November 6th, 2008
10:45 AM ET
14 years ago

A new day on Capitol Hill

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/11/06/art.caphillnew1106.gi.jpg caption="Old bills may get new life on Capitol Hill now that Democrats have increased their congressional muscle and taken control of the White House."]
NEW YORK (CNNMoney.com) - Spend tens if not hundreds of billions to boost the economy. Pass a law giving homeowners more leverage over lenders. Do more to address the growing ranks of unemployed workers.

There's a new day for economic policy in Washington.

The Democrats not only took back the White House - they gained a stronger hand in both chambers of Congress. As a result, in the 10 weeks before President-elect Barack Obama takes office and the months that follow, legislative leaders will likely revive a series of measures that failed to gain traction in the past year.

At the top of the agenda: stimulating the flagging economy.

Full story


Filed under: Capitol Hill • Congress • Democrats • Economy
soundoff (111 Responses)
  1. Ku Klux Klan

    It's sick to see that trash in the White House... something needs to be done to fix this.

    November 6, 2008 11:55 am at 11:55 am |
  2. Carlos Marrero

    I liked the Contract On America line. I use it myself.

    FDR put the country to work building infrastructure. Putting money into road and bridge improvements could boost the economy from the bottom up. We all know that trickle down does not work. I don't like the idea of another Stimulus Package because it's only a temporary patch that doesn't do much in the long term.

    Americans need to save: for a rainy day, for an emergency fund, for catastrophic medical costs, etc. Removing the taxes on interest income would allow more growth of savings in FDIC insured liquid accounts. It's great to put money in 401K's, but readily available cash is something we all need to have. If we can stop living on credit we can also discourage the financial industry from gambling on "debt commodities". If we want our government to be responsible, we must also be.

    Change is coming to America, but only if Americans are ready to do their part.

    I am a Democrat who is a social moderate and a fiscal conservative. Hard to be both? Not really. I am hopeful Barak Obama can steer this country on a better course.

    November 6, 2008 11:59 am at 11:59 am |
  3. Henry Miller, Cary, NC

    "Many of our options have been diminished because of the downturn in the economy in the last couple of months," Pelosi said. "The revenue foregone because of the financial crisis has changed the budget projections."

    In other words, as the economy recovers, you aren't going to see a dime of the benefits–Obama, Pelosi, and the rest of the socialists are going to snap up every cent they can tax out of anything that moves.

    November 6, 2008 11:59 am at 11:59 am |
  4. TC

    Now what will African Americans complain about since all injustices are wiped clean now that Obama is in office. The race card can't be used anymore... so what's next?

    November 6, 2008 11:59 am at 11:59 am |
  5. WOWWOW

    the,,,,,,,,,,,stock,,,,,,,,,,,,market,,,,,,,,,,,,,,so,,,,,,,,,,,far,,,,,,,,,,,,,showing,,,,,,,,,,,,,

    minus,,,,,,,,,,,,,,,,700,,,,,,,,,,,,points,,,,,,,,,,,,confidence,,,,,,,,,,in,,,,,,,,,,,,,,Obama,,,,,,,,,,,,,,

    this,,,,,,,,,,,far,,,,,,,,,,,,,that's,,,,,,,,,,,,,change ,,,,,,,,,,,you,,,,,,,,,,,can,,,,,,,,,,believe,

    in

    November 6, 2008 11:59 am at 11:59 am |
  6. Farrell, Houston, Tx

    Instead of people hating for whatever reason try using that energy to think of something constructive you can do to help our country in a time of economic crisis. Don't continue to be part of the problem, be part of the solution. That's where I spend my mental energy thinking about what I can do. There's profit in great ideals and we could all use money but there is no profit in hate.

    November 6, 2008 12:00 pm at 12:00 pm |
  7. David

    Disgusting, disgusting, disgusting!

    Can anyone ever write comments without being derogatory.

    McCain has pledged to help and support Obama anyway he can.

    Agree to disagree and keep your disparaging comments to yourself.

    A majority of the American people chose Obama and they did so because they thought he was a better candidate. This does not have to be blind support. Give those of us who supported Obama some credit. I am smart and intelligent and informed. I chose hope and inspiration over fear, hatred, racism, and bigotry.

    People with open minds can hear more clearly the messages of the candidates and I was one of those. I listened and made an informed decision.

    Obama's message is clear he is governing for the United States of America and in case you don't know what that means he is governing for everybody.

    McCain's message is also clear he will put country first and give Obama his full support and co-operation. Someone always loses and election but that does not give anyone the right to made rude and disparaging comments about the candidate who one or those who voted for him.

    November 6, 2008 12:01 pm at 12:01 pm |
  8. Rich Lady

    Good... Please spend my tax dollars in America for a change. Stop wasting money in Iraq and take care of home. Makes sense to me and most other Americans.

