Gridlock or Clusterf*ck?
The Bush Administration is the overturned truck at the side of the road. See if you can find the “Straight Talk Express” . . .
John McCain (hereinafter “Pappy McCracky”) to the rescue? Well, it appears that the GOP set-up is in place, at least in the House of Representatives where some 120 Repub super “conservatives” are in full revolt against the bail out plan being pushed by the Administration. They also are holding their noses quite publicly about the Senate machinations that attempt to add taxpayer protections, accountability, and oversight to the so-called Paulson Plan.
So, what is the House GOP Gang of Approximately 120’s plan? How about we just let the “invisible hand” of the market work its wonders? How about, actually implementing the Depression era advice of Uber Free Marketeer Andrew W. Mellon and allowing the markets to “purge the rottenness out of the system;” i.e. “liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.” The details that are leaking out appear to point to almost exactly that, no federal bail out money, oh, and of course, more tax breaks. Let the market work its “wonders” without government assistance, or, as they put it, government interference. Watch out below! They are literally betting their laissez faire ideology all in. If the markets fail to react as they hope and the private money they guarantee will rescue the economy does not appear, then a recesssion flirts with depression.
But, is there a trap somewhere lurking here? After all, the Gang’s hold out appeared just about the time that Pappy McCracky rode into town. I’m wondering if the House GOP Gang’s revolt is a rather inspired bluff cooked up with the McCracky campaign staff. Pappy arrives in town; we House Gang members revolt; we petulantly sit on our hands for a few days so the voters really worry that no deal will be struck; and then, early next week – or, craftily, just before the debate tonight – we House Gang members issue a statement that “thanks to the strong leadership and helpful advice of Papppy McCracky we recalcitrant ones are ready to vote for a modified federal bail out.” And then, their hope is, McCracky’s poll numbers soar and Obama’s input is marginalized! Oh yeah, and best of all, the actual economic results for the country won’t be visible until after the election! This is quite a play, one of the great bluffs of our history. And they are all in not just with Wall Street’s future, but with Main Street’s as well.
UPDATE 1: 9/28/08, 1:05 p.m. The House GOP Gang of Approximately 120 is right now holding a presser. Minority Leader Boehner, Roy Blunt, and all the rest. They opened the presser with a “thanks to the leadership of Senator McCain . . .” and went on to say, quite petulantly, that they would not agree to any tax payer money being used for a bail out. Yes, I think I’m right about this one, the McCain campaign fix is in. Stay tuned.
(An amusing note: No-federal-money-for-the-bail-out fighter Roy Blunt’s official House website heralds “9.24.2008: Congressman Blunt Announces Federal Funding for Area Projects. Southwest Missouri Congressman Roy Blunt today announced area priorities he secured federal funding for in the Defense Department’s Appropriations bill for the 2009 fiscal year. “)
