Reid Labeled The Most Vulnerable Incumbent

LAS VEGAS REVIEW-JOURNAL: Sen. Harry Reid is holding a reservations-only forum at the University of Nevada, Las Vegas today to talk about health care, a divisive subject that has contributed to his new status as ''most vulnerable incumbent'' in 2010, according to a top political tracker.

Reid's unpopularity with his home state crowd is nothing new; his poll numbers have been plunging ever since he became Senate majority leader and began leading the Democratic Party's efforts to reform the nation's health care system as promised by President Barack Obama.

What's new is that Sen. Chris Dodd, D-Conn., announced Wednesday that he wouldn't run for re-election, which means Reid now replaces Dodd as the Democrat most likely to lose in what the Cook Political Report shows as ''toss-up'' Senate races.  "Reid is now the most vulnerable incumbent based mostly on poll numbers,'' Cook's Jennifer Duffy said. She noted that he's trailing in early opinion surveys against two Republicans: Sue Lowden, ex-chairwoman of the Nevada Republican Party and a former state senator, and businessman Danny Tarkanian, a former UNLV basketball star. More than a half-dozen other lesser-known Republicans also are challenging Reid. . . .


Reid spokesman Jon Summers dismissed outside surveys, saying, "Our internal polling shows us beating all of our potential opponents'' without offering details. "Senator Reid is focused on creating jobs in Nevada and getting the state's economy back on track,'' he added.

In early December, a poll commissioned by the Las Vegas Review-Journal showed 50 percent of Nevadans disapproved of Reid's efforts to get a health care bill through the Senate. Some 39 percent approved and 11 percent weren't sure. Mason-Dixon conducted the survey of 625 registered voters. . . . [Full Story]

Obama, Pelosi, Reid, Reins

From Right Change

Republicans Democrats Fannie Mae Freddie Mac

Major "Earmark" in Democrat Bailout Agreement

Update (9:58AM, Sept. 26th): While Sens. Harry Reid and Chris Dodd stand before the news this morning pontificating and mocking Republicans, especially Sen McCain, for the perceived delay in reaching agreement, they also continues to prevaricate. Sen. Reid and Speaker Pelosi initially asserted that they needed McCain to clinch a deal for Democrats and now they are like a pack rabid dogs blaming John McCain for the deal falling apart. In fact, the deal fell apart before McCain arrived.

A republican senate source has confirmed that the questioned provision reported in this post is being opposed by Senate Republicans which has upset Democrats. Republicans are not opposing the obvious issues identified by Reid. They are working to get rid of the questioned provision "if they can." Also, they have already gotten the Democrats to back down from providing "most" of the money ("future profits") to the groups mentioned in the article "to a much smaller percentage." Negotiations are likely to continue throughout the day. Obviously no one is happy - especially the majority of the American public.

Breaking News - Bill Smith, ARRA Editor. I received a copy of "Agreement in Principle" relative to the $700 billion "bailout" being proposed and supported by Senate Democrats. The one page agreement from the U.S. Senate Banking Committee details guidelines to be put in place relative to taxpayer protection, oversight and transparency, home ownership preservation and Funding Authority.

While on the surface the agreement looks generic and positive, However, the "devil is in the detail." There is one detail that Democrats are concerned that Republicans will not agree to in the bailout agreement. That is if the Republicans even see the item. It seems that this issue may be one reason that many Democrats have hounded Sen. John McCain and pushed for his speedy approval. Senate Majority Harry Reid (D-NV) has already identified that it is Sen. John McCain's approval, not Barack Obama approval, that is needed to secure the agreement of Senate Republicans. In fact, the questioned provision indirectly focus on some prior concern regarding Sen. Barack Obama involvement with various organizations. Maybe that is why Obama would prefer being at a debate in Mississippi than being in Washington D.C.

House Speaker Nancy Pelosi's (D-CA) cohorts are also hounding Sen. McCain to agree. They know that neither the House Republicans nor the House Blue Dog Democrats are going to sign on easily to an agreement extending $700 billion "bailout" if Sen. McCain disagrees. Pelosi does not have control of the fiscally conservative Blue Dogs who are not happy with committing $700 billion to the "bailout" effort.

