To Raise Confidence in the Market: Bush & Cheney Should Announce They Will Resign As of November 14, 2008
Although the problems with the financial markets are fundamental, some of the resistance to unclogging the credit markets is the absence of confidence, in the future and in our leaders.
There is one simple, pervasive fact that cannot be ignored: no one trusts anything George Bush says. He has lied too often, has been wrong too often, and has screwed up the country too much, to have even a sliver of credibility left. Even his Wall Street pals who continue to pay lipservice to Bush at evening cocktail parties, march into work the next day and do not express the same confidence in Bush with their investments. Money talks.
On November 4, 2008, someone will win a majority of the vote. Almost by definition, that person will have nearly 2.5 times the support of George Bush's 22%.
During the Great Depression, new Presidents took office in March. From November to March, Franklin Roosevelt could not cooperate with Herbert Hoover, for fear of his credibility being dragged down at the same time his flexibility would by limited by the association with a disgraced President. FDR realized that his credibility would be as important as his policies in digging the US out of the mess that had been dumped into his lap.
Today, new Presidents take office on January 20, 10 weeks after the general election. For the same reason, whomever is elected cannot act in concert with George Bush because he needs to retain the trust people have just bestowed upon him.
I do not believe we have 10 weeks to wait while a disgraced lame-duck prances through the waning days of his disastrous presidency. If Bush were a true patriot, he would allow the rest of us some chance for a restoration of trust and confidence by going.
Indeed, just the announcement that they will be leaving should increase the market's confidence.
It would be George Bush's only positive legacy, and we would have something to thank him for. Indeed, he could, as he said he wants to, get an early start on his post-Presidency goal of "replenishing the ole' coffers."
Here's how it could be accomplished.
1. Dick Cheney resigns on November 13th, and George Bush appoints the winner of the November 4th election to be Vice-President.
2. Upon Congressional approval of that choice, Bush resigns on November 14th, and the newly-installed Vice-President gets sworn in as President.
3. The new President appoints his running mate to the Vice-Presidency, and Congress approves.
The cabinet would be asked to remain, and work with the new team to transition as quickly as possible to a new economic team. Yes, it would be better if we had time for the winner to put together his government in the next 10 weeks. But, we don't.
For the Bush administration, there is really only one question left: "How long, George Bush, will you abuse our patience?"*
*[Borrowed from Cicero's: "How long, Cataline, will you abuse our patience?"].
Loading comments…
Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to
There is a perfectly legal way for Bush and Cheney to leave - they could do what would have been done 2 years ago in a parliamentary system, and resign, turning the gov't over to Nancy Pelosi.
Nancy is sensible and efficient, and she could work with Obama to appoint a new cabinet, and begin to flush out all the thousands of Bush hackers who have ruined the administrative branch. We could first of all get a new Sec. Treasury. It's pretty clear that Paulson is not part of the solution.
Dow: -20% in 3 weeks. At'a'way to go, Paulie!
I hope your article was intended to be tongue in cheek. Bush has been horrible, but the economy is not going to suddenly improve if he steps down 10 weeks early.
For example, Bush was the biggest cheerleader for the Bailout Bill. Yet, the passage of the Bailout Bill has not had an immediate beneficial impact on the economy. So why do you think Bush stepping down early (when he is currently showing a willingness to do whatever Wall Street wants him to do) is going to immediately benefit the economy?
Also, your satement that whoever wins the election will have 2.5 times Bush's support is one of the most illogical statements I have ever read. We have a ridiculous two-party system which results in approximately half of the country voting Republican and the other half voting Democrat. If Bush were the Republican candidate this year, he would probably get around 45% of the vote despite his 22% approval rating. Comparing percentage of votes to percentage approval rating is the proverbial comparison of apples to oranges.
This is like Obama comparing America's usage of 25% of the world's annual oil output to America having only 3% of the world's oil reserves. Apples and oranges. The underlying point of the argument might be correct, but the numbers used to support the argument are meaningless and misleading.
See Paul Abrams's Profile
One of the reasons for the meltdown is lack of confidence in leaders. A 10-week headstart on restoring that confidence would help reduce the length, and perhaps the depth, of the problem. There was no suggestion that there would be an immediate relief.