    November 6, 2008 12:01 pm at 12:01 pm |
  9. David

    Disgusting, disgusting, disgusting!

    Can anyone ever write comments without being derogatory.

    McCain has pledged to help and support Obama anyway he can.

    Agree to disagree and keep your disparaging comments to yourself.

    A majority of the American people chose Obama and they did so because they thought he was a better candidate. This does not have to be blind support. Give those of us who supported Obama some credit. I am smart and intelligent and informed. I chose hope and inspiration over fear, hatred, racism, and bigotry.

    People with open minds can hear more clearly the messages of the candidates and I was one of those. I listened and made an informed decision.

    Obama's message is clear he is governing for the United States of America and in case you don't know what that means he is governing for everybody.

    McCain's message is also clear he will put country first and give Obama his full support and co-operation. Someone always loses an election but that does not give anyone the right to maok rude and disparaging comments about the candidate who won or those who voted for him.

    November 6, 2008 12:03 pm at 12:03 pm |
  10. David

    Disgusting, disgusting, disgusting!

    Can anyone ever write comments without being derogatory.

    McCain has pledged to help and support Obama anyway he can.

    Agree to disagree and keep your disparaging comments to yourself.

    A majority of the American people chose Obama and they did so because they thought he was a better candidate. This does not have to be blind support. Give those of us who supported Obama some credit. I am smart and intelligent and informed. I chose hope and inspiration over fear, hatred, racism, and bigotry.

    People with open minds can hear more clearly the messages of the candidates and I was one of those. I listened and made an informed decision.

    Obama's message is clear he is governing for the United States of America and in case you don't know what that means he is governing for everybody.

    McCain's message is also clear he will put country first and give Obama his full support and co-operation. Someone always loses an election but that does not give anyone the right to make rude and disparaging comments about the candidate who won or those who voted for him.

    November 6, 2008 12:03 pm at 12:03 pm |
  11. Sandra

    How can the Rep's blame Clinton for the mess the country is in.The ill will of other nations towards us,the war ,no regulations for the banking industry,trickle down economy,huge debt all this they blame on Clinton.Take some responsibility for the Bush years.If he didn't like what the left,for him ,he had the power to change it.When you elect a C student ,who surrounds himself with yes men you get C results..in this case F results.When all is said and done , judge the Democrates and Obama after they are in power not before.How could they possibly be worse than the group we've all had to put up with over the last 4 years?At the very least, give them a chance.I'm sure that many Republicans enjoy receiving checks from Social Security ,health care from Medicare and these have proven to be good SOCIAL programs.Sometimes a bit of social programs aren't so bad.Don't believe all the misinformation out there..Give the new team the benefit of the doubt until they prove other wise.

    November 6, 2008 12:05 pm at 12:05 pm |
  12. Kim in Atl, GA

    To TC, electing a black/white president does not wipe away any injustices, one right never corrects the wrong. Electing Obama was right for the country and that's good... but the fight for justice for the terror of Blacks in the United States and by the United States continues on!

    November 6, 2008 12:05 pm at 12:05 pm |
  13. Robert The Man

    In all seriousness, I know the MAJORITY supported Obama, but my question is, IF<<<< KEYWORD IF he does mess things up, and does something that is unconstitutional, DEMOCRATS, do you blame us for putting this all on you? I am a firm Republican, and I do not agree with everything George W did, but at least I am man enough to own up to that. The question is, as Democrats will you people be man enough to own up to the person you just put in office? Or will you just still blame it on Bush? If he does mess things up, Democrats the, the wrath will come down on you hard. But Like I said, will you be man or woman enough to own up to it?

    November 6, 2008 12:05 pm at 12:05 pm |
  14. Its a New Day

    I have to admit I did not vote for Obama this time, base solely upon I differ with him on one party rule. I'm not sure its going to workout but I'm willing to give it a whirl. In four years we can change again: if needed. I wish Obama, the best of luck and will support him for this term, can't speak of 4yrs from now, he has to deliver now. I would have been overjoyed if Hillary Clinton was on the ballot, I could have voted for them, I know Hillary from meeting her and her record. I guess the true measure will come in 2yrs for the Obama Admin. if I do well or atleast better than now I'll think about a 2nd term.

    November 6, 2008 12:06 pm at 12:06 pm |
  15. ran

    Now the real work begins and lets us see how cooperative the Republicans are going to be.

    We the people need to demand that our elected officials work for us and not the special interest groups as before.

    I am a bit sadden and disappointed that AK would have reelected Stevens. Hopefully the Senate will kick him out .

    People if we want true change then we must demand it of everyone and that means us as well.

