In it, but not of it. TPM DC

G-20 Leaders Reaching Outlines Of Agreement On IMF, Regulations The G-20 leaders have reportedly agreed to give more than $500 billion to the IMF, in order to help governments struggling because of the financial crisis, along with stronger financial regulations to avoid another crisis in the future, though details remain to be hammered out. "I'm not saying that everything is sewn up. It isn't," said UK Business Minister Peter Mandelson. "I mean there are arguments, or some tensions over precisely what resources we're talking about."

Obama's Day Ahead: The G-20 Summit In London President Obama met with South Korean leaders in London at 3 a.m. ET this morning. At 3:30 a.m. ET, he attended the G-20 leaders breakfast. At 4:50 a.m. ET, he attended the G-20 summit's opening plenary session. At 8:25 a.m. ET he attended the G-20 leaders lunch. At 9:30 a.m. ET he will attend the afternoon plenary session. At 10:35 a.m. ET he will meet with leaders of Saudi Arabia, and at 11:30 a.m. ET he will meet with leaders of India. At 12:45 p.m. ET, he will hold a news conference.

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Via Brad Plumer of The New Republic comes this article from the St. Petersburg Times throwing some cold water on the Republican party's allegation that the Democrats are planning to institute a "light-switch tax" that would cost every American household $3,128 annually. The punchline is this: The Times got in touch with John Reilly, one of the authors of the study the GOP cited as the source of that number, and he said, "It's wrong in so many ways it's hard to begin."

As we noted earlier, "light-switch tax" is a tendentious renaming (or misnaming) of "cap-and-trade legislation", which would price and reduce greenhouse gas emissions. But where did the GOP come up with that price tag?

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It was probably never gonna happen, but now it's official. Climate change legislation will not be passed through the budget reconciliation process. The Johanns amendment, which explicitly prevents such a move, just passed on a 67-31 vote. We'll get you a roll call when it's available, including the names of the significant number of Democrats who voted with the GOP. Expect to find the usual suspects on that list. And more!

Late update: I should note that the budget resolution isn't law and this amendment applies to this budget resolution and this budget resolution only. You shouldn't draw too many conclusions from that, of course, but it's probably important to note, amidst all of this arcana, that the Senate hasn't foreclosed on the option for all budgets in the future.

As President Obama embarks on his overseas trip to the G-20 summit, a new Gallup poll finds that his approval on foreign affairs is a solid 61%.

One interesting thing is that this number is actually higher than the 54% approval in foreign affairs that Obama registered a month and a half ago, contrary to the usual expectation that these figures would go down as the honeymoon period wore off.

On the other hand, disapproval has also increased, from 22% to 28%. The movement here was not been from approval to disapproval or undecided, but from undecided to approval or disapproval, as Obama has just begun actually doing things in foreign policy.

Here's yet another example of a politician tying himself to President Obama: Here at the TPM office in New York City, I just got a robocall from Bloomberg for Mayor, letting me know that Mayor Mike supports the Obama health care plan.

The call was read by a man with a working-class New York accent, letting me know how well Bloomberg and Obama get along: "Like President Obama, Mayor Bloomberg knows it's time to put politics aside, so we can work together on health care now." (The quote may be off by a word or two as I jotted it down quickly, but you get the idea.)

Bloomberg is of course running for re-election this year in a heavily Democratic city, during a time of Democratic resurgence, but he himself is not a Democrat. He was elected twice as a Republican, and became an independent in 2007.

John McCain is taking a page from House Republicans and, in about an hour, will be introducing an alternative budget of his own. It's a move that might just rankle Judd Gregg--who, as chairman of the Budget Committee, and the guy who would normally make these decisions, opted not to go that route.

We should have more details once it comes to the floor, but in the mean time, recall that during his presidential campaign, McCain called for a one year non-military discretionary spending freeze. That's in contrast to the House GOP budget which calls for a five year freeze. Economic conditions in the country have gotten worse since the November election, though, and Republican cries for spending cuts have grown louder, so it's possible that he's has doubled down or more on this idea.

The DNC has now put out their memo/press release analyzing the NY-20 special election: "Murphy's lead following yesterday's balloting shows that the Republican Party has no new ideas, is tied to the failed policies of the past and that it is in disarray and faces an uphill battle in local and state elections in 2009 and 2010."

The DNC also declares it a win for Obama: "This race became a referendum on President Obama and his leadership of the country and handling of the economy. Murphy's showing in an overwhelmingly Republican district is affirmation of the direction the President is leading the country."

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Yesterday, we reported on the unveiling of new House climate change legislation co-authored by Henry Waxman, and Ed Markey. Since then, a bit more info's trickled in, particularly from the Senate.

Sen. Richard Durbin (D-IL) told the Washington Post "we don't have 60 votes"--that's no surprise, but it's also an important statement by the Democratic whip, at a time when the party is grappling with the question of budget reconciliation.

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Appearing on Fox News radio with Brian Kilmeade, Norm Coleman himself confirmed that he'll be appealing his case -- which his legal spokesman had announced yesterday, after the election court handed down a ruling that seriously damaged his efforts to get his campaign's list of previously-rejected absentee ballots put into the count:

Some fun quotes, after the jump.

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Here's a quick roundup of some news from the NY-20 special election:

• As the standard process of proofreading the vote spreadsheets has been conducted, Democrat Scott Murphy's lead over Republican Jim Tedisco has actually shrunk from 65 votes to 25 in the latest AP numbers. These sorts of human errors are commonplace, and are usually very small and break about equally -- but in a race this close, they can be consequential.

• The Washington Post reports that Democrats have privately predicted a Murphy win by 210 votes, when all the absentee ballots are counted. This is based on making projections for the home counties of the absentees, from the percentages for each candidate in the Election Day tally. But here's a counter-example: when some previously-rejected absentee ballots in Minnesota were opened up and counted this past January 3, Al Franken ended up doing far better than geography alone would have predicted. It really does come down to which side had the better absentee ballot operation.

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