Pelosi: U.S. in 'Survival Mode'
In remarks just concluded, House Speaker Nancy Pelosi (D-Calif.) touted the need for a relief package to aid taxpayers, as opposed to the $700 billion bailout/rescue plan aimed at Wall Street.
"We're in a time when we need to tighten our belts," Pelosi said. "We need to take ourselves into survival mode."
A similar relief plan was passed by the House earlier this year but killed by the Senate ahead of a promised presidential veto.
The earlier relief bill included some $60 billion for new job creation; Pelosi said its reanimation would be similar in scope.
But Pelosi said that recent events have changed the landscape and made it more likely a relief package could pass.
Pelosi could have been referring to the last week's Worst Week Ever on Wall Street. Or she could have been referring to Sen. Barack Obama's (D-Ill.) 10-points-and-surging lead in the presidential race over Sen. John McCain (R-Ariz.), which could give the Democrats the Congress and the presidency.
-- Frank Ahrens
October 13, 2008; 1:01 PM ET
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