The Democratic National Committee is out with a new ad pushing the need to pass the president's financial regulatory reform plan by ominously warning that if Congress fails to act, the market meltdown that caused the current recession "could all happen again."
Titled "Not Again," the spot is a part of a broader campaign to lay the political foundation for the Senate to pass, within the next few weeks or months, its version of regulatory reform legislation. The script plays on economic fears that have spurred political unrest throughout the country, describing the past several years as: "Trillions in savings wiped out. Millions of jobs lost. Homes and businesses foreclosed on. Wall Street's risk and greed cost us trillions."
All of which gets at an interesting quandary facing the White House and Democrats in Congress: as the recession recedes and the economy improves, selling financial regulatory reform becomes all the more harder. Senior administration officials acknowledged this, which is partially why the White House has been floating the idea that legislation will be passed as early as this spring. The more time it takes, the harder it becomes.
"Tell Congress we can't afford another financial crisis," the DNC ad reads. "Pass President Obama's plan to hold Wall Street accountable... now."
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The ad will be going up on national cable starting on Tuesday, a DNC official tells the Huffington Post