Each morning, Bill Scher and Terrance Heath serve up what progressives need to effect change on the kitchen-table issues families face: jobs, health care, green energy, financial reform, affordable education and retirement security.
MORNING MESSAGE: Demanding Justice
OurFuture.org's Terrance Heath: "Young Americans, joined by everyone from airline pilots to labor unions and U.S. Marines (about as far from 'hippies' as one could imagine) have occupied Wall Street for weeks now, because they know who 'broke' the economy. Americans are occupying Washington, D.C., because they know who 'broke' the economy, who allowed it to happen, and who still hasn't done much of anything about it. We have been living with the consequences of 'sins' not our own, because our government failed to protect us from the sins of others. Namely, Wall Street. Americans are occupying their own cities all over the country, because they know in a crisis this big, the scene of the crime is in our own cities, our neighborhoods, and sometimes even in our own living rooms; because we have friends or family who are getting laid off because of local/state budget cuts that state/local jobs cuts that are slowing down what passes as a recovery; because we are or have children who are graduating off a cliff into a jobless recovery and an economy with no place for them; because foreclosures have left our neighborhoods struggling with blight; because the future we dreamed up for our children is in peril. For all these reasons and more, Americans are taking to the streets."
Occupy Wall Street Continues To Grow
House Min. Leader Pelosi praises Occupy Wall Street. TPM quotes: "It's independent people coming (together), it's young, it's spontaneous, it's focused and it's going to be effective."
NYT explores whether growing protest movement will help or hurt President Obama: "To hear some Democratic analysts tell it, the mushrooming protests could be the start of a populist movement on the left that counterbalances the surge of the Tea Party on the right, and closes what some Democrats fear is an 'enthusiasm gap' between their party and Republicans in the 2012 election. But that assumes the president is able to win the support of these insurgents, rather than be shunned by them."
NYT's Paul Krugman says protests give Dems a "second chance": "The Obama administration squandered a lot of potential good will early on by adopting banker-friendly policies that failed to deliver economic recovery even as bankers repaid the favor by turning on the president. Now, however, Mr. Obama’s party has a chance for a do-over. All it has to do is take these protests as seriously as they deserve to be taken."
Protests should "scare Republicans" argues Bloomberg's Jonathan Alter: "... a healthy rebalancing of the national conversation is nonetheless under way. The Tea Party directed public anger against the federal government in general and President Barack Obama in particular; Occupy Wall Street directs that ire against Wall Street in general and -- inevitably -- Romney in particular."
Democracy Fund's Josh Silver and Nick Penniman argue protests bolster call to get money out of politics: "So what changes are the protesters actually advocating? What does 'democracy reform' look like? ... we need to stop politicians from being bribed while we get more people involved in our democracy. If we do this, we will see a profound shift in policy outcomes in every issue we care about: from taxation to spending; from consumer protections to financial reform."
With Job Growth Still Weak, President Keeps Pressure Up To Pass Jobs Bill
103K more jobs last month, unemployment rate unchanged. NYT: "The private sector added 137,000 jobs in September, although that included about 45,000 Verizon workers who had been on strike during August ... The public sector was the weakest link, with local government shedding 35,000 jobs, including 24,400 in public education."
"Jobs Numbers Send S.O.S. to Washington to Act Now on Jobs" says Campaign for America's Future's Robert Borosage: "This is a time for action on jobs, not cuts. The Supercommittee, an offspring of the ridiculous debt ceiling posturing, should wake up. This is not the time for cuts; it is time to act on jobs. Any report that fails to begin with investment to create jobs should be dead on arrival."
President seeks to apply continuing pressure on GOP to pass jobs bill. LAT: "President Obama warned Republicans of a protracted political showdown if they don't approve his $447-billion jobs plan, promising to bring it up piece by piece and force votes on popular provisions between now and the 2012 election."
