Meet the New Bailout, Same as the Old Bailout
Sirota’s right: a vote for this bailout, in its new-and-improved-form, is still a vote to decapitate the progressive movement.
$700 billion is about 5 percent of our entire economy. It is roughly enough to create a universal health care system for the next 5 to 10 years. It is also enough to fund the energy and infrastructure investments most economists say we need to build our economy in the 21st century. Handing that $700 billion over to Wall Street and putting it on the national credit card will make it almost impossible to finance these priorities.
Frankly, I’m not sure this piece of shit’s gonna fly either:
But with conservative Republicans denouncing the plan as an affront to free-market capitalism and some liberal Democrats criticizing it as a giveaway to Wall Street, both parties were anxiously starting to court votes, particularly in the House, where angry Republicans nearly scotched a deal that had been in the works for days.
House Republicans, under pressure from Democrats to deliver 70 to 100 votes, were scouring the ranks and focusing on the two dozen Republicans who are retiring this year.
Both parties also were scouring the political map to identify lawmakers who face little or no opposition for re-election in November, knowing they would be more willing to vote yes.
Democratic officials said that despite having control of both chambers in Congress, they were far from having a majority sufficient to pass the measure just from their ranks. And they also warned that Demo-crats in potentially tough races could not be counted on to provide the votes to put the package over the top when it reaches the floor.
Officials, including Bush, had stepped up efforts Saturday to sell the plan to the public, which, according to opinion polls, is deeply skeptical.
Get your dialing finger ready: no on the new-and-not-so-improved bailout.
September 29th, 2008 at 2:55 pm
love the post title (I can hear that windmilling guitar as I read it….)
SO pleased (and surprised) that it didn’t go through. Wow! The house grew a spine!