Friday, September 26, 2008

Democrats Fail to Take Lead on Bailout

Democrats are currently trying to pass the blame for the failure of the fed to pass the 700 billion dollar economic bailout package. Unfortunately for the Democrats, Americans know they have the majority in both the House and the Senate. That means the Democrats, if they truly felt this package was a necessity, could easily pass the bill by calling for a vote. Even President Bush has indicated he would sign it should they do so.

Unfortunately, Nancy Pelosi, Harry Reid and the Democrat leadership are not willing to take the lead on this important issue. They know the plan is a fallacy designed to scare the American public into passing the largest socialist expansion of the federal government in history in much the same way 9/11 allowed them to pass the Patriot Act. The know the bailout is ultimately doomed to failure. So instead of coming up with a real solution, they choose to blame house Republicans for their failure of leadership.

This cowardice is only accentuated by the actions of Pelosi and Harry Reid in yesterday's meeting with Bush and Senators McCain and Obama. On Wednesday Harry Reid issued the following statement about McCain's decision to go to Washington to help breach the deadlock:
[I]t would not be helpful at this time to have [McCain and Obama] come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation's economy. If that changes, we will call upon them. We need leadership; not a campaign photo op.

Yet, when it became time for Nancy Pelosi and Harry Reid to explain the Democrat position on the bailout and display that leadership they instead deferred to their presidential candidate Barry Obama.

We think a total lack of leadership and the inability to take a position on key issues are exactly the kind of 'change' the American public is clammering for.

On a related note, the game of chess McCain has been playing with Obama, the one that forced the would-be democrat president to follow McCain's lead to Washington, has made yet another bold move. The debates are back on.

We won't call this a brilliant decision by any means. Reversing the decision to delay the debates may come off looking as though McCain blinked first. However, if the McCain campaign's plan was to distract Obama and keep him from spending the last 48 to 72 hours prepping for their big foreign policy debate, it may just pay dividends yet.


chris said...

Thank God for the House Republicans. They saved us 18 months ago from amnesty and they are saving us so far from this monstrosity.

The more I hear about the potential bailout, the more I don't like it.

It is interesting that the dems don't pass this. Just like amnesty last year, they don't want to take the blame for this.

Radioman of Kansas City said...

Dems have the votes. Dems are looking for concensus. Your headline is misleading and premature.

Leave the yarn spinning to Limbaugh, what do ya say?

And guess what NO ONE likes this potential bailout. Rush was spinning at 1pm when he ran a bite from the dem leader saying no one knew what to do. Of course not.

But that night, it was reported they were all in meeting listening to Bush's moneymen and came out ashen colored.

Too bad rush, who's supposed to be leading some self appointed Academy for conservative excellence, isn't coming up with some ideas rather than just doing the usual partisan fingerpointing.

Rush is acting like press reports are either wrong or just falling down along party lines. He wasn't there. Dems say McCain didn't say much in the meeting but certain repubs say he and his people said PLENTY ON THE PHONE to them before hand, tyring to get them to torpedo any possible agreement.

Is this like the officers of the Titanic having a big arguement, arguing well into the morning about whether or not to lower lifeboats?

Who can know. MY view is that no one this far from Washington has anything helpful to say except to pray for wisdom, wait for details on an agreeement to come out... and then... AND ONLY TEN say something.

I'm with you, don't hang the middle class... Rush is wrong about saying the government caused this. The government did not hold those banks at gunpoint to buy up those risky loans!

It was greed. It was free enterprise. What to do now? Lets focus on bailing out the fuquing boat rather than what fool hit the iceberg!

James said...

Free enterprise? The government didn't force them?

Yes, they did. Look at the Community Reinvestment Act. Look at the fed calling things like the ability to pay "outdated criteria". Look at Fannie Mae and Freddie Mac removing the downpayment requirement and then agreeing to federally insure these crappy loans, which is precisely why investors thought they were solid investments, they were government backed.

Yes, Wall Street greed worsened an already bad policy but it was going to fail no matter what. You can't loan money to people that have no means of paying it back.

Free enterprise didn't cause this mess, regulation did. Quit buying the dem talking points and actually look at the real causes if you want to prevent it from happening again.

Hell, there is more detailed and sourced info on this blog about where both parties went wrong than you will likely find anywhere else. Read, get educated, then come back and talk about it instead of regurgitating rumors that democrats are trying to put out to avoid taking a position and passing the bailout.

chris said...

Radioman, you are misreading McCain. I am sure McCain WANTED the deal. It is the base republicans, as represented by the House Republicans, that does not want the deal. Both Obama and McCain have hordes of Wall Street advisers that are pushing for this deal.

This is similar to how McCain pushed for amnesty in 2007. It was the House Republicans who stood up to democrats and the Senate republicans lead by McCain.

McCain is not winning this race because he can't rally the average joe because McCain is on the side of the Wall Street and the Chamber of Commerce.

Now, back to the dems. You admit they have the votes, but that they won't pass this until they get "consensus". That's lame. They know this bill is bad and they want to make sure the republicans are on board so they don't get the blame.

Anytime congress tries to railroad a bill through with little or no debate, one should be nervous. It probably means it's bad for America.