One thing became apparent during the debate. No one in the House or Senate is a leader of the country. Nancy Pelosi decided she wanted to be a party leader at the last minute and decided to embarrass the republicans in a speech.
Rather than rising above the rhetoric the republican’s feelings were hurt and they considered that more important than the country. Now, there are reasons to vote against the bill, and I wanted them to, but one reason the republican’s themselves used for voting “no” was Nancy Pelosi’s speech.
And then they took a couple days off. The Senate put together their own version of the bill. What was different? A better plan that strikes at the root cause? More details on what actions will be taken? No and no. They added $149 billion dollars in tax breaks. So not only are they allocating $700 Billion for the bailout, they’re reducing revenue. Despite their best intentions I doubt McCain’s tax breaks or Obama’s health plan will see the light of day no matter who wins. We won’t be able to afford it.
So, it’s questionable whether or not the bailout will help the economy enough or exactly what the cost will be. But as Barney Frank said:
We will be back next year…
I suspect a bad economy will be right there waiting for him.
Failure to Lead
One thing became apparent during the debate. No one in the House or Senate is a leader of the country. Nancy Pelosi decided she wanted to be a party leader at the last minute and decided to embarrass the republicans in a speech.
Rather than rising above the rhetoric the republican’s feelings were hurt and they considered that more important than the country. Now, there are reasons to vote against the bill, and I wanted them to, but one reason the republican’s themselves used for voting “no” was Nancy Pelosi’s speech.
And then they took a couple days off. The Senate put together their own version of the bill. What was different? A better plan that strikes at the root cause? More details on what actions will be taken? No and no. They added $149 billion dollars in tax breaks. So not only are they allocating $700 Billion for the bailout, they’re reducing revenue. Despite their best intentions I doubt McCain’s tax breaks or Obama’s health plan will see the light of day no matter who wins. We won’t be able to afford it.
So, it’s questionable whether or not the bailout will help the economy enough or exactly what the cost will be. But as Barney Frank said:
I suspect a bad economy will be right there waiting for him.
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Tags: fail