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Schwarzenegger Budget Deals Blow To The Poor, Compromise Hopes Dim
Obama: 'Wall Street Reform Will Bring Greater Security To Folks On Main Street'
In this weekend's YouTube address, President Obama promoted what he said would be the benefits of the financial reform bill currently being considered in the Senate, in the areas of consumer protection and institutional oversight.
"With reform, we'll make our financial system more transparent by bringing the kinds of complex, backroom deals that helped trigger this crisis into the light of day," said Obama. "We'll prevent banks from taking on so much risk that they could collapse and threaten our whole economy. And we'll give shareholders more of a say on pay to help change the perverse incentives that encouraged reckless risk-taking in the first place. Put simply, Wall Street reform will bring greater security to folks on Main Street."
GOP Rep. Lee: 'Less Spending, More Jobs: It's That Simple'
In this weekend's Republican address, Rep. Chris Lee (R-NY) criticized the Obama administration and the Democrats on the issue of the budget deficit. And Lee maintained that cutting federal spending would improve employment.
"So our choice is this: make the tough decisions required to put our fiscal house in order or continue to duck them. That's why Republicans have proposed several initiatives to cut spending now and make Washington do more with less, just as families and small businesses are," said Lee. "We have asked President Obama to use his authority under the law to force Congress to consider spending cuts. We have also imposed an immediate, unilateral earmark ban and called for the savings to be used to reduce the deficit. And we have proposed strict budget caps to limit federal spending on an annual basis. Less spending, more jobs: it's that simple."
Last week's poll had asked:
Is the Greece bail-out a good deal for Europe? JL readers answered no. This week's poll is now up.
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