Word: republicanized
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Students said they saw the address as an effort to bolster the Democratic Party’s momentum, which took a hit after Republican Scott P. Brown won a historically Democratic seat in the Mass. senatorial election last week. Brown will be the 41st Republican Senator, giving his party filibuster power that could derail the Democrats’ plans for health care reform...
...That was a bumpy road even before Massachusetts left Democrats with only 59; months of bipartisan Senate negotiations over health care reform attracted zero Republican votes, as did the financial-reform package that passed the House in December. And White House officials admit they underestimated how ugly Capitol Hill's sausagemaking process would look in the spotlight, turning a debate about expanding health coverage, controlling costs and reining in the abuses of profit-obsessed insurers into a brawl over "death panels," taxpayer-funded abortions and congressional giveaways to Nebraska. (See the financial crisis after one year...
...resolution authority and regulate systemic risks, a loophole exempting "industrial loan companies" from various regulations, more loopholes shielding community banks and auto dealers (known for their pull with local Congressmen) from the new consumer agency's direct oversight. House Financial Services Committee chairman Barney Frank points out that the Republican alternative to the bill consisted of ending TARP and otherwise maintaining the status quo; he's surprised the GOP hasn't paid a political price. "I'm disappointed with the zeitgeist," Frank says. "The Republicans are so extreme they couldn't help themselves; they actually proposed doing nothing. I would...
...problem, as usual, is the Senate - and, in an election year, the calendar. Republicans are already suggesting that Obama's belated push for the Volcker rule and other add-ons will require new hearings and more delay, and that its line-in-the-sand approach to the consumer agency is a formula for gridlock. Meanwhile, in the post-Massachusetts political climate - and with so much industry cash sloshing around in Washington - centrist Democrats seem to fear getting tagged as Obama liberals more than they fear getting tagged as Wall Street water carriers. And the White House would rather see reform...
...While the Democrats at times seemed to be considering the exits, the Republicans in the crowd handled the event with a renewed sense of confidence. A few minutes before Obama arrived, Republican Representative Mike Pence, standing in Statuary Hall, explained that he had turned down a chance to run for the Senate so he could help lead Republicans back to power in the House. "This is a genuine, authentic, American movement," he said of the political winds that had won Republicans statewide races in New Jersey, Massachusetts and Virginia...