President calls on media to have the "same independent economists" score GOP jobs proposals and compare. TNR's Jonathan Cohn tries: "... I tried this assignment a few weeks ago. But it's a trick question, because the Republicans don’t have a jobs plan. Or, to be more precise, they don’t have a jobs plan that anybody can evaluate ... Chris Varvares, senior managing director of Macroeconomic Advisers ... confirmed what other economists had said previously: 'Several of the provisions lack sufficient detail to make a careful analysis or even an informed guess of their effects.'"
Boehner says about Obama's jobs bill, "We’re legislating. He’s campaigning." W. Post's Jonathan Bernstein incredulous: "Hard to believe that Boehner could say that one without bursting out laughing. The current House has done hardly any legislating at all. They could barely pass a bill to keep the government’s lights on back in the spring, and they almost send the nation into default in the summer. They missed the deadline to pass appropriations bills just last week, and there’s still no guarantee they’ll be able to do it after their new November extension."
Treas, Sec. Geithner urges to Congress to pass American Jobs Act to counter European instability reports NYT.
Multinational CEOs push for infrastructure bank at Washington forum. US News and World Report: "Dan DiMicco, the chairman and CEO of Nucor, North America's largest steel manufacturing company, explained, 'What's good for America is good for Nucor.' ... his company is interested in changing the trend of sending domestically manufactured steel abroad for building projects ... Daryl Dulaney, president and CEO of Siemens, was open in his concern that doing business in the United States was getting too expensive. He explained that a Siemens operation that produces wind turbines in Fort Madison, Iowa, had to rebuild railways in the area to transport its product. 'How many companies are going to do that?' he asked..."
NYT bizarrely spotlights small minority of unemployed who oppose benefits extension: “'They’re going to end up spending more money on unemployment benefits, while less money is coming in on tax returns,' [Dan Tolleson] said ... 'Far better to relax some of these outrageous regulations.' ... his objection to a policy that would probably benefit him shows just how divisive the question has become ... In a recent survey of the unemployed by Rutgers University, more than one in four respondents was opposed to renewing the current extended unemployment benefits..."
China Bill Close To Senate Passage, After Reid Smashes Filibuster
Senate nears passage of China currency crackdown bill, but prospects uncertain. NYT: "...11-hour resistance by leading Republicans has clouded the outcome in the House, where the speaker, John A. Boehner, this week called the tariff plan 'dangerous,' and it is unclear if the issue will even come up for a House vote. ... President Obama would not say whether he would veto the bill it if it passed, but he raised concerns..."
Sen. Maj. Leader Reid uses Senate rules to squelch GOP filibuster with simple majority. The Hill: "Reid and 50 members of his caucus voted to change Senate rules unilaterally to prevent Republicans from forcing votes on uncomfortable amendments after the chamber has voted to move to final passage of a bill ... The surprise move stunned Republicans, who did not expect Reid to bring heavy artillery to what had been a humdrum knife fight over amendments to China currency legislation ... McConnell wanted to embarrass the president by demonstrating how few Democrats are willing to support his jobs plan as first drafted ... Reid said motions to suspend the rules after the Senate votes to end debate — motions which do not need unanimous consent — are tantamount to a renewed filibuster after a cloture vote."
Not quite a "nuclear option" argues Daily Kos' David Waldman: "...reporters covering the events tonight consider tonight's maneuvers to be unprecedented. But that's not exactly the case, either. On Oct. 3, 1977, a similar ruling was used by then-Majority Leader Robert Byrd (D-WV) to dispense with problematic, post-cloture amendments also considered dilatory ... If this really were the nuclear option, that would of course mean that the infamous 'Gentleman's agreement' was now inoperative..."
TPM's Brian Beutler suggests Republicans may exploit rules move once they regain majority: "... now that Reid's done something that hasn't been done in at least 30 years ... if they want, eliminating the filibuster."
