It's politics as usual in Washington today - but it could turn out to be a dismal weekend for President Obama. He wants legislators to pass the far-reaching financial regulatory overhaul bill before they leave for their week-long July 4 recess.
With the death of 92-year-old Sen. Robert Byrd on Monday, the Democrats are one vote short of the 60 votes needed to crush an expected Republican filibuster.
I say the bill won't make the deadline for several sound reasons.
One, the last-minute tack-on by Democrats of $19 billion to charge lending institutions for the cost of the legislation, won't fly - and it shouldn't.
Two, Massachusetts Sen. Scott Brown, only one of two Republicans who might have voted with the Democrats, is changing his mind because of the tack-on.
Three, Maine Senator Susan Collins, the other Republican who was considering voting for the reform package, is having second thoughts.
Four, Democrat Senators Maria Cantwell of Washington State and Russ Feingold of Wisconsin, say the bill isn't tough enough on Wall Street. They won't back the bill.
I say they're right. The bill should return to the negotiating table. President Obama ought to take a second breath and enjoy the July 4 weekend.
What do you think?
