The whole idea of handing over $1 Trillion (probably more, you heard it here, if not first, at least often) to Sec. Paulson without any restrictions or oversight is insane, particularly insane when you remember that he is a part of the worst single administration in U.S. history, an assembly of conniving incompetents that even the greatest satirist could not have imagined, and that Paulson will be out of work in a few months and out looking for employment in the same industry to which he will be handing out money in staggering sums.
We need the Democrats to stand up here and Obama‘s speech today will go a long way to showing whether or not he is worthy of the faith many have in him.
This is a worisome thing because, let us face the facts, the Bush Administration did not managed to achieve this level of disaster all by itself. There were enablers:
[W]hile the GOP sought greater and greater government power, Democrats acquiesced almost completely when they weren’t complicitly enabling it. While the Executive was off the charts in terms of the power it seized, the Congress was off the charts in its passivity and eagerness to allow them to do so. That’s what has caused the extreme imbalance, with a bloated Republican Party and virtually unlimited presidential power: the failure of Democrats and the Congress to serve as a check on any of that. As their newfound contempt for unlimited power makes conclusively clear, the executive-power-worshipping Republicans of the last eight years — if there is an Obama presidency — will quickly re-discover their limited government power “principles” and won’t be nearly as accommodating.
I amnot entirely convinced that what happens this week might determine the election and the fate of our two national parties, not to mention the nation itself, but I am more and more leaning that way. If the Congress caves and Obama is less that clear and strong about what must be done, we are in far worse shape that we yet realize.