Republicans Have Only One Winning Play – Bailout Fatigue
Today’s flailing about by Congressional Republicans while trying to get their stuff together on the budget is telling.
These poor folks haven’t figured out that we don’t really care what their plans or blueprints are to solve America’s biggest problems. They had their chance and they blew it. With the exception of allowing more permissiveness by bankers and brokers, President Barack Obama is doing what we elected him to do – big things like health care, a new energy future and long overdue tax breaks for the middle class.
The one thing they could be making political hay on but are as missing in action as Democrats, is the patent injustice in how Wall Street continues to be taken off the hook for totally screwing up the entire world economy. Perhaps they’re as beholden to the campaign cash that flows from the nation’s financial districts as the Democrats are – that’s the only plausible reason for such an unfair state of affairs.
My advice to Republicans goes like this: If you are serious about being the loyal opposition and doing something worthwhile for America, fight these bailouts. I don’t know a single soul in myown life that believes there is any accountability being sought from the AIGs and Citis of the world from the Obama Administration. The TALFs, PPIPs, TARPs and other assorted bailouts have one thing in common – when they fail taxpayers’ funds are gone. Even Treasury’s latest toxic asset program floats the private sector our money with no downside risk to investors.
Republicans have made a generation’s worth of headlines fighting the culture war, battling over ridiculous things like Terri Schiavo and homosexuality. How about if Republicans stood up for some values that truly all Americans believe in – fairness, level playing fields and consequences for companies that screw the entire country over.
The fact is, the GOP has no credibility on most public policy. However, there is a vacuum of representation in Washington for ordinary Americans and their money when it comes to bailing out the financial services industry. I would cheer a loyal opposition that doesn’t roll over and play dead for corporate bailouts even if they politically postured on everything else. I sure as hell wouldn’t become a Republican, but I’d at least respect the once respectable GOP.