    November 6, 2008 12:07 pm at 12:07 pm |
  16. BT

    The reason our country is in such a mess is because of GW Bush.
    He will go down in history as the WORST president this country has ever had in office.
    Of course the stock market is down, we have been told for two months now that things are only going to get worse. Even Palin has said that it was the economic mess that sunk their party.
    If you need someone to blame – blame the idiot that is now in office!

    November 6, 2008 12:07 pm at 12:07 pm |
  17. Market watcher

    I said the Dow would lose 1000 points in the wake of an Obama victory, and it looks like my prediciton is well on its way to fulfillment. I think we'll probably see the market bottom out around 7500. It will start to rebuild after the first of the year, but get ready for a dismal Xmas. I hate to say I told you so, but, I TOLD YOU SO.

    November 6, 2008 12:11 pm at 12:11 pm |
  18. Chris from St. Louis

    Some thing needs to be done with the stock market. Our 401K is vanishing .... Even good companies are being hit.

    One solution is .... all Americans who has money to invest .... please buy stocks in good companies. You won't regret down the road when market returns to normalcy.

    November 6, 2008 12:11 pm at 12:11 pm |
  19. DC

    The electoral system here needs to be fixed ... view state by state and can't understand why so much of the states in red could be given to Obama for victory over McCain. More red through the areas of each state which really doesn't make sense. Projections made even before votes were counted. Was it really a fair system... why do electoral votes in different areas have more than others?

    November 6, 2008 12:11 pm at 12:11 pm |
  20. Joe in NJ

    It will be a new day when Pelosi and Reid are gone.

    November 6, 2008 12:12 pm at 12:12 pm |
  21. ANNE

    SOME OF YOU PEOPLE SURE SOUND HATEFUL OF YOUR NEW PRESIDENT....NOW YOU KNOW HOW IT FELT BY THE AFRICAN AMERICAN ANCESTORS WHO WERE SLAVES, WHO WAS SO AFRAID & HATED THEIR "WHITE "MASTER, BUT THE DIFFERENCE BETWEEN THEN & NOW...THEY COULDN'T SHOW IT UNLESS THEY WANTED TO BE BEATEN OR KILLED....AT LEAST YOU & YOUR ANCESTORS HAVE HAD THE OPPORTUNITY OF FREE SPEECH!!!

    CNN PLEASE POST....THANK YOU.

    November 6, 2008 12:12 pm at 12:12 pm |
  22. Michael in Houston

    Well we are 48 hrs in and the hate filled racist are alive and well. I love the thought pattern of the racist: "African Americans don't have anything to complain about because the playing field is level" What??? It's people like you that keep the playing field unequal. Just because we have an A.A. President doesn't mean that you racist idiots will all of sudden put your hoods away. We know that. We have been beating you racists at your game for a long time and we will not stop. We will keep kicking your butts until you realize you cannot defeat us. (Us=People with sane mentalities and civilized people). Now I know racist it is a hard, all that you were TAUGHT about A.A. has been a lie and you are pissed at your mommies and daddies for lying to you but, it will be okay. Now sit back, watch how a country is supposed to ran, and find a better wardrobe person, White hoods and your old bed sheets are not flattering.

    November 6, 2008 12:13 pm at 12:13 pm |
  23. ran

    I will take Socialism over a Dictatorship every time.

    People we have a great chance to get this country back for us all; but we have to work for it and not allow our elected officials to throw away this great chance because of any vendedor.

    Demand that they work for the people this time.

    November 6, 2008 12:14 pm at 12:14 pm |
  24. Marc

    Rick, even John McCain is ready to support Barack Obama. Why? Because he is a good loser and (more important) a TRUE patriot. He knows that the Bush legacy isn't something that a man alone (even if this man is the POTUS) can undo in less than a week or even an year.
    And you, and other bad losers around (WOWOW, MD, KC, etc...), pretend to don't do your part, just sit and watch what your great wisdom and judgement tells you that will be a disaster for the US. Great guy...
    So if Obama is that bad, fight him. I am not saying that you have to physically harm him or else. Remember, this is a democracy, so you can be part of something called 'opposition'. You have this right.
    So denounce any broken promise (it will be easy to do since he MADE THEM), denounce anything that he or his administration does that is (at least in your view) unpatriotic and/or illegal.
    YOU HAVE THIS RIGHT, SO USE IT!
    Or you can stay as you are, spilling your hate and biased facts in posts while HE'S at work (and unlike you, that idea doesn't frightens me one bit!).

    November 6, 2008 12:15 pm at 12:15 pm |
  25. Jeremiah

    Don't Expect much from the Reid – Pelosi gang.
    They did nothing these past 2 years.

    They could not even impeach George Bush !!!
    The only change now is that the gang got bigger !!!

    November 6, 2008 12:18 pm at 12:18 pm |
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