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Stephanopoulos: Pelosi Offers to Postpone Congress' Adjournment to Address Economic Crisis
September 18, 2008 6:28 PM
ABC News' George Stephanopoulos reports: In a letter to President Bush, House Speaker Nancy Pelosi offered this afternoon to postpone Congress' planned adjournment next Friday, Sept. 26, to address the ongoing financial crisis.
In the letter, Pelosi says she wants to ensure a consistent approach to the "ongoing market turmoil" by developing a bipartisan recovery effort.
The speaker's letter signals that Democrats are prepared to accept the president's plan for Wall Street, but also demands a second stimulus package targeted at Main Street.
Pelosi says such a package must include five components: "Investment in infrastructure for economic growth and job creation here at home, home heating assistance at a time of record energy costs, extended Unemployment Insurance for the growing number of Americans looking for work, Food Stamps that will help ensure we feed hungry families in a time of crisis, and assistance to maintain critical health care coverage jeopardized by state budget cuts."
Pelosi says she wants to "balance accountability to the U.S. taxpayer with protecting American families from the crisis's fallout."
Below is the full text of the letter:
September 18, 2008
Dear Mr. President:
The worsening crisis in our financial markets demands strong solutions and decisive leadership.
Already, House and Senate committees are investigating both the regulatory lapses and market oversight failures that resulted in this crisis, as well as possible solutions. This work will continue.
Accordingly, we stand ready beyond the targeted adjournment date of September 26, to permit Congress to consider legislative proposals and conduct necessary investigations.
Going forward, we need to understand how government failed to prevent this financial crisis, and how we can avoid future mismanagement and denial.
Thus far, we have seen a reactive, case-by-case approach to a severe crisis -– a crisis attributable, in part, to a history of indifference to responsible regulation of the financial markets. We need to hear from you about a comprehensive and effective systemic response to ongoing market turmoil -- one that will restore stability, grow our economy, create jobs, and insulate hardworking, middle-class Americans on Main Street from Wall Street’s crisis.
The worsening economy demands another bipartisan economic recovery effort. This effort must address:
Investment in infrastructure for economic growth and job creation here at home;
home heating assistance at a time of record energy costs;
extended Unemployment Insurance for the growing number of Americans looking for work;
Food Stamps that will help ensure we feed hungry families in a time of crisis; and
assistance to maintain critical health care coverage jeopardized by state budget cuts.
We stand ready to work with you and your administration to consider constructive solutions that stabilize our financial markets and balance accountability to the U.S. taxpayer with protecting American families from the crisis’s fallout.
Thank you for your willingness to work with us to address these issues, which affect every American family.
Sincerely,
Nancy Pelosi
Speaker of the House
September 18, 2008 | Permalink | User Comments (150)
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Nancy Pelosi dated Che Guevarra when she was in college. She also has phone sex with Hugo Chavez. Cheers
Posted by: Patricio | Sep 18, 2008 7:27:54 PM
Here in Seattle... the Democrats Hard at work in their Machinists Union strike....30,000 employess on strike want to make 77,000 instead of the the 65,000 a year...Brilliant democrats will shut down Boeing and move the 30,000 jobs overseas... thank you democrats!! In a message to Boeing employees posted on the company Web site Saturday, lead negotiator Doug Kight said the employees' decision on the contract — as they study the impact on their families — would come down to "kitchen-table economics."Under the current contract, Machinists earn an average base pay of $54,000 a year, or $65,000 with overtime.The company offer would, by the end of the three-year contract, increase average base pay to $65,000, or $77,000 with overtime.The company sees a hefty compensation increase. Union leaders see less than they wanted in the wage and pension increases and some raised medical costs. All I can do is laugh when all the beer belly, smoking picketers are at the unemployment line crying about there loss of a job…….instead of standing on the sidewalk in front of there company with there signs screaming-look what Bush did to us. LOL aka Hypocrites
Posted by: SeanBean | Sep 18, 2008 7:28:22 PM
It is both presumptuous and arrogant for Pelosi to try to tell the President what he must do. Remember, the Congress, lead by Democrats in both houses, have the lowest approval rating, NOT President Bush. It is unfortunate that the Democrats as a whole sort of ignore the progress in Iraq, but seize on the financial crisis and the high price of fuel and food, to which THEY contributed. They did so by categorically refusing to let oil companies drill where we know of substantial billions of barrels of oil and plenty of natural gas, and then, are stupid enough to refuse to let states have royalties and incentives to drill offshore. What many voters do not understand, is that the Democrats are holding back Congressional action in the House and Senate. They only prosper during chaos, racial, economic, gender and other types of strife among voters. How pathetic of the American Socialist Party. Yes, we DO need change, and McCain/Palin are far more likely to bring it about in reality, not just in rehetoric, from the least prepared candidate for President in my lifetime.
