"12 really large checks"

That’s how a lobbyist was quoted in a news story describing how he was preparing for the 12-member congressional deficit committee that will be charged with finding further ways to reduce the deficit.

The "Super Congress" created in the debt ceiling deal to address additional spending cuts or revenues will make it cheaper for Wall Street, tax dodging corporations, and special interest lobbyists to influence the spending cuts and revenue debate in Washington, according to a statement from Public Campaign Action Fund (PCAF).

Members of Congress love Taylor Swift! Wait, that doesn't seem quite right. Let's try again. Members of Congress love FUNDRAISING at Taylor Swift concerts. Yes, that's it. Public Campaign Action Fund discovered this phenomenon last year, and it looks like even more Members are getting in on the act in 2011.

If there's one thing that Congress is good at, it's finding new ways to rake in campaign contributions. Politico reported today on how many members of Congress of both parties are using the debt limit crisis as a tool to raise campaign cash.

Millions of Americans rejoiced yesterday when a fierce negotiation involving billions and billions of dollars resulted in a deal that both sides are content with. No, I’m not talking about the debt ceiling impasse, which continues to threaten the economy, and America’s reputation all over the world.

Here's a round-up of Public Campaign and Public Campaign Action Fund's work for the week of July 18-July 22, 2011.

"Stop doing your job, and get to work!" That, of course, is not an actual quote from Republican party leadership, but after some members of the class of 2010 reported low fundraising numbers this quarter, one could imagine them hearing it. Open Secrets has a blog post today that delves into the fundraising numbers of the freshman class of lawmakers, who were sent here presumably to legislate, and have found that's not necessarily the priority. 

This Thursday marks the one-year anniversary of the passage of the “Dodd-Frank Wall Street Reform and Consumer Protection Act,” legislation passed by Congress to rein in the banks and protect consumers from the practices that led to the economic collapse. Since it’s passage, Wall Street interests have continued to exert influence over Congress in efforts to weaken, repeal, or as one bank lobbyist said recently, “reform the reform.”

Earlier this week, Public Campaign was on Capitol Hill and we caught up with Fair Elections Now Act (S. 750, H.R. 1404) sponsor, Rep. Walter Jones (R-N.C.). Check out the interview below:

Lobbyists for Wall Street interests have to be pretty nimble, I guess. Politico reports today on how Wall Street interests, who've recently been dealt some blows in Congress, are shifting their lobbying strategy away from Capitol Hill, and toward the very people in charge of regulating them.