Paul, I agree with you 100%. I'd like to see more columnists around the country step up and call for Bush-Cheney's resignation. Dowd and Rich for starters. The resignation of Bush might begin to restore some hope and confidence in the country. If he had any class, he would also apologize to the American people for running the country into the ground. I'm convinced that this is the only thing that will help America at this time---and would be Bush's only "positive legacy."
Bush is not a patriot.
His true loyalty is to the corporate Big Boys he never quite measured up to.
I'm sorry but one day of President Elect Obama as Bush's VP is just one day too long for me!
If they want to do the country any favors.... which I highly doubt but as long as we're fantasizing...let's go with it anyway.
They can BOTH resign on Nov. 5...making Nancy Pelosi, President and then I could work with President Elect Obama being her VP until we sort things out.
Of course, we'd probably have to heavily sedate Hillary and Bill first...but it could work. LOL!
Dumb, dumb, dumb idea. The framers were right in allowing a few months to pass between the election and inauguration. Back then, it was March; however, it was changed to January 20th back in the 1930s, which I think works even today.
There are many appointments to be made, legislation to consider, FBI investigations to be completed, and planning for the inauguration. I think Obama will have one of the largest inauguration ceremonies in history, a people's inauguration, which will take time to organize. I think it's a much better idea that he hits the ground running on January 21st, instead of fledgling on trying to organize the government on Nov. 14th.
Once he is elected, he will be President in all but name. The press will abandon Bush in droves and Obama will become the center of attention by the entire world. BTW, I hope that he also has time to take a few days off. He's going to need it, considering what's ahead for him.
And leave Nancy Pelosi in charge, even just for two months? They would never. Never. The GOP clearly has one woman in mind when they consider the first female administration, and it's not a woman even 1/10th as smart as Pelosi.
Dude, why wait until the 14th. Obama (if he wins) needs to start on the 6th. He will be up late likely on Nov 4th awaiting incoming results so let's let him sleep in on the 5th. But the way the current administration has been either missing in action or responsible for the numerous catastrophes that have beset this nation, Obama doe not get a day off for a while. He needs to get to work.
Get Obama a fresh shirt and clean tie, swear him in, get him behind the desk in the oval office and get to work.
"W" act like a patriot? He couldn't even be bothered to finish his enlistment with the Air National Guard during Vietnam - putting politics before country.
He needs to be reactivated as a reservist , sent to Iraq to complete his military service and then stop lossed until we get all of the troops out.
He can be the last to leave.
LOL! Best idea I've heard in 8 years for that pin head!!!
Remember that the election is not official until the Electoral College is convened and their votes are cast, counted, and the results documented. If memory serves, this does not occur until the preceeding January following a November election cycle. This plan would only work if the timeliness of the EC activity is adjusted acordingly.
Resign? That's all?
Bush and Cheney are criminals and would be in prison if it wasn't for the feeble and pathetic Democrats.
I don't think that Obama needs the distraction of a criminal indictment of Bush/Cheney. Let them pass into oblivion and let history be their judge. I think the legacy of being second or third worst president in American history will be a far greater punishment than anything that a judge or jury could inflict on him.
Actually, impeachment or a criminal conviction would send a message to future "george bush/dick cheney" wannabees that the system will punish you for your misdeeds. Convicting these criminals is the first step in returning to the rule of law. It is not a distraction, it is critical to the restoration of America. My biggest concern about voting for Obama is that he will just "let it go" rather than bringing them to justice.
Reid and Pelosi should have demanded their resignations (including the entire cabinet) as a principal tennant of the $850B credit market bailout plan. I am confident that that solitary act would have restored at least a modicum of credibility on the public perception of their "leadership" in two important ways:
a. it would have demonstrated NONpartisan committment to rersolution of the issue, and
b. emphasised the importance of the 2008 election to something other than the pedestrian sporting contest it has become.
Ask yourself why it did noy happen and you will begin to understand why the approval ratings for the Congress is in the single digits!
The two highest ranking Democrats demand the resignation of the Republican president to demonstrate a NONpartisan committment?
Bush and Cheney might ask for a pardon has the price for their early departure... Not worth it let them finish their term!
Now hold on. I believe November is not right for the President. Septic is to be pumped at the ranch, and staff always dry cleans the furniture and slipcovers. December won't work. Gotta paint.
Neat idea, but who will be doing the confirming? You just know the congress is going to take a long vacation between November and January.
You must be logged in to comment. Log in or connect with
