DeMint: We'll Ban Earmarks Right Away
With their sweeping electoral victory in hand, Republicans are committed to ending earmarks - the local-project riders to legislation - and focusing on the big national issues, a top Senate Republican said Wednesday.
"We can't have 500 congressmen and senators who think it's their job to bring home the bacon - and that's what's going to change," South Carolina Sen. Jim DeMint told CBS' "The Early Show. "One of the first thing we'll do in the House and Senate is ban earmarks as Republicans - that'll get our eyes back on fixing our tax code, fixing social security and Medicare, getting America back to work."
DeMint called earmarks "that parochial interest I think gets that the focus of interest off national interests onto paving local parking lots." He said in an editorial Tuesday that the dozens of GOP congressional newcomers "can't be bribed if they're not for sale."
The conservative, Tea Party favorite DeMint was among the least surprising victors, easily dispatching his erratic challenger Alvin Green.
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"I'm excited about what's going to happen. It's going to be, particularly in the House, it's going to be even more exciting than 1994," he said.
DeMint praised Sarah Palin as a boon to both the GOP and the country. He said that he shared her position on the possibility of running for president - he would only do so if "no one else is willing to do it."
The lesson of Tuesday's results, DeMint said, is that "America's moving back towards a Constitutional limited government and the party that carries that mantle … will be in power for a long time."
Still, DeMint said, "This is really not so much about the Republican Party as it is the American people, who realized during this election cycle that they had a lot more power than they knew they had."
"I hope that's the legacy that comes out of this election and the Tea Party movement is that the power resides in the hands of the American people," he said, "and not in the elected officials in Washington."
More on the elections:
What's Next for the Tea Party?
GOP House Exactly What Obama Wanted to Avoid
PICTURES: The New Leaders of the House
Why Key Midwest Swing States Flipped to the GOP
Rhetoric About Balancing the Budget Must now Become Reality
Did the Tea Party Cost Republicans the Senate
Pictures: Election Winners and Losers
GOP House Win "Slap in the Face" for White House
John Boehner Breaks Down in Victory Speech
Arianna Huffington Wants Obama to Get Real
Google, YouTube Election Day Trends
Copyright 2010 CBS. All rights reserved. "We can't have 500 congressmen and senators who think it's their job to bring home the bacon - and that's what's going to change," South Carolina Sen. Jim DeMint told CBS' "The Early Show. "One of the first thing we'll do in the House and Senate is ban earmarks as Republicans - that'll get our eyes back on fixing our tax code, fixing social security and Medicare, getting America back to work."
DeMint called earmarks "that parochial interest I think gets that the focus of interest off national interests onto paving local parking lots." He said in an editorial Tuesday that the dozens of GOP congressional newcomers "can't be bribed if they're not for sale."
The conservative, Tea Party favorite DeMint was among the least surprising victors, easily dispatching his erratic challenger Alvin Green.
Full Senate Results
Full House Results
Full Governor Results
"I'm excited about what's going to happen. It's going to be, particularly in the House, it's going to be even more exciting than 1994," he said.
DeMint praised Sarah Palin as a boon to both the GOP and the country. He said that he shared her position on the possibility of running for president - he would only do so if "no one else is willing to do it."
The lesson of Tuesday's results, DeMint said, is that "America's moving back towards a Constitutional limited government and the party that carries that mantle … will be in power for a long time."
Still, DeMint said, "This is really not so much about the Republican Party as it is the American people, who realized during this election cycle that they had a lot more power than they knew they had."
"I hope that's the legacy that comes out of this election and the Tea Party movement is that the power resides in the hands of the American people," he said, "and not in the elected officials in Washington."
More on the elections:
What's Next for the Tea Party?
GOP House Exactly What Obama Wanted to Avoid
PICTURES: The New Leaders of the House
Why Key Midwest Swing States Flipped to the GOP
Rhetoric About Balancing the Budget Must now Become Reality
Did the Tea Party Cost Republicans the Senate
Pictures: Election Winners and Losers
GOP House Win "Slap in the Face" for White House
John Boehner Breaks Down in Victory Speech
Arianna Huffington Wants Obama to Get Real
Google, YouTube Election Day Trends
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Reminds me of what our previous Secretary Of The U.S. Treasury proclaimed on this matter. Busch administration agreed with his evaluation.
11/6/10Paulson admits deregulation has failed us all
By MarketWatch
WASHINGTON (MarketWatch) -- You know things are very very bad on Wall Street when a guy like Henry Paulson -- Treasury secretary, solid Republican, and former Goldman Sachs CEO -- joins the crowd calling for more regulation over the financial markets.
Paulson spared no one in his criticism Thursday of the excesses of deregulation that has now created the worst global financial crisis in a generation, threatening the health of the U.S. economy, the savings of millions of Americans, and the survival of some of the biggest financial institutions in the world. See full story.
