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Delay hits hopes for Obama rescue plan
Financial Times ^ | January 4, 2009 | Edward Luce

Posted on 01/04/2009 2:39:17 PM PST by St. Louis Conservative

Barack Obama on Sunday was dealt his first serious setback since the election when his choice for commerce secretary withdrew from nomination, as congressional leaders warned that an emergency $775bn fiscal stimulus package was unlikely to be passed before the presidential inauguration.

Bill Richardson, the governor of New Mexico and the only new member of Mr Obama’s cabinet with previous cabinet experience, said he was stepping aside because of a pending investigation of a company that had done business with in New Mexico.

“Let me say unequivocally that I and my administration have acted properly in all matters and that this investigation will bear out that fact,” said Mr Richardson. “But I have concluded that the ongoing investigation also would have forced an untenable delay in the confirmation process,” he said, in a statement released on Sunday by the Obama transition team.

US secretaries of commerce oversee trade and industrial policy, although important parts of economic policy are the responsibility of the Treasury and Labor secretaries and the US trade representative.

Mr Richardson’s withdrawal came as leaders from both parties warned that a planned stimulus bill, to revive the contracting US economy and whose cost could climb as high as $1,000bn, would be unlikely to reach Mr Obama’s desk before early February.

Steny Hoyer, the Democratic majority leader in the House of Representatives, told Fox News that it would probably only reach Mr Obama by the President’s Day recess in early February. Mitch McConnell, the Republican minority leader in the Senate, told ABC News that “to have it on his desk by January 20 – that’s just not a practical thing”.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Miscellaneous; News/Current Events; Philosophy
KEYWORDS: 111th; agenda; barackthekenyan; bhoeconomy; bhostimulus; billrichardson; corruptdmeocrats; democratcorruption; economy; obama; obamacorruption; stimulus

1 posted on 01/04/2009 2:39:18 PM PST by St. Louis Conservative
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To: St. Louis Conservative

excuses already and he hasn’t taken office yet.


2 posted on 01/04/2009 2:41:20 PM PST by mware (F-R-E-E, that spells free. Free Republic.com baby.)
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To: St. Louis Conservative
“Let me say unequivocally that I and my administration have acted properly in all matters ..."

Let me say unequivocally, that you, Sir, are an idiot. If you insist on preaching your innocence, at least use proper grammar.

3 posted on 01/04/2009 2:46:32 PM PST by kdot
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To: St. Louis Conservative

Keep on lowering those expectations, MSM. 0bama should be able to glide right through the next four years while doing absolutely nothing, and when something DOES happen, he’ll have you to pull his bacon out of the fire.

Popcorn, Please! :)


4 posted on 01/04/2009 2:48:32 PM PST by Diana in Wisconsin ('Taking the moderate path of appeasement leads to abysmal defeat.' - Rush on 11/05/08)
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To: kdot

And the grammar error in that fragment is . . .


5 posted on 01/04/2009 3:02:27 PM PST by StAntKnee (I guess I can TRY to cocoon for four years. Can't I?)
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To: kdot; All
“Let me say unequivocally that I and my administration have acted properly in all matters ...”


...and I'll have an internal investigation to show it....:^)

6 posted on 01/04/2009 3:06:21 PM PST by az_gila (AZ - need less democrats - one Governor down... more to go.)
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To: St. Louis Conservative

James Carvell has predicted an unprecedented domino effect in the DNC with corruption charges. I was stunned. And then this happened.


7 posted on 01/04/2009 3:12:22 PM PST by sarasota
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To: StAntKnee

“... I and my administration ...”

How about, “ ... my administration and I ...”.


8 posted on 01/04/2009 3:16:45 PM PST by kdot
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To: sarasota

He did? Link please so that I may enjoy Ol’ Serpent Head’s predictions.


9 posted on 01/04/2009 3:18:45 PM PST by Army Air Corps (Four fried chickens and a coke)
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To: kdot

“... I and my administration ...”

How about, “ ... my administration and I ...”.

Um perhaps a distinction without a difference . . . UNLESS . . .

Richardson put himself first because, as leader, he was taking responsibility for being innocent.

I think it was just fine. But then, I like puh-TAH-toes, too.

G’day, mate.


10 posted on 01/04/2009 3:20:18 PM PST by StAntKnee (I guess I can TRY to cocoon for four years. Can't I?)
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To: Army Air Corps
Link
11 posted on 01/04/2009 3:33:17 PM PST by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: VRWC For Truth

Thanks!


12 posted on 01/04/2009 3:38:14 PM PST by Army Air Corps (Four fried chickens and a coke)
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To: St. Louis Conservative
Failed Presidency of Barack Hussein Obama.
13 posted on 01/04/2009 4:04:54 PM PST by BenLurkin
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To: St. Louis Conservative

“I may be a greasy ‘RAT...but I’m not a crook!”


14 posted on 01/04/2009 4:06:20 PM PST by twister881
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To: Army Air Corps

I heard it on one of the cable news shows and Carvelle was being quoted. Can’t remember where or when. :( Note to self: make notes when something so unexpected takes place.)


15 posted on 01/04/2009 4:28:27 PM PST by sarasota
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To: Army Air Corps

Found a link on post #150.


16 posted on 01/04/2009 4:43:00 PM PST by sarasota
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To: Army Air Corps

That would be #150 on the Richardson thread.


17 posted on 01/04/2009 4:44:21 PM PST by sarasota
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