–House Speaker Says Dems Can Find ‘Other Ways’ To Move Spending Bills
–Rep. Pelosi: Vows ‘Slew of Bills’ To Boost Jobs
–Hoping For ‘Bipartisan Bill To Regulate Wall Street

By John Shaw

WASHINGTON (MNI) – House Speaker Nancy Pelosi signalled clearly
Thursday that Democrats will not try to pass a five year fiscal
blueprint this year, saying there are “several other ways to meet our
responsibilities” regarding the budget.

At a briefing, Pelosi avoided two direction questions on her
intentions about passing a fiscal year 2011 budget resolution.

But her evasions signalled clearly that she is looking for a
different process to allow Congress to eventually pass the 12 annual
spending bills that fund the discretionary portion of the federal
budget.

Of the $3.8 trillion federal budget, more than $1 trillion is in
the discretionary portion of the budget which is allocated in the 12
annual spending bills.

Budget law requires that Congress pass a budget outline each year
by April 15 with spending and revenue goals and which makes deficit
estimates.

But Congress is usually late in passing its budget resolution and
in recent years has often decided not to pass a budget outline at all.

Instead, Congress can pass a resolution that “deems” the budget is
passed, setting a ceiling on discretionary spending to allow work to
advance on the 12 spending bills.

When Republicans controlled Congress and failed to pass budget
resolutions, Democrats scorched them for failing to fulfill one of their
primary responsibilities — setting overall fiscal goals.

“We had a budget last year,” Pelosi said, adding that this year’s
health care debate extended well into the year.

The Senate Budget Committee passed a Democratic plan several weeks
ago, but there are no indications the House will take up a budget
resolution or the Senate Democratic leadership will bring their plan to
the floor of the Senate.

While the Senate Democratic plan envisions lower deficits than
those in President Obama’s budget, the budget still leaves the nation
with massive deficits and a mountain of debt.

Most Democrats in Congress are not eager to vote for such a budget
that might be difficult to defend in an election year.

On other matters, Pelosi said Democrats will continue to work on a
“slew of bills” that spur job creation.

“It’s all about job creation,” she said.

Pelosi also said that House Democrats are eager for the Senate to
pass a financial regulatory reform bill, so that the two chambers can
begin work to craft a final compromise. The House passed a regulatory
reform bill in December.

** Market News International Washington Bureau: (202) 371-2121 **

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