Congressional haste makes Congressional waste
Tim Geithner is trying to reassure us that now there will be more oversight of the indescribably huge amounts of money Congress has been thowing at bailed-out companies courtesy of the American taxpayer.
Whatever we might think of that prospect, and of the government’s ability to oversee much of anything, it reminds us—as if we needed a reminder—that rushing complex and important bills through Congress is ordinarily a recipe for catastrophe rather than a remedy for disaster.
And yet the Obama administration, with the help of Pelosi and Reid, has taken the bad example of Stimulus One, passed hastily and almost unthinkingly by Congress back in the waning days of the Bush administration, as a model for their budget bill rather than a cautionary tale. Most of us on the Right think this is not due to stupidity, but is strategically necessary for them. They have a need for haste, to ram this thing home before the American people know what hit them, when it will be too late.
Then of course there’s the probably unconstitutional excess of the punitive tax on AIG bonuses, passed with lightening speed by the House (boy, those folks can move quickly when they want to, can’t they?) in a fit of fake populist ire and butt-covering anxiety. This bill (of attainder) set a terrible precedent and would have a chilling effect on corporate cooperation with subsequent government measures. To their eternal shame, some Republicans voted for it, too, although a similar bill sits stalled in the Senate due to a more united Republican opposition.
Because of the huge Democrat edge in both houses, right now all that’s standing in the way of passage of the shockingly high budget bill (the one that may indeed bankrupt this nation) is a thin blue line: moderate Democrats in both legislative bodies. Will this group morph into profiles in courage? If things slow down a bit and the American people have more time to get to know the budget bill and its likely consequences, voting against it may not take that much courage, either, since I predict the sentiment against it will build.
I don’t know how the American people got things so wrong this time. Electing Obama is one thing, but adding in an empowered Harry Reid and, especially, Nancy Pelosi at the same time was a huge mistake. I guess the voters forgot when they looked back at the “glory years” of the Clinton (with budget surpluses, etc.) that he had a Republican congress to keep things honest.
Neo,
http://www.reuters.com/article/politicsNews/idUSTRE52N67F20090324
ugh !
neo-neocon: Slow down? Why, that would produce such things as “consideration,” reflection,” “weighing of consequences,” “discernment,” and, heaven forbid, “rational thinking!” No, no – got to hurry, hurry….there’s a catastrophe around the corner… do it and do it NOW! Our Rulers can’t take a chance on the hix in the stix waking up. Pitchforks and torches are not good things to see coming down Pennslyvania Avenue, you know.
All with bailouts of paper media on the way- (nationalization), greater control over farms, and now it appears attempts to get authorization to seize insurance and investment firms.
I can’t even find any of the usual suspects live-blogging Obama’s crappy speech….
“When it comes to the economy, y’know, there is no silver bullet.”
To which my 11y/o stepdaughter said, with the snark only an 11 y/o girl can snark:
“Cuz, yeah, the economy is a werewolf or something….”
maybe its not so much haste, but so much soviet style collusion behind closed doors?
http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html
Dodd’s Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company
Erm, TARP I was late last year, Stimulus was (“Porkulus”) … oh, my gosh, was it just last month? How time flies when you’re having fun. /s