Category: Politics, Rants a.k.a. Commentary || By
Asian and European stock markets cratered this morning.
The price of oil plunged, too, and Russia announced that it might begin colluding with OPEC to keep the cost artificially high by depressing supplies.
But hey, Republicans in the U.S. Senate sure taught the United Auto Workers a lesson last night!
Remember, the real problem with the economy isn't 12 years of a Republican Congress that rolled back or eliminated banking and mortgage-lending restrictions.
And it isn't a Republican president who appointed unqualified lobbyists and political hacks to oversee government regulatory agencies.
And it sure isn't a stock market that focuses on day-to-day share prices instead of long-term investment potential.
No, the real problem with the economy is that some guy from Hamtramck, Mich., is making $45,000 a year to bolt fenders onto Buicks.
And the $14 billion that GM and Chrysler want in loans --- loans, not gifts --- is actually a lot more money than the $700 billion the federal government wants to use to purchase bad mortgages from banks that created the current credit mess in the first place.
(After all, everyone knows that 14 is more than 700.)
And the fact that big auto-producing states like Michigan, Illinois, Indiana and Ohio all voted for Barack Obama last month has absolutely nothing to do with the objections that Republican senators have to helping the domestic auto industry.
No, they just care about protecting the free market.
Thus endeth the sermon. Let us pray. Seriously.
Amen brother, Amen.
Dan - December 12, 2008
Let’s be fair, there were plenty of republicans in the House and Senate who supported the plan to help the automakers. Sure there were a couple of hard-headed, extremely partisan republican nitwits who killed the plan in the Senate, but they can easily enough be targeted for defeat by those who will remember their lack of support. And despite your immense dislike for the man, President Bush is the one who pledged today that the White House will step up to the plate and do what is needed to save the companies and the jobs that are so critical.
And no, it wasn’t just 12 years of a Republican-controlled congress that was solely responsible for the collapse of the banking industry. There were many, many regulations that were implemented by the Bill Clinton’s executive department that contributed to the meltdown. There is no party that is blameless here the way you’re portraying it.
Bulldog - December 12, 2008
And of course, I’m sure it’s just coincidence that Mitch McConnell, Richard Shelby and Bob Corker — three Republican lawmakers who opposed the bailout — happen to represent areas that include plants from foreign automakers.
Forget it, Jake, it’s Chinatown.
Vince - December 12, 2008
I know, Bulldog, but I was grumpy. Don’t confuse me with facts.
Yeah, you’re right, Mr. Clinton was very eager to sacrifice American workers on the altar of free trade, too.
Webmaster - December 12, 2008
Also, I don’t have an “immense dislike” for the President.
I think he’s done a lousy job and made some really terrible appointments. But like most Americans —- I hope —- I have wanted him to succeed, with domestic and foreign policy.
I don’t hate him, but I am disappointed and frustrated with him.
Webmaster - December 12, 2008
I am kinda confused on one point though. Read that it was defeated by a 55-38 vote in the Senate. How is that not enough to pass? I didn’t read anywhere that these idiot republicans were threatening a filibuster which wold need 60 votes to pass, but maybe that was just implied. How isn’t 55 votes enough to pass legislation? Do they have to have 60 vote “supermajority” to do anything anymore?
Bulldog - December 13, 2008
Of course, the outsourcing of jobs overseas and imports free of tariffs didn’t hurt us either, right? The Bush and Reagan tariffs on imported steel equaled nothing but lip service, realized when baby Bush rescinded the tariff in 2003. The U.S. should have slammed importers with tariffs of 50 percent or more. I’m one of those who left the port right after high school many moons ago but I care a great deal what happens in my home town.
Economics 101 tells us we need to manufacture widgets. We buy widgets from other countries but where are the U.S. widgets? Usually in the repair shop.
Dahn South - December 13, 2008
Bulldog, Josh Marshall at Talking Points Memo asked the same thing:
http://www.talkingpointsmemo.com/archives/247879.php
Apparently, just the threat of a filibuster now makes the so-called Democratic “leadership” in Congress run and hide.
I think that’s called “Harry Reid is a chickensh-t.”
Webmaster - December 13, 2008
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