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December 2nd, 2008
03:43 PM ET

Importance of 60-seat Senate majority for Democrats?

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(PHOTO CREDIT: GETTY IMAGES)

FROM CNN's Jack Cafferty:

A run-off is underway today in the U.S. Senate race in Georgia between Republican incumbent Saxby Chambliss and Democratic challenger Jim Martin. Poll watchers say the race will come down to voter turnout which is probably why Alaska governor and former Vice Presidential candidate Sarah Palin flew down to campaign for Chambliss yesterday. That and to get her picture taken some more. She apparently hasn't lost her touch. She drew huge crowds.

The Georgia race is one of two unresolved Senate races. Democrats need to win both to get a filibuster-proof 60-seat majority. The other undecided race is in Minnesota where a recount is underway between Republican Senator Norm Coleman and Democrat Al Franken. Don't hold your breath for that one. The recount is expected to take weeks.

If the Democrats manage to win both races, they will have the trifecta: A filibuster-proof majority in the Senate, a commanding majority in the House, and of course, the White House.

Here’s my question to you: How important is a 60-seat Senate majority for the Democrats?

Interested to know which ones made it on air?

FULL POST


Filed under: US Congress
December 2nd, 2008
03:14 PM ET

Democrats: Party of Big Business?

 Click the play button to see what Jack and our viewers had to say.

Click the play button to see what Jack and our viewers had to say.

FROM CNN's Jack Cafferty:

The Republican Party has long been the party of small government and free markets backed by big business. But that may be changing.

Incoming Democratic President Barack Obama is bringing in some big guns to oversee economic policy and has talked about a second stimulus package and a bailout of the auto companies as top priorities next month. And big corporations like what they're hearing. So much so that Peter Canellos, The Boston Globe's Washington Bureau Chief, suggests “big business” is shifting its loyalty to the Democratic Party.

Watch: Cafferty: Dems & big business?

The writing's been on the wall for quite some time. The Democrats out-raised Republicans in the 2008 elections. The financial sector alone donated more money to the Democrats, $65 million compared to the $59 million it gave Republicans. Big banks have long been supporters of the GOP.

So why the shift? Canellos points to the Southern evangelicals who he says have dominated the Republican Party and in the process driven away some very big contributors. Corporate executives who have big bucks but different beliefs have begun to migrate to the Democratic Party despite the threat of higher taxes.

And because many Republicans opposed the $700 billion bailout package passed in October as well as a rescue plan for the automakers, it looks like the GOP isn't going to win “big business” back anytime soon.

Here’s my question to you: What does it mean that the Democratic Party is becoming the party of Big Business?

Interested to know which ones made it on air?

FULL POST


Filed under: Democrats
December 2nd, 2008
01:28 PM ET

How has economic crisis affected Christmas shopping plans?

Sales for Friday and Saturday were up about 2 percent from a year ago.

Sales for Friday and Saturday were up about 2 percent from a year ago.

FROM CNN's Jack Cafferty:

The nation's retailers got a bit of boost on Black Friday. Sales for Friday and Saturday were actually up about 2 percent from a year ago, according to research firm ShopperTrak. But the Christmas shopping season has a ways to go, and the jury is still out on whether the beleaguered consumer has enough left in his jeans to make the season a success.

Federal Reserve Chief Ben Bernanke says the bad times will be around for awhile. The Dow plunged 680 points yesterday on the news that the U.S. economy is officially in a recession and has been for a year. Manufacturing has dropped to a 26-year low. The fate of U.S. auto industry remains uncertain. Unemployment stands at 6-point-8 percent. And news of layoffs continued today in both the private and public sector. Washington Mutual is planning to cut 9,200 jobs. The City of Atlanta announced today it's laying off 222.

There's not a lot out there to put you in the holiday spending mood.

Here’s my question to you: How has the economic crisis affected your Christmas shopping plans?

Interested to know which ones made it on air?

FULL POST


Filed under: US Economy