GOP May Be Moving Away From No-Tax Pledge
NYT suggests some Republicans may break with Grover Norquist anti-tax pledge: "Representative Jason Chaffetz of Utah has signed a pledge never to raise taxes. [But] in a meeting with scores of his Republican colleagues, he stood up and proclaimed that he would never sign another pledge ... Representative Frank R. Wolf, a Republican from Virginia, took to the House floor for a rare excoriation of the anti-tax activist Grover G. Norquist and his strictly worded pledge ... Senator John Thune of [South] Dakota suggested that anti-tax pledges ought to be revisited, because they can be interpreted too broadly in closing loopholes or eliminating tax deductions ... These events, and interviews with lawmakers, suggest that anti-tax pledges are beginning to worry lawmakers, fund-raisers and others because of fears that they hamstring efforts to rewrite the nation’s tax code..."
Super Committee remains tight-lipped. Politico: "After meeting with the 12-member panel Thursday morning, [Sen. Patty] Murray, who co-chairs the committee with Rep. Jeb Hensarling (R-Texas), lunched with her fellow Democratic senators, who are growing anxious about the state of the highly consequential talks. While she didn’t shed much light on the panel’s internal deliberations, Murray signaled strongly that the work has been arduous and major agreements had yet to be struck — and that the clock is ticking."
CFPB Nominee Approved By Senate Cmte
President calls on GOP to allow confirmation of CFPB chief after nomination clears cmte. LAT: "'...Republicans have threatened not to confirm him not because of anything he's done, but because they want to roll back the whole notion of having a consumer watchdog," he said. Obama's comments came shortly after the Senate Banking Committee voted 12 to 10 to approve Cordray's nomination to be the agency's first director. All GOP members voted against the nomination..."
"Charging for Debit Cards Is Robbery" argues Lloyd Constantine in NYT oped: "...one of the largest illegal transfers of wealth from consumers to banks in American history ... purchases made with a debit card didn’t involve a loan from the bank, posed very little fraud risk and were extravagantly profitable to banks because they eliminated the costs of processing and clearing checks ... Retail customers of Bank of America and of any other bank that follows its lead should swiftly move their business."
Draft Volcker Rule was leaked. WSJ: "The leak left regulators fuming and opened a new front in Wall Street's battle to soften the blow of the proposed rule. The draft gave banking industry lobbyists several days to discuss it before Tuesday, when the Federal Deposit Insurance Corp. is scheduled to consider issuing a version for public comment."
CA AG still open to negotiating foreclosure fraud, despite rejecting recent proposal as too weak on banks reports WSJ.
House Dems call on acting director of the Federal Housing Finance Agency to resign. The Hill: "[Edward] DeMarco, acting director of the Federal Housing Finance Agency (FHFA) — an agency independent of the White House — met Thursday with 17 House Democrats in the Capitol, ostensibly to brief them on FHFA’s enhanced efforts to help struggling homeowners. Instead, he revealed that the agency doesn’t yet have such a plan ... 'Either do something or get out of the way,' [Rep. Dennis] Cardoza said ... lawmakers said they’ll also request that Obama select a more permanent nominee to replace DeMarco, who’s acting as a placeholder. The last nominee ... was blocked by Senate Republicans..."
President Stands By Clean Energy Investments
President continues to stand by clean energy investments, mock Republican defeatism. USA Today: "Obama alluded to how Rep. Cliff Stearns, R-Fla., and other Republicans have lobbied for clean-energy initiatives in Florida. Stearns, who is now leading a House subcommittee investigation of Solyndra, signed at least three letters to Energy Secretary Steven Chu seeking grants or loan guarantees for Florida projects ... 'despite the fact that all of them in the past have been supportive of this loan-guarantee program, he concluded … we can't compete against China when it comes to solar energy ... I don't buy that. I'm not going to surrender to other countries' technological leads that could end up determining whether or not we're building a strong middle class in this country.'"
EPA relaxes new emission rule. WSJ: "The Environmental Protection Agency proposed Thursday to give 10 states more flexibility in applying a new rule on power-plant emissions, but some state and industry officials who had criticized the rule said the loosening didn't go far enough."
