(Community Matters) Robert Shrum in The Week.
With unemployment down from peak levels and job losses ebbing, with housing prices stabilized and other indicators pointing up, the Standard & Poor’s stock index has soared nearly 70 percent since its March 2009 lows—and nearly 40 percent since Obama took office with an economy teetering on the brink of depression. This remarkable rise anticipates as many as hundreds of thousands of jobs, which forecasters are now predicting not for next year but for this month.
Reconciliation, the recondite budget procedure that has become as familiar in this debate as it was frequent under Reagan, Clinton, and both Bushes, probably would be impossible without the “wasted” months last summer during which the awkward and earnest Democratic Sen. Max Baucus negotiated with his Republican opposite, the fallow Sen. Charles Grassley. Now Senate Democrats seem all but united in their resolve to use reconciliation. Louisiana’s Mary Landrieu, who’s unequivocal “this bill is going to pass” should stiffen the spines of fellow moderates.

