly out of the way." (Amos 2:6-7)

More here from the Washington Post.

While there is nothing to celebrate until job numbers turn around, the President cites the recent dramatic turnaround in gross domestic product as a sign of better things to come. He also applauds the fact that the Recovery Act has now created or saved more than a million jobs.

The President’s weekly address:

Each week, I’ve spoken with you about the challenges we face as a nation and the path we must take to meet them. And the truth is, over the past ten months, I’ve often had to report distressing news during what has been a difficult time for our country. But today, I am pleased to offer some better news that – while not cause for celebration – is certainly reason to believe that we are moving in the right direction.

On Thursday, we received a report on our Gross Domestic Product, or GDP. This is an important measure of our economy as a whole, one that tells us how much we are producing and how much businesses and families are earning. We learned that the economy grew for the first time in more than a year and faster than at any point in the previous two years. So while we have a long way to go before we return to prosperity, and there will undoubtedly be ups and downs along the road, it’s also true that we’ve come a long way. It is easy to forget that it was only several months ago that the economy was shrinking rapidly and many economists feared another Great Depression.

Now, economic growth is no substitute for job growth. And we will likely see further job losses in the coming days, a fact that is both troubling for our economy and heartbreaking for the men and women who suddenly find themselves out of work. But we will not create the jobs we need unless the economy is growing; that’s why this GDP report is a good sign. And we can see clearly now that the steps my administration is taking are making a difference, blunting the worst of this recession and helping to bring about its conclusion.

We’ve acted aggressively to jumpstart credit for families and businesses, including small businesses, which have seen an increase in lending of 73 percent. We’ve taken steps to stem the tide of foreclosures, modifying mortgages to help hundreds of thousands of responsible homeowners keep their homes and help millions more sustain the value in their homes. And the Recovery Act is spurring demand through a tax cut for 95 percent of working families, and through assistance for seniors and those who have lost jobs – which not only helps folks hardest hit by the downturn, but also encourages the consumer spending that will help turn the economy around.

Finally, the Recovery Act is saving and creating jobs all across the country. Just this week, we reached an important milestone. Based on reports coming in from across America – as shovels break ground, as needed public servants are rehired, and as factories whir to life – it is clear that the Recovery Act has now created and saved more than one million jobs. That’s more than a million people who might otherwise be out of work today – folks who can wake up each day knowing that they’ll be able to provide for themselves and their families.

We’ve saved jobs by closing state budget shortfalls to prevent the layoffs of hundreds of thousands of police officers, firefighters, and teachers who are today on the beat, on call, and in the classroom because of the Recovery Act. And we’ve also created hundreds of thousands of jobs through the largest investment in our roads since the building of the interstate highways, and through the largest investments in education, medical research, and clean energy in history.

These investments aren’t just helping us recover in the short term, they’re helping to lay a new foundation for lasting prosperity in the long term – and they’re giving hardworking, middle-class Americans the chance to succeed and raise a family. Because of the investments we’ve made and the steps we’ve taken, it’s easier for middle-class families to send their kids to college and get the training and skills they need to compete in a global economy. We’re making it easier for these families to save for retirement. And in areas like clean energy, we’re creating the jobs of the future – jobs that pay well and can’t be outsourced.

In fact, just this week, I traveled to Arcadia, Florida to announce the largest set of clean energy projects through the Recovery Act so far: one hundred grants for businesses, utilities, manufacturers, cities and other partners across the country to put thousands of people to work modernizing our electric grid – the system that provides power to our homes and businesses – so that it wastes less energy, helps integrate renewables like wind and solar, and saves consumers money. And that’s just one example.

So, we have made progress. At the same time, I want to emphasize that there’s still plenty of progress to be made. For we know that positive news for the economy as a whole means little if you’ve lost your job and can’t find another, if you can’t afford health care or the mortgage, if you do not see in your own life the improvement we are seeing in these economic statistics. And positive news today does not mean there won’t be difficult days ahead. As I’ve said many times, it took years to dig our way into the crisis we’ve faced. It will take more than a few months to dig our way out. But make no mistake: that’s exactly what we will do.

For the economy we seek is one where folks who need a job can find one and incomes are rising again. The economy we seek is one where small businesses can flourish and entrepreneurs can get the capital they need to plant new seeds of growth. The economy we seek is one that’s no longer based on maxed out credits cards, wild speculation, and the old cycles of boom or bust – but rather one that’s built on a solid foundation, supporting growth that is strong, sustained, and broadly shared by middle class families across America. That is what we are working toward every single day. And we will not stop until we get there.

Thank you. And Happy Halloween.

Source: whitehouse.gov

From Senator Durbin:

The tide is shifting our way.

Thanks to the tireless efforts of activists like you we’ve seen a tremendous shift in the health care reform debate. On Monday, Majority Leader Harry Reid introduced the merged Senate health care bill — a bill that includes a public option.

The question is no longer if we will have some sort of public option in the final health care reform bill, but instead what form it will take.

There are several interpretations of what a public option should look like, and I’d like to share the preferences of the American people with my colleagues in the Senate.But I must do so before the final health care reform bill comes to a vote on the Senate floor in the coming weeks.

Please rank your preferences for what form the public option should take in the final bill at:

http://www.DickDurbin.com/PublicOptionPoll

I believe that a robust public option must give more Americans more choice on day one. But some of my colleagues would be content with a public plan that only kicked in if insurance companies continued to raise premiums at an unreasonable rate — the so-called "trigger." Others would prefer a more limited public option, requiring state governments to "opt-in" to participate in the program.

I am "whip counting" the votes in favor of all of these in the Senate, and we’re very, very close to reaching the 60 votes we need to pass a robust form of the public option — one that provides more coverage to more people by requiring states to "opt out" if they don’t want to participate. That’s exactly how Medicare and Medicaid work, and all 50 states participate in those popular programs.

Ultimately my colleagues need to know what their constituents think a robust "public option" really means — and what it doesn’t.

Read up on the various interpretations of a public option now under consideration, and tell me — and my colleagues — where you stand.

http://www.DickDurbin.com/PublicOptionPoll

Virtually every poll now shows most people support a robust public option to expand health insurance choice and offer coverage to more Americans. And the American people will not settle for a "public option" in name only.

Neither will I.

Let’s tell Congress what precisely we want and expect to see in the final health care reform bill that President Obama signs into law.

Thank you for taking my poll.

Sincerely,

Dick Durbin
U.S. Senator

Want to eliminate some waste in the medical industry? How much of your premium goes to the re-election campaigns of members of Congress?

Sign Harry Reid’s petition.

From Senator Harry Reid:

When I emailed last night, I told you we were working on ideas for mobilizing support for the bill I sent to the Congressional Budget Office yesterday. Well, we did just that and decided that the best way to build support in the Senate is for me to have as many signatures from as many Americans as possible that support health insurance reform with a public option.

This way, when I ask my colleagues to support a bill with a public option, I can tell them that it’s not just me asking, it’s me AND thousands of Nevadans – AND a majority of our fellow Senators – AND thousands of voters from their home state. To do this, I need you to add your voice to mine right away.

CLICK HERE TO SIGN MY PETITION FOR REFORM WITH A PUBLIC OPTION

If there’s one thing I’ve learned from being the Senate Majority Leader, it’s that we need strong grassroots momentum to win the support required to pass big legislation. Change isn’t easy. And big change is even more difficult. But we have the chance to deliver real health insurance reform this year, we just have to work together to convince every Senator we can that a vote for this bill is a vote on the right side of history.

Please, sign our petition today and tell your friends and family to add their names as well. Thanks so much for your support.

Together, we’ll get this done.

-Harry