Early today most of us were greeted with the news that a bipartisan plan to bring about the stability of the current crisis had been reached. Leaders of both parties, agreed that this was not a deal they wanted to make, but that the alternative of doing nothing was even worse. In fact, on Sunday both presidential candidates were taking credit for reaching this accord. What went wrong?
Well, outraged voters called, emailed, and texted their representatives to tell them to vote “no” or face their anger at the polls in slightly over a month. Although the voters were justified in their outrage, the government had failed to make their case especially on the ramifications of voting against this plan–and a case can be made if one has even a cursory knowledge of the Great Depression or the rudiments of our economic system. But the government failed to bring the voters into the discussions especially those that would have given the public a view of the worse possible scenario. That was Step 1.
Step 2. The distrust of the government by the voters was underestimated. Any proposal brought about by those that had created the problem, either by ineptness or inaction, was suspect. The imperial presidency of George W. Bush has no credibility with the citizens, and his failure to admit any responsibility for this crisis adds to this lack of faith in him, his administration, and our elected officials.
Step 3. Proportionately more Republicans than Democrats voted against the bill. John McCain could not get his fellow Republicans to put aside partisan politics for the good of the country. This raises questions as to his ability to persuade or lead as President. Also, it indicates that the GOP is filled with dogmatic politicians and not statesmen/stateswomen.
But As For Me…
After the Stock Market free falls and the American Taxpayer can finally understand the consequences of inaction, there will be another vote and the bill will pass. Why? Because the alternative will punish more than the scoundrels on Wall Street. It will lead to mass unemployment, inflation, an economic implosion at home, and concomitantly a domino effect in the global marketplace. Is the American Taxpayer justified in being outraged? Yes, but sometimes being right is not enough given all the facts. Remember that old adage of ‘cutting off one’s nose to spite one’s face.‘
