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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Broken_Clock who wrote (64866)	3/28/2007 4:02:04 PM
From: mishedlo	Read Replies (1) of 116555

Senate Democrats defy veto threat, keep Iraq timeline Despite repeated threats from President Bush to veto any bill setting a timeline for a U.S. troop withdrawal from Iraq, the Democratic-controlled Senate on Tuesday for the first time signaled support for legislation calling for most troops to come home within a year. The Democrats, in a 50-48 vote largely along party lines, thwarted a Republican attempt to erase a U.S. withdrawal date attached to the proposed spending bill for the wars in Iraq and Afghanistan. The move paves the way for a proposal that directs the president to begin the withdrawal of U.S. forces from Iraq within 120 days of its enactment. It also sets the non-binding goal of having only a limited number of U.S. troops in Iraq by March 31, 2008. The legislation is expected to be voted on as early as Wednesday. If it passes, as expected, both chambers of Congress would be on record calling on the Bush administration to wind down the war in Iraq by next year. GOP help needed The Democrats, while holding a narrow majority in the Senate, needed the help of maverick Sen. Chuck Hagel (R-Neb.) to overcome votes by Sens. Mark Pryor (D-Ark) and Sen. Joseph Lieberman (D-Conn.), who voted with the Republicans to remove the troop withdrawal language from the bill. The withdrawal language is tied to a $122 billion spending bill to fund the two wars. With the president's threat to veto the measure, the Democratic leadership and White House could find themselves in politically vulnerable positions because Defense Secretary Robert Gates has warned that current funding for the Iraq war will dry up in a matter of weeks. .... chicagotribune.com

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