Bush Does a 9/11 Replay in Asking for Unprecedented Powers and Unprecedented Budget
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
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John Mccain is a maverick who is afraid. Afraid to face Obama and the American people with answers that actually hold substance. If you wanted to know what kind of president (I already knew)McCain would make, just look at the past few days. No leadership, lack of understanding about the economy, stunts, razzle dazzle and of course Palin. No way, no how McCain.
I would't be a bit surprised if it turns out that like the Patriot Act and the Iraq War having been written and planed respectively when Bush took office the failure and bailout were developed at the same time.
It all seems like an elaborate but historically time tested plot.
And all by the President who's Grandfather plotted a fascist coup with similar details in 1934. And that was before he laundered 50 mil to Hitler's Nazis.
The plop doesn't fall far from the Elephant.
With a pedegree going all the way back to Preston Bush and his dealings with Hitler there's no doubt that Hydrophidian has correctly charachterised GW as well as the rest of the Bush family as rotten to the core.
May the internet revolution expose these facts to the wider audience and lift enough Americans above the cheap 10 second grabs which have so long been the firepower of the neocon side of US politics thereby shifting the political ground back to the middle.
The world is watching you with great trepidation.
When Bush last said that the United States was in great danger, it was in 2003 and Iraq was about to attack us. He was not quite telling the truth then. Is he telling the truth now, or is it just a final present for his friends?
This is an unmitigated mess. Eight years of Republican colossal disaster: 2 wars, a dwindling middle class, a recession threatening to be a Depression. When Bush took office, we had a surplus. The last Republican to say the "economy was basically sound" was Herbert Hoover! Way to go John McCain.
No one has mentioned that he doesn't want to debate Friday night. Nothing in it for him, right? But, he wants our vote. And there is a question about cancelling the VP debate. Well, we knew that was coming. The American people have a right to hear the candidates' opinions on the issues--not those ugly half-truth ads that we have been hearing. I, for one, want the program to go forward. Obama can talk to an empty chair for all I care. Maverick, courage? Show up for the debate Senator McCain.
The President is slightly off.
Bush is again using fear to scare us into accepting the bailout too quickly. Keep in mind the amount asked for is 700 billion,.W
McCain has voted against regulations time and time again over his 26 year career...n
Ever go to a car dealership and be told this is the best deal I can offer and you must act today or the price will go up tomorrow? This tactic along with fear, hinging on terror, spread once again by Bush, warning that we will have total economic collapse if we don't do what we are told. A tactic used so often by this admin.
In memory of all of untruths and downright lies and twisted facts this administration has orchestrated, we should be expected to believe little they say.
There was so much confidence 2 weeks ago with Paulson and Barnanke declarations that the economy is and will be just fine followed by Bush , McCain and other old boys saying the fundamentals of our economy are sound. Now we are on the edge of economic collapse!!
The responsibility does not stop with the Reps. Thousands upon thousands of letters and calls of opposition have been made to r. and d. alike and it appears that this is no longer a government of the people for the people. One last step in Bush's effort to destroy the constitution.
Maybe the only way to have our voices heard is to hold back on paying our tax bill for a couple of quarters.
Yes. And with the car I just said no deal. Why is that so much harder?
Some people know what a depression was like and want to avoid
another, at any cost. Trouble is the problems are bigger and more
complicated than in 1929. But, will credit disolve if there is no bail out,
or will it happen in 6 months anyway?
Bush, Cheney and the CEO's of all those companies in need of my hard-earned money should be put in jail and their life savings, if they have any, be put in the bailout fund. Talk about angry and pissed off. I hope more folks can see through the BULLSHIT!!!
NO PROSECTIONS NO MONEY. --- If someone who is respected or a .org will represent the people and bring forward great lawyers to sue those that comitted this friaud and seek criminal charges and payments back to the tax payers i and i know most people will donate big time.
This law suit for the people has to be clear and NOT CONFUSING .
This is the time when Republicans Democrats Independents may rise up to protect the future of our country and show politicans and criminals they will NO longer control this country without moral compassion for the law and the great people of our land.
I know alot of very smart people write in here and others write excellent articiles . Please for all Americans please take these steps and bring forward a petion and raise money for this to go forward. Lets rise up now and show our love of country and take back what out forfathers fought so hard for and died for.
I remember watching a Frontline program where a guy who had lost his job and was basically broke stole a can of tuna and a loaf of bread from a covenience store to feed his family. He got 2or 3 years in the state penetentiary in Colorado plus probation when he got out. He had no prior record, was a first time non-violent offender. Contrast that to the Bush/Chene
The whole AIG and Fannie and Fredi just about fulfills my dream of the People owning the Banks. The only problem is the people won't get any of the trash/cash. Why can't we all just start over and give everyone the homes they live in? That could reinvigorate this whole economy by putting more trash/cash into the people's hands.
I wrote a comment and if huffington will post it then there is a spelling mistake. Prosecution was the mistake
Plenty of blame to go around here. Bushie and his cronies,Co
You want REAL ,ACTUAL, and SUBSTANTIVE CHANGE
Draft Perot/Ventura-08
"You want REAL ,ACTUAL, and SUBSTANTIVE CHANGE
Draft Perot/Ventura-08"
ROTFLMAO! Thanks, I needed a good belly laugh!
Laugh as you please but we'll see WHO is correct.
BTW-Latest news wire says the so-called agreement in principle is already falling apart. Let"s see how you belly laugh when you get the bill my friend.
I detect the overwhelming stench of the aforementioned "Big Shots." How about you?
