–Vice President: Admin Trying To Respond To Econ ‘Perfect Storm’
–VP Biden: U.S. Trying To Emerge From ‘God Awful Mess’
–Senate Majority Leader Reid: Senate Will Vote On $35B Plan This Week

By John Shaw

WASHINGTON (MNI) – Vice President Joe Biden traveled to Capitol
Hill Wednesday to implore Congress to approve President Obama’s $447
billion jobs package “piece by piece.”

Speaking to an energetic rally of teachers and law enforcement
officials in the Senate Caucus Room, Biden said the administration is
trying to help the U.S. emerge from a “god awful mess.”

“There has been a perfect storm out there,” Biden said, as he
traced the financial crisis, the collapse of the housing industry and
the overall decline of the American economy.

Biden urged Senate Republicans to “think hard” about their
opposition to a $35 billion package that would allow states and local
governments to avoid lay offs for teachers and first responders.

Biden said the funds would help prevent up to 400,000 layoffs among
teachers and first responders across the nation.

He added that the package would be funded by a 0.5% surtax on
household income above $1 million. This is a scaled-back version of the
5.6% surtax that Democrats proposed earlier to pay for Obama’s $447
billion jobs plan that was rejected last week.

“These guys won’t even allow us to debate it,” Biden said,
referring to the Senate GOP vote to block formal debate on Obama’s jobs
bill.

Biden said it’s critical to “do something now” to bolster the
economy.

Speaking after Biden, Senate Majority Leader Harry Reid said he is
determined that the Senate will vote soon on the $35 billion package.

“We are going to make sure there is a vote on our bill this week,”
Reid said.

“This is important,” he added.

Reid blasted Senate Republicans for being out of step with even
mainstream Republicans.

“They don’t represent America. They don’t even represent
Republicans,” Reid said.

Earlier in the day, Senate Minority Leader Mitch McConnell
ridiculed the $35 billion package, calling it a “bailout” for states
that have failed to manage their finances.

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

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