Word: passing
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...heart of the program - and the biggest cause of complaints - is an effort to reignite the process by which most banks get the money they use to make consumer loans. To fund credit-card, auto and education lending, banks typically gather up loans they already have made and pass them off to an investment bank. Wall Street firms then package these into bonds that pay interest based on borrowers' loan payments. Completing the money-recycling loop, investors buy the bonds, and investment banks pass most of that money, minus a fee, back to the lenders. The lenders can then...
...requirement that all new spending be offset by reductions to avoid adding to the deficit. Their presence could also indicate that the group is considering moving the final bill through budget reconciliation, the end-of-the-year budget bill that needs only a simple majority of 50 votes to pass the Senate, thus avoiding a potential GOP filibuster. Republicans have repeatedly warned Democrats against trying to pass health care in that fashion, saying it goes against the spirit of the normal legislative process for such a sweeping bill. In return, many Democrats have argued that President Bush pushed through several...
...thing nostalgic Democrats forget about Social Security is that it did not come in the first year of Franklin Roosevelt's presidency or even in the second. The major initiatives of the New Deal passed only after F.D.R. had convinced Americans that he had his priorities straight. His immediate attention to issues like the run on banks and sky-high unemployment gave him a congressional landslide in 1934 that ratified his 1932 victory. That's when he grew strong enough to pass his broader agenda. The best way not to "waste a good crisis" is to put the stress...
...those numbers indicate that the recession is picking up speed. At the same time, the rescue packages which are supposed to help salvage part of this year are starting to get bogged down. Several senators have told President Obama that they do not have the votes to pass the newly proposed budget without changes. That could lead to several weeks of debate...
...will pass by this Saturday, March 14, without the traditional festivities organized by the Mathematics Department, leaving at least one young math aficionado disappointed. Eight-year-old Ian Reid found out about the annual challenge to memorize the digits of pi last year. By New Year’s Day, he could recite 100 digits. “I haven’t even told him yet,” said Jasper Reid, Ian’s father. “He’s going to be disappointed.” In the past, celebrations of the irrational number...