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Assuming the stimulus measure is passed - in private, even top GOP aides believe it will happen by mid-February - Summers says Obama will push next to stabilize the banks and the housing market. The Administration is weighing approaches that range from buying up banks' bad assets or guaranteeing the solvency of banks that hold them to taking an even larger ownership stake in the institutions and then pouring more cash directly into them. None of the options, Obama Administration officials admit, are ideal...
...Obama's rescue. Senate minority leader Mitch McConnell has told Obama in person that his party favors entitlement reform and would work for passage if both parties shared the risk. Republicans have always been keener than Democrats about curbing the automatic-spending programs, but the depth of the GOP's appetite for reform is uncertain because Congress has not taken a real vote on entitlement cuts since the early 1980s...
...they are eager for evidence to back up that charge. After Obama overturned the so-called abortion gag rule late last Friday - which had prohibited foreign nongovernmental family-planning groups from receiving any U.S. funds if they provided abortions or even lobbied for abortion rights in their country - House GOP leader John Boehner shot out a press release titled "President Obama's Executive Order Allowing Taxpayer-Funded Abortions Overseas," even though federal law continues to prohibit the use of U.S. funds for abortions in other countries...
...surprise that Democrats like Kerry, a regular at U.N. climate-change summits, are in favor of pushing for a new global deal on carbon, but even Republicans seemed to grasp Gore's message. Senator Corker of Tennessee, who has emerged as one of the more thoughtful GOP voices on energy, told Gore he could see the shift coming on climate. "We are now firing with real bullets," said Corker. "My sense is, this year something will really occur...
...think the Republicans should nominate [Colorado Rep.] Tom Tancredo." - as an adviser to Hillary Clinton's presidential campaign, joking that global warming would fare better as a 2008 campaign issue if the GOP picked a candidate skeptical on the science. Tancredo had recently told the Associated Press that the last work of fiction he read was An Inconvenient Truth by former Vice President Al Gore (Environment & Energy News...