In the "agreement in principle," there is the effect of a major "earmark" which commits money from future "profits" to be given to nonprofits organizations like ACORN, National Council of La Raza and potentially the National Urban League. This agreement clearly evidences that the Government expects to benefit in the future from the bailout when the values of property rises and mortgages or properties are then sold by the Federal government. The agreement --

"Directs a certain percentage of future profits to the Affordable Housing Fund and the Capital Magnet Fund to meet America's housing needs."

In the proposed bailout agreement, Sen. Christopher Dodd, the Senate Banking Committee and other Democrats desire to pre-direct that future funds (profits) not be returned to the taxpayers via the treasury but that they be used to underwrite potential questionable (maybe even illegal activities) of certain nonprofits which have had a hand in promoting and expanding access to "no money down" loans for minorities, illegal voter registrations and extensive lobbying activities.

Let’s examine the connection of the Affordable Housing Fund and the Capital Magnet Fund with the various nonprofit groups mentioned above. In July, 2008, a Wall Street Journal article addressed the previous housing bill signed into law:

Provide[d] a stream of billions of dollars for distressed homeowners and communities and the nonprofit groups that serve them. One of the biggest likely beneficiaries, despite Republican objections is Acorn, a housing advocacy group that also helps lead ambitious voter-registration efforts benefiting Democrats. Acorn -- made up of several legally distinct groups under that name -- has become an important player in the Democrats' effort to win the White House. Its voter mobilization arm is co-managing a $15.9 million campaign with the group Project Vote to register 1.2 million low-income Hispanics and African-Americans, who are among those most likely to vote Democratic. Technically nonpartisan, the effort is one of the largest such voter-registration drives on record.

The organization's main advocacy group lobbied hard for passage of the housing bill, which provides nearly $5 billion for affordable housing, financial counseling and mortgage restructuring for people and neighborhoods affected by the housing meltdown. A third Acorn arm, its housing corporation, does a large share of that work on the ground. Acorn's multiple roles show how two fronts of activism -- housing for the poor and voter mobilization -- have converged closely in this election year. The fortunes of both parties will hinge in part on their plans for addressing the fall of the nation's housing market and the painful economic slowdown. . . .

Partly because of the role of Acorn and other housing advocacy groups, the White House and its allies in Congress resisted Democrats' plans to include money for a new affordable-housing trust fund and $4 billion in grants to restore housing in devastated neighborhoods. In the end, the money stayed in the bill; the White House saw little choice. What most riles Republicans about the bill is the symbiotic relationship between the Democratic Party and the housing advocacy groups, of which Acorn is among the biggest. Groups such as the National Council of La Raza and the National Urban League also lobby to secure government-funded services for their members and seek to move them to the voting booth. Acorn has been singled out for criticism because of its reach, its endorsements of Democrats, and past flaws in its bookkeeping and voter-registration efforts that its detractors in Congress have seized upon. . . .

Sen. Obama is especially reliant on registration drives, such as Acorn's with Project Vote, to help him win the White House. The Illinois Democrat draws his strongest support from blacks, Hispanics and young people, groups that are among the least likely to be registered. After law school, Sen. Obama was the director of Project Vote in Chicago. . . .

Democrats on Capitol Hill have helped to steer millions of dollars in housing and other grants from the federal government toward Acorn and groups like it. The groups must qualify and compete for the money, which is typically doled out from the federal government to states and municipalities. The housing package includes a new, permanent source of affordable-housing money that congressional Democrats and grassroots groups have sought for years. The Affordable Housing Trust Fund and the Capital Magnet Fund will be funded by a tax on mortgages backed by Fannie Mae and Freddie Mac, the government-sponsored mortgage titans.

That tax eventually will channel upwards of $600 million annually in grants for developing and restoring housing, mostly as low-income rentals, available to Acorn and other groups. Democrats on Capitol Hill and housing groups say the housing-assistance money is vital to helping Americans hit hardest by what some call the largest drop in home values since the Great Depression. But they acknowledge the perception of political conflict in giving federal funds to an organization that does political work. "We are guarding against it," said Massachusetts Rep. Barney Frank in an interview. He secured the Affordable Housing Trust from his seat as chairman of the House Financial Services Committee. . . .

