The Commentariat -- December 1
Politico: "House Republicans will scrap the committee set up by Speaker Nancy Pelosi to investigate global warming, the panel’s top Republican announced Wednesday. Rep. Jim Sensenbrenner (R-Wis.) made official what many had already expected — the GOP majority will axe the Select Committee on Energy Independence and Global Warming...."
Bloomberg News: "The Federal Reserve, under orders from Congress, today named the counterparties of about 21,000 transactions from $3.3 trillion in aid provided to stem the worst financial panic since the Great Depression." ...
New York Times: "The Obama administration is rescinding its decision to expand offshore exploration into the eastern Gulf of Mexico and along the Atlantic Coast because of the BP oil spill, administration officials said Tuesday."
President Obama meets with Gen. Colin Powell:
Bruce Bartlett of Capital Gains & Games on an "important" economic speech by Republican Rep. Mike Pence, who is likely to run for governor of Indiana: "Pence's speech ... was a hackneyed rehash of every simplistic idea ever floated on Larry Kudlow's TV show, which appears to be the only source of information Pence has on the economy. I don't know how else to explain his obsession with inflation, a strong dollar, Fed bashing, tax cuts and the gold standard."
Sen. Chris Dodd sings his swan song:
Politics as Criminal Exercise. Michael Scherer of Time on the Tom DeLay verdict: "In Washington, it is widely assumed that the difference between bribery and proper business practices is not being stupid: Don't write down any evidence of a quid pro quo. Always maintain plausible deniability. Always maintain that financial backscratching is a result of deep respect, mutual admiration and altruism, not transactional value."
Shailagh Murray & Perry Bacon of the Washington Post on yesterday White House meeting with Congressional leaders: "... according to people in the room, both sides engaged in the kind of cross-party dealmaking that seems to have faded away in today's Washington. The participants emerged smiling and with a loose framework - though they did not outline it publicly - that could result in the temporary extension of all the tax cuts, as well as the ratification of a nuclear arms treaty with Russia, the continuation of unemployment benefits and funding for government operations into next year." ...
... Dana Milbank was less impressed with the non-results: "Boehner, in his news conference, wasn't unduly optimistic as he explained: 'We had a very nice meeting today. Of course, we've had a lot of very nice meetings....' That was about the time Obama began his competing statement, which included a lament about the 'hyperpartisan climate' in which 'both sides come to the table. They read their talking points. Then they head out to the microphones, trying to win the news cycle instead of solving problems.' Obama called that 'a game that we can't afford.' The statement might have carried more weight if Obama hadn't just preempted his opponents' news conference." ...
... So was David Leonhardt of the New York Times: "Much of the recent commentary about the tax cuts has skipped over this political reality." Leonhardt goes into what the limited Democratic options are, but his bottom line is that -- once again -- they will cave to Republicans. ...
... Sam Stein: Obama outsources negotiations with Republicans, Democrats are in their usual disarray & Schumer touts his million-dollar deal.
... Let's factor in this AP story in today's news: "Senate Republicans intend to block action on virtually all Democratic-backed legislation unrelated to tax cuts and government spending in the current postelection session of Congress." ...
... Update: here's the Republican leaders' hostage letter, now signed by all 42 Senate Republicans.
... Jena McGregor of the Washington Post: "Never mind that Senate Republicans have obstinately fought most Democratic legislation for the past two years already. Now they want to make it official. Whether it's a political gimmick or a real effort to force a focus on urgent deadlines, the letter sets aside a reality of productive leadership we expect from the people we elect."
Jackie Calmes & Peter Baker of the New York Times: "The chairmen of ’s debt-reduction commission have been unable to win support from any of the panel’s elected officials for their proposed spending cuts and tax increases, underscoring the reluctance of both parties to risk short-term political backlash in pursuit of the nation’s long-term fiscal health. The chairmen of the commission ... delayed for two days, until Friday, a final vote by its 18 members."...
... Here's a pdf of the report, via Firedoglake.
... AP Update: "A tough new cost-cutting playbook submitted by the co-chairmen of President Barack Obama's deficit commission has been embraced by Sens. Kent Conrad and Judd Gregg, the first two elected officials to endorse it."
... Paul Krugman: "Bowles-Simpson, the revision, is out. It has not improved." ...
... Matt Yglesias: "Surely the strangest thing about the Bowles-Simpson debt reduction plan is that, relative to current law, it . . . increases the public debt load over the next ten years.... Barack Obama saying 'I will veto any laws that increase the deficit relative to current law' would do more to reduce the debt over the next 2 or 6 years than would adopting Simpson-Bowles."
Richard Stengel of Time interviews Julian Assange. ...
... Glenn Greenwald on the attacks on WikiLeaks founder Julian Assange. ...
... Edward Djerjian & Christoper Bronk of Foreign Policy: "While the Times has worked with the Obama administration to remove information of potential harm to national security, unredacted release of the cables by WikiLeaks may hold a cost measured in lives.... The leak of U.S. diplomatic cables may well produce an environment in which American diplomats will be shut out of confidential exchanges and the decision-making processes of U.S. allies and friends around the globe."
Millionaires Club, Washington Chapter. Erika Lovely & Jake Sherman of Politico: more than a quarter of the new Republicans coming to Congress are millionaires.
George W. Bush, in a Washington Post op-ed, recounts progress, particularly in sub-Saharan Africa, on the U.S.'s fight against AIDS but says more must be done.
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