Wall Street and Washington both failed big time, he said. Wall Street invented new ways to make money by selling securities so complicated that no one could really follow which shell the pea was under. Fortunes were made on the paper Wall Street sold.
At the same time, Washington's watchdogs were dozing, tranquilized by the false assurance that Wall Street would police its own.
It's been obvious for years now that Wall Street could not be trusted, and finally official Washington agrees. The markets need a tougher cop to make sure that money-center banks, investment banks, credit-rating agencies, hedge funds, mortgage brokers and the rest don't let their own greed and arrogance ruin it for the rest of us.
"Regulation needs to catch up with innovation," Paulson said, and he was backed up by the rest of President Bush's working group on financial markets, including Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commissioner Chris Cox. Not a commie among them.
The housing bubble wasn't a flaw; it was a predictable outcome of a system that rewarded smart people small fortunes for conjuring up ways to persuade people to borrow more than they could ever hope to pay back. All the profits were taken off the table quickly, but the staggering costs are only now being paid by homeowners, shareholders, builders and the rest of society.
Paulson's proposals won't necessarily prevent a recurrence, but they are a humble recognition that the centerpiece of two decades of Republican economic policy have failed.
-- Rex Nutting, Washington bureau chief
Republicans have not strayed from their previous agendas other than to increase the probabilities of failure. Since Nixon?s time to the present republicans have exemplified Imperialism agendas to the present with colonization strategies. Wars and recessions follows in their wake and now with Roberts Court ruling we are observing the next step they seek, into the realm of fascism. Now That Roberts has open the gates to corporations unlimited donations. Was it not Mussolini that defined fascism as the incorporation of corporations with the state? Now China, Japan, Iran, Russia are opening their wallets !! Discloser not required nor wanted by republicans. For sale, bid, bid. Now these urchins ask that you listen to their pied piper loony tuney tunes. Rubio now can tap into Arabia for additional $ ?lobby? monies.
One more small matter, that republicans will continue to pursue failed policies of their?s. Note ?pledge? of Boehner?s republic will add $4 trillion to national debt. Here we go again?
Reminds me of what our previous Secretary Of The U.S. Treasury proclaimed on this matter. Busch administration agreed with his evaluation.
11/6/10Paulson admits deregulation has failed us all
By MarketWatch
WASHINGTON (MarketWatch) -- You know things are very very bad on Wall Street when a guy like Henry Paulson -- Treasury secretary, solid Republican, and former Goldman Sachs CEO -- joins the crowd calling for more regulation over the financial markets.
Paulson spared no one in his criticism Thursday of the excesses of deregulation that has now created the worst global financial crisis in a generation, threatening the health of the U.S. economy, the savings of millions of Americans, and the survival of some of the biggest financial institutions in the world. See full story.
Wall Street and Washington both failed big time, he said. Wall Street invented new ways to make money by selling securities so complicated that no one could really follow which shell the pea was under. Fortunes were made on the paper Wall Street sold.
At the same time, Washington's watchdogs were dozing, tranquilized by the false assurance that Wall Street would police its own.
It's been obvious for years now that Wall Street could not be trusted, and finally official Washington agrees. The markets need a tougher cop to make sure that money-center banks, investment banks, credit-rating agencies, hedge funds, mortgage brokers and the rest don't let their own greed and arrogance ruin it for the rest of us.
"Regulation needs to catch up with innovation," Paulson said, and he was backed up by the rest of President Bush's working group on financial markets, including Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commissioner Chris Cox. Not a commie among them.
The housing bubble wasn't a flaw; it was a predictable outcome of a system that rewarded smart people small fortunes for conjuring up ways to persuade people to borrow more than they could ever hope to pay back. All the profits were taken off the table quickly, but the staggering costs are only now being paid by homeowners, shareholders, builders and the rest of society.
Paulson's proposals won't necessarily prevent a recurrence, but they are a humble recognition that the centerpiece of two decades of Republican economic policy have failed.
-- Rex Nutting, Washington bureau chief
Republicans have not strayed from their previous agendas other than to increase the probabilities of failure. Since Nixon?s time to the present republicans have exemplified Imperialism agendas to the present with colonization strategies. Wars and recessions follows in their wake and now with Roberts Court ruling we are observing the next step they seek, into the realm of fascism. Now That Roberts has open the gates to corporations unlimited donations. Was it not Mussolini that defined fascism as the incorporation of corporations with the state? Now China, Japan, Iran, Russia are opening their wallets !! Discloser not required nor wanted by republicans. For sale, bid, bid. Now these urchins ask that you listen to their pied piper loony tuney tunes. Rubio now can tap into Arabia for additional $ ?lobby? monies.
One more small matter, that republicans will continue to pursue failed policies of their?s. Note ?pledge? of Boehner?s republic will add $4 trillion to national debt. Here we go again?