Remember when shortly after the avalanche victory of the GOP in both the House and the Senate the pundits said that with the lame duck president in his final stretch, now is the time when long-overdue legislation would finally get passed? They were wrong.
- OBAMA NOTIFIES U.S. SENATE OF VETO OF KEYSTONE PIPELINE APPROVAL BILL
- OBAMA VETOES REPUBLICAN ATTEMPT TO FORCE KEYSTONE APPROVAL
The full Obama letter:
[4]
The Republican reaction:
- U.S. SENATE MAJORITY LEADER MITCH MCCONNELL SAYS CHAMBER WILL CONSIDER OVERRIDE OF KEYSTONE PIPELINE VETO NO LATER THAN MARCH 3.
- BOEHNER SAYS OBAMA KEYSTONE VETO IS `NATIONAL EMBARASSMENT'
As Bloomberg adds, Obama’s action sets up new round of votes in Congress that will likely fail as supporters don’t have enough backing to override veto. As a reminder, the Senate vote was 62-36, while House vote was 270-152; with a two-thirds majority required to override veto.
Of course, when the Fed gives a greenlight to keep pumping up the "wealth effect" and make the rich - the same people who contro Congress anyway - richer, who actually needs any laws getting passed? Indeed, in the immortal words of Chuck Schumer, when the Mr. Chairmanwoman is "getting to work", Congress is merely ornamental.