Showing posts with label congress. Show all posts
Showing posts with label congress. Show all posts

Tuesday, September 30, 2008

A Real Lemon

What faith Americans have in our country. A deep trust that no matter what happens, our nation will always prosper. We are utterly confident in the future - or, at least, in our own ability to manage it. Consider the rejection yesterday of the bailout.
...a majority of those politicians anointed by the U.S. Constitution to reflect the will of the people voted no. This is a remarkable event, the culmination of an historic sense of betrayal that Americans have long felt for their representatives in Washington D.C. The nation's credit crisis exposed Monday a much deeper and more fundamental problem — a political credibility crisis that now threatens to harm our nation further, should the markets freeze up and more companies begin to fail, as many experts predict.
We were promised by the most powerful people in the country that the solution offered may have been ugly, but it was entirely necessary. We didn't believe them.
Asked to take a leap of faith regarding a dizzyingly complex problem, a critical mass of voters refused to trust their leaders, turning down the medicine that was offered. And so the politicians who are most exposed to popular whims have run for cover.
The deal was too cozy - the players too interconnected, the problem too abstract - for us to buy in. We've always heard that our trust in politicians was just a notch below car salesmen, and yesterday we confirmed it.
Years ago, the trust between the people and their politicians was broken. The credibility was lost. The reserve of goodwill went bankrupt. And when they needed it most, our nation's leaders found they had squandered their ability to exert influence over the people who chose them to lead.
Our elections reflect this disdain. We're willing to throw anyone into office, figuring it can't make things any worse. A governor from Arkansas who chases women uncontrollably? Sure. An inexperienced Texas governor whose main claim to fame is that his father was president? Ok, we'll try that.

We're passive aggressive. We don't feel any control over what our government does or what our society is becoming. Like teenagers bending rules to escape their feelings of powerlessness, we express our resentment with an "I don't care," shrug of the shoulders.
Nearly every major political leader in America supported the $700 billion financial bailout bill. The President of the United States. The Vice President. The Treasury Secretary. The Chairman of the Federal Reserve. The Chairman of the Securities and Exchange Commission. The Democratic and Republican nominees for president. The Democratic and Republican leadership of the House and the Senate. All of them said the same thing. Vote "yes."
We wanted a "no," so that's what they gave us.

I don't know if it's unique to our country, or unique to our time. Perhaps it's just human nature. Sometimes being impetuous feels good... very good. Even when the stakes are incredibly high.

Which is why the worsening economic situation bodes well for Barack.
If anyone can be made the American Idol, then why can't anyone be made president? The more we need someone with proven abilities, the less faith we have in experience. The more we need someone we can trust, the more intrigued we are by someone who hasn't earned it.

Because we don't really think that it's all about the government. We figure, in the end, it's about us. And we trust in our own ability to pull through. So we'll take it our way rather than theirs. And we'll live with the outcome. No matter how painful.

The irony is that the desire to act out cuts across party lines. The same instinct that makes Republicans want to lash out at the corruption in Washington by refusing their imperfect bailout makes Democrats want to elect the man so uniquely unqualified to be president.

Friday, September 26, 2008

Debate is On!

McCain has decided to take part in tonight's debate. Why would he not?
McCain has transformed a minority in both houses of Congress and a losing position in the polls into the key role in the bailout package, the main man around whom the final package will take shape.
Dick Morris explains that the Democrats had crafted a bill with the President that is unpopular with the American people. McCain now gets to design, with Republicans in congress, the revised measure.

Instead of signing on with the Democratic/Bush package, the House Republicans are insisting on replacing the purchase of corporate debt with loans to companies and insurance paid for by the companies, not by the taxpayers. That, of course, is a popular position. McCain would be comfortable to debate this issue division all day.
Will Democrats fight over the new provision?
...the Democrats are not about to be stubborn. They know their package is a lemon and need the political cover of Republican support. So the Republicans can write their own ticket…and they will. John McCain will be at the center of the emerging compromise while Obama is out on the campaign trail kissing babies.
Isn't McCain taking a big risk? What if he can't pull the legislation together?

By Monday, at the latest, the Democrats have to cave in and pass the Republican version. They don’t dare pass their own without GOP support, so they will have to cave in to the Republican version.

Then McCain comes out of the process as the hero who made it happen when the president couldn’t and Obama wouldn’t. He becomes the bailout expert.

No wonder Democrats are acting so snarly.