Rep. Dave Loebsack not impressed with unemployment rate drop

The U.S. economy added 216,000 jobs in March to beat economists’ predictions. The additions dropped the nation’s overall unemployment rate from 8.9 to 8.8 percent, but U.S. Rep. Dave Loebsack says there’s more that can be done.

“I come home every weekend, and what I hear time and time again More…

Sanders mounting filibuster now against tax cut deal

Sen. Bernie Sanders (I-Vt.) is mounting a filibuster in the U.S. Senate right now against the Bush tax cuts deal brokered by President Obama and congressional Republicans. He has been speaking since 10:25 a.m. EST against the tax cuts for the wealthy and corporations, and his office writes that More…

Hands Off Social Security

Eleven Democratic senators have signed onto a resolution, sponsored by Sen. Bernie Sanders (I-Vt.), vowing to strike down any proposal by the White House debt commission to reduce Social Security benefits, including raising the retirement age.

Brown Agrees with Steelworkers: China’s Green Tech Subsidies Unfair

Sen. Sherrod Brown (D-Ohio) is backing a petition filed to the Obama administration today by the United Steelworkers that accuses China of violating World Trade Organization rules by unfairly subsidizing exports of materials and equipment necessary to develop green energy technology.

With Loss of COBRA Subsidy, Newly Unemployed Face Tripling of Insurance Costs

In the first week of July, Andie Davis’ husband, who worked in manufacturing, lost his job, as hundreds of thousands of Michiganders have since the onset of the recession. Soon after, he started collecting unemployment insurance benefits that might last the family of four as long as 99 weeks. Davis More…

Sens. Reed and Brown Lament GOP Obstruction on Unemployment Benefits Extension

Tomorrow, the federal extension of unemployment benefits held up for two months in the Senate should pass. On a call with reporters this afternoon, Sens. Jack Reed (D-R.I.) and Sherrod Brown (D-Ohio) lauded the extension but bashed Republicans for holding up the bill and causing the loss of benefits More…

Stabenow, Brown Lash Out at Republicans for Killing Jobs Bill

Earlier today, I participated in a reporters’ call with Sens. Debbie Stabenow (D-Mich.) and Sherrod Brown (D-Ohio), regarding the collapse of the jobs bill, also known as the extenders package or H.R. 4213, yesterday. They lashed out at Republicans and made the case for the stimulative effect of More…

Fed Governor Blasts FinReg as Ineffectual Against Too Big to Fail

In a speech given at the SW Graduate School of Banking yesterday evening, Richard Fisher, the president of the Federal Reserve Bank of Dallas, blasted the financial regulatory reform effort currently in conference committee as ineffectual. In particular, Fisher said the bill would do nothing to end the issue More…

Break Up the Banks Fails, Audit the Fed Waits

Last night, after debating Sen. Bernie Sanders’ (I-Vt.) Audit the Fed amendment, the Senate did not end up voting on it. Why? Two reasons. First of all, Sanders and Sen. Chris Dodd (D-Conn.), the architect of the reform bill, agreed to tweak the amendment to make it weaker — a More…

Audit the Fed Politicking Heats Up, as Reid Indicates His Yes Vote

Senate Majority Leader Harry Reid (D-Nev.) tells Ryan Grim of the Huffington Post that he is leaning toward voting for two controversial amendments: one provision by Sen. Ted Kaufman (D-Del.) and Sen. Sherrod Brown (D-Ohio) to break up big banks and create hard asset and leverage caps, and More…