AP News reports: President Barack Obama wants Republicans to return to Congress this week from their spring recess with a more constructive attitude toward health care, energy and other administration initiatives. GOP lawmakers say they have ideas, just not the ones the president may want.
“When you’re the party of no, when you’re the party of never, when you’re the party of no new ideas, that’s not constructive,” White House chief of staff Rahm Emanuel said Sunday. “The challenge will be, will the Republicans come to the table with constructive ideas?”
Democrats and Republicans also differ on how to crack down on abuses by credit-card companies.
Just before the break the Senate Banking, Housing and Urban Affairs Committee approved limiting the reasons card issuers could raise interest rates and fees on consumers. Instead of such limits, Republicans favor prosecuting predatory lenders and requiring issuers to more fully disclose agreements in language that consumers can easily understand.
White House economic adviser Larry Summers said that putting a stop to the marketing of credit cards in ways that “addicts” people to them will help Americans save more of their money.
Obama is “going to be very focused, in a very near term, on a whole set of issues having to do with credit card abuses, having to do with the way people have been deceived into paying extraordinarily high rates that they wouldn’t have paid if they knew what they were getting themselves into,” Summers said.
Emanuel and Boehner appeared on ABC’s “This Week” while Axelrod spoke on CBS’ “Face the Nation.” Summers’ interview was with NBC’s “Meet the Press.”
Will they also focus on credit card issuers that drastically reduce the consumers’ credit limits when they pay down their bills–without telling them? They only find out the next time they try to use their card and get declined!!!