Acorn describes itself as the nation's largest grassroots community organization, with more than 400,000 families organized into 1,200 neighborhood chapters in 110 cities. Over four decades, Acorn has turned its broad membership into a powerful lobbying tool. Its representatives are well-known in the marble halls of the Capitol, and press local, state and federal governments . . .

ACORN is the agency where Sen. Barack Obama worked as a trainer for the Association of Community Organizations for Reform (ACORN), whose affiliate, Project Vote, is known for voter fraud. It is this same organization from which a large part of the mortgage mess has grown. After Harvard Law School, Obama provided legal representation for ACORN. Obama sat on the boards of the philanthropic Woods Foundation and the Joyce Foundation which both funneled millions of dollars to ACORN.

In 2006, the Wall Street Journal addressed Acorn Indictments. In a recent article, additional complaints, indictments and arrests and conviction of ACORN members for voter fraud have been detailed for Colorado, Florida, Missouri, Ohio, Pennsylvania, Washington State, and Wisconsin. Democrats on Capitol Hill have steered billions of the taxpayer monies to risky ventures and to nonprofits organizations like ACORN, National Council of La Raza through the government’s Affordable Housing Fund and the Capital Magnet Fund. As a result groups like ACORN have developed powerful lobby groups to secure tax money for their organizations. Now the proposed "agreement in principle" for the $700 Billion "bailout" seeks to continue the protection of this process. In another article by James H. Walsh, a former federal prosecutor, it was noted that:

ACORN Housing Corporation (AHC) was instrumental in its passage of the Community Reinvestment Act (CRA) which has plagued the mortgage markets since 1977. The U.S. Congress through the CRA compelled banks and lending institutions to make loans to “communities of color” disregarding sound economic and risk guidelines. CRA encouraged the relaxing of “outdated” risk-management protocols and underwriting obligations by lending institutions. In the name of ending discrimination, no longer were “communities of color” required to provide verification of income, employment, credit history, ability to pay homeowner bills, or down payment. In response, many banks and mortgage groups bundled trillions of dollars of “subprime” loans and sold them to investors here and abroad. It is these bundled Community Reinvestment Act mortgages, doomed to fail, that are today causing financial strain in U.S. and global financial markets.

In short, a Democrat Congress and President demanded that banks change the rules of good banking and open the Pandora’s Box of mortgage defaults and foreclosures now coming to a head. This home-parity concept of the radical left was mobilized by ACORN resulting in a purchase of a property without any credit, income, employment, and a zero down payment.

In 2003, Fannie Mae home-parity funding in Chicago reached $600 billion. When Franklin Raines, former chair and CEO of Fannie Mae, stepped down in 2004 but managed to take with him a multimillion-dollar parachute and a monthly pension of $114, 393 for life, and should he die, for his wife’s lifetime. Until recently, Raines was an advisor to Obama.

Open Secrets reveals the investment made by Fannie Mae and Freddie Mac in Democrats and details the Top 25 Democrat Recipients of Fannie Mae and Freddie Mac contributions in 1989-2008. The top three in order were Senators Christopher Dodd, John Kerry and Barack Obama.

When government tries to fix social issues through the use of the taxpayers’ money, there are consequences. Now the American taxpayers are being called upon again to underwrite the problems exacerbated by the prior actions of former and the current Congress and past administrations. It is hoped that Senators and Representatives will avoid this massive "earmark." All "future profits" from the resolution and disposition of the alleged current bad mortgages ("bad paper"), should accrue to the American taxpayers as a whole and be returned to the Treasury. Any determination as to the use of "future profits" should be determined by those elected and representing the people at that future point in time. No agreements should include an obligation on the potential "future profits." No agreements should support questionable programs that support organizations that contributed to the failures of mortgages or to the bad lending practices promoted by prior Congresses and administrations.

