Negotiations between the U.S. House and Senate are now in full swing. The President's Chief of Staff, former Representative Rahm Emanuel is tough and well qualified to be a part of this very difficult process. With most Republicans trying obstruction at every turn, Democrats, including President Obama, will have to unite in order to agree on anything that can get congressional approval. Politico's David Rogers writes that the president will be "stepping forward to put his stamp on the package and defuse intra-party wrangling that might delay final passage, headlining, "It is whatever Obama wants."
Key to the deal in the Senate have been the Republican senators who voted with Democrats to pass the bill. J.P. Green at the Democratic Strategist called it a hand well-played by Senator Susan Collins (R-Maine). Ed Kilgore sees a missing rationale for the pivotal Group's demands that nothing change in the Senate bill.
For what the press is reporting on the story, I did a little survey of the main print sources along with some trusted online sources:
- The Washington Post's "Politics Main" section today is a very good resource. For the latest news on the Obama Administration's push for a stimulus bill in Congress, as well as what happened when Secretary of the Treasury Tim Geithner unveiled their $1.5 trillion financial stability plan yesterday. The paper's analysis of the plan said that "it lacks freshness and clarity."
- New York Times' editors opined on the subject of the Treasury's plan. So did Maureen Dowd with "Trillion Dollar Baby," and Tom Friedman called it "The Open Door Bailout."
- Congressional Quarterly's Adriel Bettleheim calls the administration's strategy a "delicate dance."
- ProPublica's investigative journalists at penned a number of good articles about the bank bailout, including, "Geithner: This is a 'Broad Architecture'," "Details Scarce on New Bailout Plan," and, "Goodbye, TARP. Hello, Financial Stability plan."
The Obama administration is moving ahead very swiftly. They promised to "hit the ground running," and they have been doing just that since the President was sworn in. On two economic fronts, with consumers and jobless citizens, and with the big banks on Wall Street, they are devising strategies that they do not promise will work. But they are acting decisively, intelligently, and with very good political savvy. And most importantly, they appear to be acting in good faith. What a breath of fresh air the efforts demonstrate!
For further information on the Financial Stability plan, see my brand new blog, "Behind the Links," and today's feature: "Economic Recovery and Financial Stability Primer."
Technorati tags: news news and politics politics congress obama economy
(Cross-posted at The Reaction.)
My “creativity and dreaming” post today is at Making Good Mondays.