Just after the September 11th terrorist attacks occurred, George W. Bush went before the nation and made the case that he needed unprecedented authority -- budgetary and military -- to take on the threats poised at the well-being and safety of the country.
Now with the current economic crisis in the United States, Bush is yet again asking for unprecedented powers and budget.
What happened after 9/11?
We saw no-bid contracts given to firms like Halliburton. We saw $9 billion of U.S. taxpayer money "go missing" through the Coalition Provisional Authority. We saw abuses of power, the expansion of secrecy, and the promulgation of norms that seemed to be the very antithesis of what America stands for.
A nation's values and its deep DNA are really only knowable and observable during times of crisis -- when it's tough to stand up for codes that seem a heavy burden during tough times.
We are in a crisis again -- and the Bush administration is again asking Americans to forgo fundamental values.
Tonight, George Bush succeeded I think in scaring Americans that this crisis could be a systemic threat. Bush said "our entire economy is in danger."
That's the fear button. He pushed it. And he said the clock was ticking.
This seems like a bad episode of 24.
What is shocking about the presentation by Bush -- and the deal that is unfolding is that we don't see any acceptance of responsibility for the failure of his team's stewardship of the economy. We didn't hear acknowledgment that the compulsive deregulation mantra of Bush's political and economic allies created a massive bubble where lots of billionaires were created and now tens of millions of less fortunate Americans are holding the bill.
We didn't hear Bush say that it's time to reverse the tax cuts that he put in place to help those who have already benefited from the perverse finance and housing bubble that was pumped up.
We didn't hear a firm commitment from Bush to help the working families who hold these sub-prime and adjustable rate mortgages to stay in their homes and to help stabilize the lives of hard-hit Americans, their neighborhoods and their jobs. All the while, the macro players and big firms and their stakeholders are bailed out.
We probably do need to float major funds into the financial sector -- but there needs to be a quid pro quo written in to the deal, a new social contract that does away with the "winner takes all syndrome" that has helped rot out America's economic promise.
And we need to hear what comes after the bail out. This nation is heading into recession -- and is probably already there.
We need to trigger real growth in the real economy with real jobs -- and that's infrastructure.
We need a serious infrastructure commitment and a capital budget that helps make sure that some of this massive amount of money being let loose into the system actually gets some traction in rebuilding the nation's roads, bridges, schools, hospitals, and telecom infrastructure.
That was missing -- and it must be part of this debate.
-- Steve Clemons publishes the popular political blog, The Washington Note
Vote your interest. STOP falling for the same old hot button's and culture issues that the republicans have artfully masquaraded as legitimate voting issues.
Obama will lower the taxes for over 85% of all americans, unless of course you are int he TOP 2%.
or could it be they lost their job due to corporate downsizing of the last 8 years and could no longer pay the mortgage? It's hard to pay a mortgage without a job or with a job that pays half the salary of the "good" job you once had. I guess it can be misconstrued as being a deadbeat.
But reguardless of what caused the problem it is the way to fix the problem that we disagree on. You would have other Americans who work hard everyday, who went get another job when their last one was downsized, pay the cost of bailing out these people. We think there should personal and corporate responsibility. We should not have to bail out people or business with our tax dollars.
Did you see Biden's tax return? What a phony!
No bailout for Wall St. Let the chips fall where they may. Having lived in Regan world and witnessed what tricke up does, I don't care what happens to this economy. This economy and government has been dead to me, and many others, for quite a while now, notwithstanding those good people from SD. Try looking at the country. Many of us are GOOD PEOPLE, in spite of your parochial view.
This bail out is flawed we need to look at how we got out of the depression and follow that path !
Also the Republican's need to stop using this crises to their advantage making it into a policical ploy for votes .McCain said he knew before hand coming into the meeting that the Republican's weren't onboard for this plan ,so why didn't they tell the Democrats ?McCain claims he can reach across the isle in a bipartisan agreement ,,well that is not what we all saw ,in fact we saw the opposite !
Go back to the table and insist on using the same measure of liquidation used in the depression that got us out of it and helped to rebuild the economy. Use history for our benefit instead of following the same distructive path that lead us into this mess.
Get your facts straight. It was the house that were not on board.
This morning I read an email from Ron Paul about this whole economy mess and he made a great deal of sense to me.
To cut to the chase this is the jist of what he is saying ,,that the Federal Government caused this whole mess by lowering the interest rates !
A bail out would be taking us down the same road that took us into this mess in the first place ,not correcting it !
Now when the depression happened because of the same failures in the Federal government it didn't recover for a decade when they decided these institutions bad investments needed to be liquidated .
So it makes sense to me that we need to follow the recovery plan that took us out of the depression and on the road to recovering by liquidating these institutions bad investments .If it worked then it can work now and then there would be no need for a bailout at the tax payers expence.
An adult owns their mistakes. Bush is just a man child - a product of arrested development. We allowed this child two terms in office - either by voting for him or by not standing up when he stole the elections. We deserve all the wreckage he has brought on our country.
The present problem is he has no credibility. If the current financial crisis really does call for swift and immediate action, the public's utter lack of faith in him might prevent it. It's a classic "boy who cried wolf" scenario.
They are for media consumption.
This administration and GOP congress have been looting this economy for 8 years, and now we are to believe that they hold the keys to solving the problem? This is yet another giveaway disguised as relief, which only relieves the wealthiest people in America. They are only trying to manage the image.
We have had almost 8 yrs. of less government and what the result of that has been is to PRIVATIZE WEALTH AND SOCIALIZE DEBT. What has happened to the middle class??
Why is it so hard to understand that it's not about More or Less government, but about an EFFECIENT Government.
Pres. Bush put forth the request and Congress is discussing it with him.
They will finally come to an agreement.
McCain wants private investors to take over the debt and not the tax payers.
Don't have a panic attack until you hear what the plan wil be.
It's money grubbing 24/7 for Republicans while MIDDLE CLASS AMERICANS PAY
for the richs' tax breaks and more, more, more...
Sorry, y'all, but I can't vote for corrupt Republican LIARS.
I just CAN'T AFFORD REPUBLICANS any more.
NO MORE YEARS. None.
REPUBLICANS PROVED they cannot govern and don't want to learn how to.
My vote's going for common sense management: Obama-Biden.
I can't vote for corrupt Republican LIARS.
I CAN'T AFFORD REPUBLICANS ANY MORE!
NO MORE YEARS.
REPUBLICANS PROVED they cannot govern and don't want to learn how to.
My vote's going for common sense management: Obama-Biden.