Posted by: curtis41 | Sep 18, 2008 7:29:46 PM
I have heard that Nancy Pelosi and Barbara Boxer are involved in a lesbian affair. They plan to divorce their current spouses and remnarry at SF City hall. Gavin Grusome will preside over the ceremony, they will honeymoon on Alcatraz island getting locked up in cells and practicing S&M
Posted by: Patricio | Sep 18, 2008 7:30:38 PM
theregoesthecountry While I probably don't care for Ms Pelosi as much as you do, I think we'd do better to present facts like the fact that she flew off in her taxpayer paid jet for recess to promote her book (how many hundreds has it sold?) instead of working to get a drilling bill onto the floor. But since she doesn't drive she had no idea last summer what the cost of gas was ($2.67?).
Posted by: deanbob | Sep 18, 2008 7:30:52 PM
patricio - that's not her real face, that's plastic, which looks like a melt-down is accuring right before her own eyes, and who's to blame for that! tell's ya alot about decision making!
McCain/Palin 2008
Posted by: timmaaa7 | Sep 18, 2008 7:32:30 PM
Pelosi - plastic surgery's greatest failure!
Posted by: dl | Sep 18, 2008 7:33:27 PM
Niko_in_Oakland I disagree. I think we need to put them in front of the House(on trial) to find out their complicity in Freddy and Fannie.
Posted by: deanbob | Sep 18, 2008 7:35:34 PM
wow, its almost as if people don't see that this is a real opportunity. Bipartisan opportunity. All you haters of pelosi and bush should just stick it and hope that working together can acatually do something productive. I mean democrats and republicans alike, just be happy that this problem is BIGGER!!!!!! than the parties, and it is time people acted like it (in this blogosphere too).
Posted by: Gradwrkout | Sep 18, 2008 7:37:12 PM
Nancy Pelosi
Being a Democrat I thought you may do some justice...I really had good feelings about you..BUT now that has all changed..you are a shame to the Democrat Party
You need to get your act together, and not worry about others..
Bottom line, shape up Pelosi
Posted by: Wally J | Sep 18, 2008 7:38:15 PM
Congress helped get us here, what good are they going to do???
Posted by: Krn | Sep 18, 2008 7:38:16 PM
curtis41 - i could not have said it better myself, right on bro!
Posted by: timmaaa7 | Sep 18, 2008 7:39:28 PM
Earlier Nancy had just blamed Bush. This latest Nancy "speak" means "were all guilty as hell" and of course wish to cover their rears.
Posted by: david | Sep 18, 2008 7:41:53 PM
Remember a few months back when Russia tested a financial cyber-attack against one of their former states?
...you gotta wonder...
Posted by: theregoesthecountry | Sep 18, 2008 7:43:06 PM
dl - still trying to blame the Democratic Congress that's been sitting for less than two years for the previous 12 years of Republican deregulation and mismanagement? Get a new script - nobody is buying that crap anymore and if you bring that up in front of sensible people we will slap the stupid out of you. Time for you partisan Republicans to man up and take some responsibility for your failure.
Posted by: American Gun Rights | Sep 18, 2008 7:43:17 PM
Just kidding - I'm not a Democrat and I never was. Hail Bush! Hail Rove! Hail FOX!
Posted by: Wally J | Sep 18, 2008 7:44:28 PM
Heros of the days:
Henry Paulson, Ben Bernanke
Goats of the day:
WallStreet Banks CEO
Clowns of the day: Bush , Pelosi , Reed and the rest of the Congress.
Posted by: malesiansmoker | Sep 18, 2008 7:44:32 PM
If Pro and Con are opposites... then what's the opposite of Progress?
Posted by: theregoesthecountry | Sep 18, 2008 7:45:19 PM
OH AN BY THE WAY DEAR NANCY THANKS JUST FOUND OUT I MAY LOSE MY JOB TODAY AND I DON'T BLAME BUSH OR THE REPUBLICANS I BLAME YOU, THE DEMOCRATS AND THE AMERICANS WHO PURCHASED HOMES THEY COULD NOT AFFORD! GUESS WHAT ANOTHER VOTE JUST WENT TO MCCAIN!!!!!!!!!
Posted by: GM | Sep 18, 2008 7:45:30 PM
gradwrkout - pelosi? please! she's the worst when it come's to coming to the middle and working with republicans, let alone bush, please! have you seen any, i mean aaannnyyyy liberal's come to the middle to fix the problem? i'd say nnnoooooo!!!
Posted by: timmaaa7 | Sep 18, 2008 7:45:58 PM
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