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Thursday, May 13, 2010

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The Senate reconvened and resumed consideration of S. 3217, the Dodd financial regulation bill. Votes on amendments are expected to continue today.

Yesterday, the Senate voted 63-36 for an amendment from Sen. Jeff Merkley (D-OR) to require lenders to verify the borrower’s ability to repay a home loan but rejected an amendment from Sen. Bob Corker (R-TN) for stricter down payment requirements by a vote of 42-57.  Also yesterday, the Senate rejected an amendment from Sen. Saxby Chambliss (R-GA) to strike stringent derivatives language from the bill that could drive such transactions overseas.

A new NBC News/Wall Street Journal poll out today confirms once more that Americans disagree with key aspects of the Democrats’ agenda and instead prefer Republicans. The poll found that respondents believe the government’s number-one priority should be “job creation and economic growth.” But they don’t believe the $862 billion stimulus is meeting that need or will meet it in the future. For the first time in this poll, more respondents, 42%, said the stimulus bill “will not” help the economy than say it has (18%) or it will (20%) help the economy, combined.

Residents of Buffalo, NY, where President Obama is going to have yet another rally to promote his economic plans, are apparently frustrated enough with the economy to greet the president with a billboard reading, “I need a freakin job.” When is this President going to STOP running around the country spending OUR money promoting his agenda.

And what of President Obama’s signature health care law that was jammed through Congress on party-line votes? The Wall Street Journal writes today, “[D]espite White House predictions that passage of Mr. Obama's health-care bill would boost Democrats in November, the issue still appeared to be more of a drag on the president's party. Some 44% called the health plan a bad idea, compared to 38% who saw it as a good idea.” Asked about the effect of the Democrat health care law on the quality of their own health care, 36% of respondents said it would actually decrease that quality, and another 37% felt it would stay the same. Only 17% thought their quality of care would get better, the lowest number in this poll since last April.

It’s little wonder that voters remain so sour on the $2.6 trillion health care law, given weeks of press reports and government studies showing that it won’t live up to Democrats’ promises to reduce the deficit, lower premiums, or allow everyone who likes their plan to keep it.

Considering all that, it certainly makes sense that, as the WSJ points out, “Nearly one-third of respondents said they ‘almost never’ trust the government in Washington to do what is right—about triple the number who felt that way when the question was asked in October.”

While Democrats are finding themselves unwelcome at home, even incumbent Republicans who failed to remain fiscally sound in all there votes are now facing the wrath of their party in their  primary elections. However,because of the Democrats’ misguided policies, it is clear that voters will be looking to Republican Conservatives (but not RINOs) in November.    Indeed, The Journal notes, “nearly two-thirds [in the survey] said they were motivated by opposition to Mr. Obama and Democratic policies.” Further, “[t]he voters who said they were most interested in the November elections favor Republican control of Congress by a 20-point margin, with 56% backing the GOP and 36% backing Democrats—the highest gap all year on that question.”

Tags: Poll, Washington, D.C., US Senate, US House, US Congress, Dodd Bill, financial regulation, 2010 elections To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!

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