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Obama Vetoes Keystone Pipeline Bill

Remember when shortly after the avalanche victory of the GOP in both the House and the Senate, the pundits saying that with the lame duck president in his final stretch, that now is the time when legislation would finally get done? They were wrong.

  • OBAMA NOTIFIES U.S. SENATE OF VETO OF KEYSTONE PIPELINE APPROVAL BILL
  • OBAMA VETOES REPUBLICAN ATTEMPT TO FORCE KEYSTONE APPROVAL
  • SENATE GOT VETO MESSAGE FROM OBAMA ON KEYSTONE

As Bloomberg adds, Obama’s action sets up new round of votes in Congress that will likely fail as supporters don’t have enough backing to override veto. As a reminder, the Senate vote was 62-36, while House vote was 270-152; with a two-thirds majority required to override veto.

Of course, when the Fed gives a greenlight to keep pumping up the wealth effect and make the rich richer, who actually needs any laws getting passed. Indeed, in the immortal words of Chuck Schumer, when the Mr. Chairmanwoman is "getting to work", Congress is no longer even relevant.