Word: reformations
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...recipients). The policy created a backlash - some middle-class shoppers indignantly complained that food-stamp users were eating better than they were - and a number of restrictions on the program, including stricter eligibility rules, were added by Congress during the Reagan Administration and again under President Clinton's welfare-reform bills of the mid-1990s. Some measures, such as those that barred many legal immigrants from the program, were later reversed...
...necessity can make history obsolete. As proof, the Obama Administration has launched a full-court press to win Shelby's support for its financial-reform proposals, which the President will push Sept. 14 in a noon speech at Federal Hall on New York City's Wall Street. "We are in almost daily contact with [Shelby's] staff and have been going over the proposal with them literally line by line," says a senior Treasury department official. Shelby and the Senate Banking chair, Democrat Chris Dodd, have also been working together closely. "[Shelby's] folks are deeply engaged and we share...
Dodd and Shelby have proven to be a potent bipartisan combination already in 2009. When Dodd moved an aggressive, populist credit-card-reform bill out of committee without a single GOP vote, he negotiated with Shelby to craft legislation more appealing to the other side of the aisle. It passed the Senate in late March by a 90-5 vote...
...Senate at a crucial moment. He has had a near perfect record of conservatism on social and foreign-policy issues since then. The tall, drawling former prosecutor questioned Obama's citizenship this past February, and when Treasury Secretary Tim Geithner first unveiled the Administration's sweeping plan to reform the financial system in June, Shelby said of its goal to expand the Federal Reserve's regulatory power, "I personally believe this represents a grossly inflated view of the Fed's expertise...
Threading that political needle - while trying to stitch together a complex reform bill on which the stability of the entire financial system depends - is a long shot. But at least everyone involved has a reason to make...