Draft Perot/Ventura-08
This is no less than a Poison Pill clause in business. I pleade with our reps to NOT BAIL OUT anyone until the situation becomes clear. Bush and all and any of his satraps cannot be believed. This is not a real issue.
Keating 5 = S&L crisis costing taxpayers $$$
Phil Gramm, McC, etc pushed deregulation = Enron costing CA $11 billion and a gov., individuals lost their retirements and employees lost thier shirts.
1999 = Repub congress reverses regulations put in place after crash in the 1930s
Current crisis? Is it a crisis or another power grab?
These banks and mega companies pay dividends. Why aren't they stopping their dividends, leveraging that $$ and helpng bail themselves out?
Because protecting their own and their dividend is the purpose of this legislation that has been pushed by Pres BUSH and his administration. This is a repub problem and that's a fact!
Phill Gramm also pushed through the bankruptcy laws that made it impossible for homeowners or credit card debtors to walk away from debt. This was the guarantee needed to secure the mortgage securities that wall street (Goldman Sachs) was issuing to China. Saudi Arabia et al. The bailout is for those payments coming due to China, and they will want their money. If Bush defaults his money tree goes away and then he has to become fiscally responsible and operate the government with the limitation of the taxpayers.
Very good assessment!
Sorry gcw but you are incorrect. It's OUR problem now. It will not change until PEOPLE wake up to the fact that they are dealing with scum from BOTH the Republican and Democratic Parties. Money is POWER and buddy you ain't got enough.
Draft Perot/Ventura-08
OR: get your shotgun oiled up and get plenty of shells because you'll need them. AND: Take a peek at "Revelation" in the Bible about the West being in economic ruin. I'm no Bible Banger but it does make for interesting reading
Make the power brokers file for unemployment, stand in line, get rude and disrespectful treatment, get denied once or twice, then try to feed their families on $220/wk. Oh yeah, let them keep their toys, but have to make payments on them from unemployment checks. Never happen.
While all of Steve Clemons assertions are true, it should be pointed out that the world is wavering on the very edge of a cliff. Below us lies the catastrophic consequences of a failure. Yes, I wholeheartedly agree that Americans should not cave in and give the fat cats who got us into this mess, the deal of a lifetime, but it is also urgently important that a deal IS MADE. The consequences are unthinkable. If a compromise is not reached there is not a place on earth that we will be able to hide from the consequences. For Americans, it will be even worse, the financial system will be destroyed beyond repair. Chaos and anarchy will prevail. THIS IS THAT SERIOUS FOLKS.
My fear is how do we KNOW that for sure? Right now it appears that the foxes are not only guarding the hen-house, but telling the guard dog that they aren't really foxes at all - just big cats. I don't know about you, but I don't trust any of these so-called economists. I feel fairly certain we the people are being sold a bill of goods without even the right to peek inside the box.
I keep hearing these pronouncements that all of civilization will fail if we don't pour money into the pit called Wall Street. Chaos and anarchy?? You don't know much about history. If every bank in the world went bankrupt people would still be growing veggies in their back yards or south fourties. People would still be wanting those goods and would be able to wrangle some kind of bargain. Civilizations go through times when the governments, the dictators or emperors, no longer have any credit, like during the 100 years wars. People get by. Yeah you might not be able to wrangle a multi-billion boondoggle with a firm in Japan or Kuwait, but normal businesses would continue. Why would the electrical system go down? We should still have the Internet and all that provides. What will crumble is a system of commerce based on lies built upon lies and guesses based on hunches and lies. We need to get back to an economy based on people working, making a decent living and if they can buy a house it's because it is priced reasonably and they are going to live in it until they pass it on to their children, not flip it in a year to make a pile of phony money. Read a book on the Roman Empire. Our so-called civilization was built upon that pile of debris and up until recently we were doing pretty good. We just forgot to govern ourselves.
It is amazing that the President has brought up the subject of Fannie Mac and Freddie Mae 17 times since 2001 and yet gets blamed for this mess.... while the democratic led congress blocked a measure in 2006 to reform Freddie & Fannie.... and now Dodd and Grant are heading up the bailout plan.... Grant saying that he doesn't believe that Fannie & Freddie are doing anything wrong (2003) and Dodd who is the biggest receipient of funds from the companies.
Wake up America... the democrats are putting the spin on you and the whole nation....
Also now they want to bail out those who made bad business decisions (buying a house) through interest only mortgages and adjustable rate mortgages. Meaning that the 95% of the people ( including myself) who have not missed a mortgage payment , pay them back for living above theri means.
Why was these warnings ignored... because the socialistic party of the democrats wanted the right for all citizens to have a house... even though their income dictated that they coudn't afford the houses.... but through socialistic thinking the democrats ignored these warnings..
Now the spin has begun.... knowing full well the "everyone has a right to have a house" started under the Clinton administration and when reform and oversight was requested they blocked it every step of the way and now we have this
Um....it's Fannie MAE and Freddie Mac.......
If that is the only thing that you can debate then why bother responding? Try refuting what I put in the post and quit trying to be my grammar teacher...
Are you delirious. The paranoid Bush circus has been in town too long. A meaningless Iraqi war except to our dead and budget, but he enriched the militaries suppliers and contractors. Now those that played craps with our mortgages at the Wall Street casino want you to play roulette with $700 billion. The genius maworms want million $ compensations to help poor old little American us out of our dilemma, yes our dilemma, not theirs, some of them have the refuge of their own private submarines. After taking all your money once like Vegas, they cant wait to get a financial hold our futures and all the others not yet born.Spin you have been spun so much it twisted your sense of reality right out of your head.
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