Democrats Hidding Behind Bush

Bill Smith, Editor: Congressional Democrat leaders attending the DNC 2008 in Denver are attempting to transfer their failures to President Bush in an effort to distract voters by claiming their candidate is running against the Bush/McCain or McCain/Bush ticket. America is not stupid. Bush is retiring to Texas. And, Sen. John McCain as a maverick has never been part of the Bush team. It is true that Bush and McCain have conservative principles on which they agree. However, McCain as a maverick never placed party line first and often reached across the Senate isle to work with Democrats on critical issues. McCain has a leading democrat backing him and even the current identified Democratic vice president said positive things about McCain's qualifications to be president. Allegiances are shifting everywhere but with the Democratic leadership in Congress

While the candidates carry out their campaigns as they determine best, the Congressional Democrat leadership hides their failures behind George Bush. They are pursing a "con" job on the voters. They are working hard to sell their head-in-the-sand approach to energy policy to the American people. This may prove to be difficult with the divisions in their party who are deciding whether to continue following the inept Democrat leadership's refusal to produce more American energy. Some are tired of their leaders' ineptness and are considering joining with Republicans and sensible Democrats in support for policies like opening more areas to offshore drilling. ABC News reports that Rep. Neil Abercrombie (D-HI) is concerned that Democrats’ lack of action on a comprehensive energy solution could cost them politically. Abercrombie has joined with his GOP colleague Rep. John Peterson of Pennsylvania to urge a vote on an offshore drilling proposal.

Unfortunately, it doesn’t appear that House Speaker Nancy Pelosi is paying attention. Pelosi has not been bothered by these situations and has even advocated for Democrats with competitive races to lie and side with the Republicans because she can still stall and control things back in Congress. Though she’s been saying that drilling could be part of an energy package, she refuses to commit to a specific vote. Reuters reports, “She criticized President George W. Bush and other Republicans for presenting offshore drilling as an answer to the recent rise in U.S. gasoline prices, saying expanded drilling would not affect prices for a decade and then only by a small degree. ‘I don’t think that's a good alternative. But if they can prove that it is, and they want to pay royalties to the taxpayer ... then we have something to talk about’. . .”

Non-leader Pelosi would rather deal in distractions than grasp the laws of supply and demand. She says that drilling is not in her DNA. She would do well to read today’s New York Times, which discusses the recent rapid increase in American natural gas production. The Times writes, “Domestic natural gas prices have already plunged 42 percent since early July, an even faster drop in price than oil or most other commodities, in part because the rapid supply growth has begun to influence the market. Price spikes remain possible, of course, but throughout the industry the shale discoveries are causing a shift in thinking about the long-term outlook.”

Although doubtful, Democrats who understand how supply and demand work will be able to use their time in Denver to convince Nancy Pelosi and Harry Reid to that a “find more and use less” approach to energy is the best way to lower gas prices and provide more energy to America. Republicans have put forward a number of serious plans to do just that. It begs the question, when will the wiser more reasoned Democrats stop being lead by people who are disgracing their positions and hurting the American people? Also, noticeable is that five Democrat senators put themselves forward as qualified to be President of the United States and yet, not one of them would lead the effort to replace an inept Harry Reid. Pelosi and Reid, democrat agents of "no" change!

Voters Approval of Congress falls to 9%! Lowest Ever Rating!

ARRA News Service - Rasmussen Reports survey issued this morning shows voters giving the Democrat lead Congress with the lowest approval rating of any Congress in history.

Rasmussen Reports: The percentage of voters who give Congress good or excellent ratings has fallen to single digits for the first time in Rasmussen Reports tracking history. This month, just 9% say Congress is doing a good or excellent job. Most voters (52%) say Congress is doing a poor job, which ties the record high in that dubious category. . . . Congress has not received higher than a 15% approval rating since the beginning of 2008. . . . [Read More on Survey]

Speaker Nancy Pelosi and Senate Majority Leaders Harry Reid have achieved the most dismal record ever with their liberal agenda and failure to address critical National issues like rising gas prices, homeland security, and the mortgage scandles. Their efforts to prohibit American owned businesses from Drilling for Oil in our own country and their actions restricting electric power companies to the use higher cost natural gas verses using cheap available coal is driving energy costs and gas prices beyond acceptable levels for the American people. It has not gone unnoticed by the public that these leaders have supported trial lawyers over loyal Americans who obeyed the requests of the Federal government to protect America. The public notices the effort of the congressional leaders to promote the bailout of banks and mortgage companies who promoted bad lending practices while ignoring the homeowners who are losing their homes to these same institutions. If democrat senators and reprentatives are concerned about America and regaining the voters' confidence, they should immediately replace Reid and Pelosi as their leaders.