Remove Republican Saboteurs from Congress

“There are three major sources of uncertainty and potential drag for the American economy right now. Europe is the big one. But right next to it is housing. And then there's Congress, which threatens, as it so often does, to Congress everything up, perhaps by failing to come to an agreement on the payroll tax.

On Thursday, two out of these three got a little more certain. The political leadership in Greece agreed to a deal that would clear the way for a $170 billion bailout. The deal isn't done, as the European leaders are requiring it to be approved by the Greek parliament, too. But it's a lot closer to getting done.

Next, housing. Five of the nation's largest lenders came to an agreement with 49 state attorney generals and the Obama administration. The agreement won't end our housing troubles and it won't end the banks' legal troubles. But it will help a bit on housing -- it should lead to principal reductions, refinancings, and even checks for millions of homeowners -- and help a lot in protecting banks from lawsuits. Given that many in the market are already turning bullish on housing, this could be the push many need to begin reinvesting in the sector.

But two out of three is all we've got. Because when you get to Congress, there is, unfortunately, little good news. The talks over the payroll tax cut appear deadlocked. Ray LaHood, the mild-mannered and relentlessly bipartisan transportation secretary, took a look at Speaker John Boehner's energy and infrastructure bill and told Politico it's “the worst transportation bill I’ve ever seen during 35 years of public service.” And LaHood, remember, used to be a Republican congressman.

Now, this doesn't mean Congress won't eventually come to an agreement. Congress doesn't make deals until the midnight hour, and night hasn't even fallen yet. But at a moment when evidence of a rebound is piling up and some of the political uncertainty that has scared businesses and investors is lifting, it would be nice to see Congress pitch in on the recovery, rather than remaining a hold-out to the (relatively) good news.”