Dems Blowing it (including Obama) on Bailout Bill
by TarHeel, Wed Oct 01, 2008 at 04:51:02 AM EDT
remember in 2006 when the dems were elected to end the Iraq war and didn't - their approval dropped like a stone.
the dems in the senate refused to even try to get a timeline for withdrawal with funding passed.
Now the public is against the bailout bill that gives Paulson enormous powers and ignores his conflicts of interest e.g. he still owns goldman sachs shares.
Now rather than passing a bill with Democratic votes in the house - a bill that would be more progressive including actual measures through bankruptcy court to keep people in their homes or perhaps mandated transaction fees for wallstreet to pay for it they appear ready to cave to the GOP by adding tax breaks. Nothing for people to keep them in their homes or charge wall street for their crimes... Why not add provisions to attract Dems? Why try to get GOP votes? (I know they want to say "bipartisan" but if they don't get a majority of GOPers (which they won't) they will own it anyway.
Also linked to the legislation is a two-year extension of tax breaks that will save individuals and corporations about $149 billion over the next decade, another move popular among House Republicans. Two-thirds of House Republicans and 40 percent of Democrats defeated the bailout plan on a 228-205 vote. President George W. Bush and Senate leaders vowed to revive the legislation.
Obama doesn't seem to realize having an actual economic crisis is good for him.
Talking about real issues helps Obama - talking about lipstick and soldiers' bracelets and brittany spears does not. As soon as the crisis is "averted" the media will go back to talking about fluff.
I hope the new bill loses enough Dems in the house that it fails to pass again.
Obama made a huge mistake by embracing this thing tighter yesterday in Nevada. Josh Marshall at TPM noticed the risk. I somehow hope that Obama can vote against this though I fear he has McCained himself on it now.
Why do we elect dems to congress and the senate only to see them move to "sweeten" the bill for the GOP????
Should Obama lose (which I hope he doesn't) you will be able to trace it back to the day the senate passed this Turkey.....