Congress has been developing bailout legislation this week for Wall-Street. It appears that the House Republican leader is telling his members to support the bill if their conscious will allow them to do so. The Senate Republicans are not herded as easily as House members but it appears that Budget Committee Ranknig Member Senator Judd Gregg (R-NH) is agreeing to the compromise and between him and Senator Richard Shelby (R-AL) who is the Ranking Member on the Senate Banking, Housing, and Urban Affairs Committee, they are also supporting the final piece of legislation they have negotiated with the Democratic leadership and the President. McCain tried to make a move to appear seriously concerned about the financial crisis but even members of his own party agreed with Democrats that when he brought Presidential politics onto Capital Hill it only hampered and slowed down the progress of a final product.
McCain skipped a vote on a Continuing Resolution to fund the government through March 6, 2009 as to avoid a government shut-down even though he was in Washington when the vote was being held. Democrats are saying that he skipped the vote because it was a lose-lose situation. If he voted for the bill then he would have advocated the numerous earmarks that the bill included that he has long proposed. If he voted against the bill then he would be accused of trying to shut down the federal government at the time of a possible economic recession. Note that Obama also skipped the vote as did Joe Biden.
Top 5 Issues
- Congress reaches agreement on bailout for Wall-Street.
- 1st Presidential Debate
- Biden's mouth earns him admonishment from Obama
- Senator Ted Stevens trial has started
- Possible Lame-Duck session for Congress following election
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