How Likely is a Bernanke Confirmation? [Daniel Foster]
Until recently, I would have thought quite likely. Now I'm not so sure, as opposition on both sides of the aisle mounts.
Sen. Bernie Sanders (I-Ver.), Bernanke's nemesis, has a hold on his nomination — as do Sens. Bunning (R., Ky), DeMint (R., S.C.), and Vitter (R., La.) — which means Bernanke will need 60 votes to break procedural deadlock. And with little more than a week before his term as Fed Chair expires, majority leader Harry Reid (D., Nev.) has yet to schedule a vote.
Senators Byron Dorgan (D., N.D.) and Jeff Merkley (D., Ore.) have previously indicated they will vote against reconfirmation (Merkley did so when it came before the Senate Banking Committee in December). And today, Sen. Russ Feingold (D., Wisc.) and Sen. Barbara Boxer (D., Calif.) both added their names to the "no" roll.
Sen. Sheldon Whitehouse (D., R.I.) and Sen. Jim Inhofe (R., Okla.), by one measure the most liberal and the fourth most conservative Senators, respectively, are currently a "leaning no" and a "no."
Sen. Richard Shelby (R., Ala.) is a no. Sen. Claire McCaskill (D., Mo.) is wishy-washy. Perhaps worst of all, Politico's Martin Kady is reporting that Reid himself is undecided, while the minority's offices across the aisle are "no-commenting" questions about whether they'll "whip" votes on the chairman's future.
For what it's worth, the White House remains confident Bernanke will be re-confirmed, and Inhofe has said he doesn't think there is enough opposition to block him.
But that appears to be less certain every minute.
The Corner on National Review Online (22 January 2010)
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