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Obama Wars Title: White House Stands by Bernanke Amid Democratic Opposition White House Stands by Bernanke Amid Democratic Opposition FOXNews.com The White House is standing by Ben Bernanke, saying President Obama is confident he will be confirmed for a second term as Federal Reserve chairman despite emerging opposition. Federal Reserve Chairman Ben Bernanke speaks during a presentation at the American Economic Association conference in Atlanta Jan. 3. (Reuters Photo) The White House is standing by Federal Reserve Chairman Ben Bernanke, saying President Obama is confident he will be confirmed for a second term despite emerging opposition from his own party. Spokesman Bill Burton said Friday that Obama believes Bernanke, whose current term as chairman expires at the end of January, is the right person for the job. The affirmation comes as a number of Democrats peel off and say they plan to vote against Bernanke. Between 10 and 15 Senate Democrats are thought to be opposed to Bernanke's confirmation, according to Senate aides. A Senate confirmation vote has been pushed off until next week at the earliest. Aides said they still think Bernanke will squeak by, but acknowledge that could change. Democrats' loss in the Tuesday Senate special election in Massachusetts has given Democrats the jitters. "When politics and monetary policy collide, it is just not pretty," one Senate Democratic aide said. Though sources say Senate Majority Leader Harry Reid has indicated to colleagues he intends to vote against Bernanke, spokesman Jim Manley said Reid "has not made up his mind" and wants to hear more from the chairman. Bernanke met with Reid Thursday as Democratic and Republican leaders surveyed senators to tally votes on the nomination. Bernanke needs 60 supporters to win approval for another four-year term. "A few Democrats have publicly said they won't vote for Mr. Bernanke's appointment, so you need Republican support," said Senate Majority Whip Richard Durbin, D-Ill. Democratic Sens. Byron Dorgan of North Dakota and Jeff Merkley of Oregon are among those who say they plan to vote against the nomination. Sen. Bernie Sanders, a Vermont independent who votes with Democrats, has led the charge from the left against Mr. Bernanke and also plans a "no" vote. In an interview, Sanders said other Democratic senators-who haven't indicated their intent publicly-also planned to vote against the nomination to signal displeasure with the Fed's handling of the financial crisis and Wall Street. "You're beginning to see, maybe this vote is kind of symbolic of one's attitude toward Wall Street, and whether or not we're going to stand up to them and move it in a new direction with new leadership, or whether we keep up the same old same old," Sanders said. Fox News' Trish Turner and The Wall Street Journal contributed to this report.
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See Corzine, Coakley....(chuckle)
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