Category: Congress

Congressional Polls Update

DSCC: Ronnie Musgrove leads Roger Wicker, who was appointed to replace Lott, by 8%, 48% to 40%. Obviously, as this is a partisan poll, it can be taken with a grain of salt, but any time an incumbent, even one who has been in office for just a few weeks is at 40%, they are in trouble

Rasmussen Reports™ has Kay Hagan(D) leading Liddy Dole(R) by 1%, 48% to 47% in North Carolina, well with in the margin of error, but with Dole as a prominent incumbent being below 50%, she’s got a fight.

They also have Marc Udall with a 6% lead over Bob Shaffer in Colorado, 47% to 41% in the race to replace retiring Senator Wayne Allard with a margin of ±4%.

GOP Retirements Crippling Fund Raising

With changes to lobbying rules at the beginning of this yearmaking revolving door payoffs more difficult, the unpleasantness of being the minority party, and the prospect of losing a seat in what was once a safe election, Republican incumbents are retiring in droves, and now it’s reported that this is crippling their fund raising apparatus:

Of the 32 Republicans who have resigned or announced plans to retire, 26 have political action committees known as leadership PACs — which members of Congress typically use to make donations to colleagues facing tough campaigns. Those 26 PACs raised $17 million in the last campaign cycle, but only $5.3 million for this election, a USA TODAY analysis of the latest campaign reports filed in March and April shows.

The bigger picture is that when your fund raising is based on bribery and extortion, which is what Tom Delay’s “K Street Project” was, you can no longer raise money if you lack the power to deliver.

Fee for service also means no fee for no service.

No, Make That Hell No!

Publius makes an an argument that the realities of votes and politics require that the Democrats keep Joe Lieberman in his chairmanship on the Homeland Security Committee.

While his arguments are logical, they are also wrong. They are predicated on the idea that he generally votes with the Dems, and this is really not true. He votes with the Dems when it does not matter, so he voted against Alito, and voted for Cloture.

If he is the 60th vote for cloture, he will not vote for cloture, because as he has already made clear, he is intent on extracting vengeance against a Democratic party that he feels has betrayed him.

As to whether you allow him to caucus with the Dems, that’s their business, but he should not be chairman of anything significant, particularly homeland security, which has been politicized, and needs to be de-Bushified.

Any authority that he is granted will merely serve his petty vendetta.

Future Combat System Facing Funding Cut

The House Armed Services Committee is sticking with the 5% cut in funding recommended by the Airland Subcommittee, and it’s likely that the house as a whole will stick with the cut.

Good idea. While some of the technologies are intriguing, the program as a whole is bloated, over ambitious, over budget, and over schedule.

Full disclosure, I worked on FCS from 2003-2006.*

*Yes, I have worked everywhere. Maybe I can’t hold down a job, but more likely this has been my role as “technical hit man”, where you are parachuted in to take care of a specific need.

Finding a Solution, and Applying it to Narrowly

In looking at the role of speculation on oil prices, a Senate committee is looking at increasing margin requirements:

“I think there’s an orgy of speculation that we ought to be deciding to do something about,” said Sen. Byron Dorgan, D-North Dakota.

He and others raised the idea of changing the margin or amount investors must pay up front in order to engage in oil speculation. It would be a hugely significant change in financial markets. Dorgan said stock speculation requires a 50% margin, but commodities like oil demand a much lower threshold, just 5% or 7%.

If you look at the credit crunch generally, the real problem is excessive leverage. Margins should be raised to the 75% range, where they were for stocks before the Fed cut them around 1980, and they should be applied to all investments.

Scrapping the Zumwalt

Gene Taylor (D-MS), hairman of the House Armed Services Committee’s seapower subcommittee, is proposing scrap the Zumwalt class (DDG-1000), and replace it with an additional LPD and two resupply ships. The senior Republican on the subcommittee, Rosco “Neanderthal” Bartlett (R-MD), agrees.

I tend to agree. The Zumwalts are too large, too expensive, and too ambitious. They add nothing in overall capability, their weapons and sensor capability will not differ from their predecessors, so all their size gets is a larger store of weapons, at the cost of reduced coverage, since more smaller ships can cover different areas simultaneously.

They are also both pushing for more nuclear combatants, including a scheme to make the Arleigh Burke’s nuclear powered, which I’m rather dubious of.

The Republicans Are Starting to Attack Each Other

It appears that the Loss in the special election has shaken them up something fierce:

House Republicans turned on themselves yesterday after a third straight loss of a GOP-held House seat in special elections this year left both parties contemplating widespread Democratic gains in November.

The Republicans have a real problem. When the Dems lost power in 1994, it was because of a few bounced checks in the house bank, not delivering on healthcare, and supporting NAFTA.

When you consider the war, child molestation (Foley), corruption, incompetence, etc. of the Republicans, it’s going to be a lot longer than 12 years for them.

Happy dance!!!!

Volker Calls for More Regulation

In testimony before Senator Charles Schumer’s (D-NY) Joint Economic Committee, Paul Volker called for more, and more effective regulation of the financial markets.

There is a back story to all of this. Volker was one of the Fed members who tried to keep depression era policies in place, with folks like Alan “Bubbles” Greenspan out maneuvering him on things like the emasculation of Glass Steagall by the Fed before the law was repealed.