First, the Environmental Protection Agency is about to do something that was unthinkable in the Bush Administration - actually protect the environment!
The Obama administration will formally declare Monday that carbon dioxide and other greenhouse gas emissions pose a danger to the public's health and welfare, a move that lays the groundwork for an economy-wide carbon cap even if Congress fails to enact climate legislation, sources familiar with the process said.Finally, at long last, the law will actually be enforced, as will a Supreme Court ruling. I know, it's shocking after 8 years of lawlessness and an arrogant "I am the government" attitude. Once again, the expression "elections have consequences" leaps to mind.
[...]
The endangerment finding stems from a 2007 Supreme Court decision in which the court ordered the EPA to determine whether greenhouse gases qualify as a pollutant under the Clean Air Act. It could trigger a series of federal regulations affecting polluters, from vehicles to coal-fired power plants.
Second, the New York Times reports that the "Treasury Department expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit." As a Daily Kos diary points out, this is "a vastly different storyline than the one understood by detractors on both the right and the left...Most people I know had written that money off, and weren't aware of the fact that it was all going to be repaid, or that it could happen relatively quickly." So much for all that populist anger, mainly on the right, about the Wall Street bailout? My gut feeling is that the anger won't go away completely or quickly, but that if this new storyline holds up (and if Democrats trumpet it AND if the economy continues it recovery), it could significantly shift the storyline - including dire forecasts from a Democratic perspective - for next November's elections. Stay tuned.
Third, we have possibly the best news of all, "the Obama adminstration is going to announce tomorrow during Obama's speech on jobs creation that he is going to ask Congress to use $200 billion from TARP for a jobs bill!" Reportedly, the money will be "broken down to infrastructure jobs, small business loans, etc." That's just what the doctor - Dr. Krugman and others, that is - ordered.
The first item on this list could be a huge winner economically and environmentally (it doesn't have to be a negative politically if it's explained adequately), while the second two items could be huge winners both economically and politically. The fact is, as much as the "doom and gloom" crowd want to talk down President Obama and the Democratic Congress, it's now quite possible that we could head into 2010 with the following major accomplishments by Democrats: 1) the economy rebounding (and as many as 1.6 million jobs saved or created) thanks in large part to the economic recovery act (passed with basically zero support from the "Party of No"); 2) health care reform legislation signed into law; 3) TARP money largely returned and heading straight to "Main Street;" and 4) major action to revamp our energy economy, create "green jobs," and deal with the dire threat of global warming. Not too shabby for 1 year in office, eh?
