One of the most important pieces of legislation to reach Barack Obama’s desk–the $1.1 trillion Continuing Resolution legislation that would cover the government budget through September 30, 2015, and allow Congress to leave, and would avoid a government shutdown—should be vetoed by President Obama!
This is a bold move, to ask Obama to veto the bill, but it has many problems, including allowing the big banks, led by Citigroup, to avoid responsibility for another collapse of the banking system, which seems more and more likely, and would have taxpayers save the banks once again, adding to the national debt! This would be possible by the repeal of the Dodd-Frank legislation that prevents future such disaster! Senator Elizabeth Warren has made national news by her denunciation of this action on the Senate floor.
Additionally, allowing wealthy people to give ten times what they can now contribute to political campaigns is a further extension of the Citizens United Case, in which the Supreme Court has allowed millionaires and billionaires to engage in the “buying” of elections, through unlimited spending!
Also, pension protection for public and private pensions would no longer be guaranteed, causing disaster for millions of workers who would no longer be assured of the protection of their hard earned pensions when they retire, or even for those who have retired.
Additionally, nutrition standards set by Michelle Obama would be relaxed; and DC would not be able to allow marijuana use, losing control over its own jurisdiction by interference of Congress, despite the vote of the population in November’s election.
24 Republicans and 16 Democrats voted against this bill, including most of the progressive wing of the Democratic Party, and it should be vetoed by Obama, on the basis of too much lost and too little gained.
It is time for Obama to show aggressiveness, as what does he have to lose now?