Before busting the bank
by Jerome Armstrong, Mon Sep 29, 2008 at 03:29:01 PM EDT
Markos, on Congress doing the right thing today, and hoping for an alternative:And with those alternatives, hopefully we have options that offer solutions to the problem, but don't destroy an Obama's administration to invest in progressive priorities like health care, education, and alternate fuels. Hopefully we have a solution that places the burden of the bailout on those who most benefited from it. Hopefully we have a solution that provides tangible benefits to those most harmed by this crisis, not those who have benefited. And sure, the wingers may not like it (since what they seem to want is more regulation, which is what got us here in the first place!), but we have the majorities. And if the crisis is as bad as Bush claims, let him try to veto a more equitable solution to the crisis.
It's almost as if, the administration thought this election through already, and decided that if they could bust the budget wide enough, then Democrats, incoming with 60 votes in the Senate, 250 in the House, and a President, would be able to do nothing but cut costs. Try to spend anything in '09, and the Republicans would be re-born as fiscal deficit hawks running against the spendster libruls.
I don't pretend to know the solution here, other than taking the fiscal downer now, which is admittedly trite. I also have to wonder about the tact to 'own' this thing as well, making it a Democratic bill that takes on Bush, which has its own set of problems. Its become so poisoned that to let the Republicans off the hook would seem to be handing them a gift. At the end of the day, I am doubtful that this "no" sticks, and won't be at all surprised to see a dozen votes flip to pass this behemoth budget buster pass as is. We win it all, and are able to do nothing but raise taxes and cut spending.