We Are Not Fans, generally speaking, of Speaker of the House Nancy Pelosi. In particular, we remember her untimely partisan remarks during the first vote on what ultimately became the Troubled Assets Relief Program [TARP].
But:
We Would like to Offer up Our Compliments for her leadership at yesterday’s press conference concerning a proposed additional bailout of America’s Big 3 automakers. (These automakers, as you probably know, have come to Congress asking for another $3,000,000,000 of taxpayer money, with a promise that this time, the solvency-rescue deal might possibly work.)
Following Treasury Secretary Henry Paulson’s two previous and powerfully urgent appeals for taxpayer handouts—the “bazooka versus squirt gun” incident and the recent TARP “rescue”—Congress now is finally getting wise.
“Until They Show Us the Plan,” said Speaker Pelosi at the press conference, “We cannot show them the money.”
This Congressional Recalcitrance Harkens Back to the early days of the Bush administration, of course, when President George W. Bush famously said, “Fool me once: shame on you. You fool me: we can’t get fooled again.”
You Really Ought to Look at This, which sheds a lighter humor on the currently dark economic situation:
It Is Never Clear Whether our lame-duck president has learned any such “fool me twice” lessons. But at least someone apparently has....
America Currently Has a Lame-Duck Presidency, a lame-duck Congress, and a lame balance in the Treasury. The auto industry will probably get its money—and probably it should, if only to retard our downward economic spiral for a while. Maybe by slowing things a bit, the recession heading down may be passed by the next economy recovery, going up.
And If That Next Recovery Doesn’t Come Soon-Enough, then the American auto industry, as well as the general American public, may descend into insolvency anyway.
So: the Auto Industry and We, the People, may be inherently broke. But at least for now—
We’ve Still Got Our Hands on That Three-Billion Dollars!
And We Can Say Thanks to Nancy Pelosi and Harry Reid and the rest of the American Congress for that.
But:
We Would like to Offer up Our Compliments for her leadership at yesterday’s press conference concerning a proposed additional bailout of America’s Big 3 automakers. (These automakers, as you probably know, have come to Congress asking for another $3,000,000,000 of taxpayer money, with a promise that this time, the solvency-rescue deal might possibly work.)
Following Treasury Secretary Henry Paulson’s two previous and powerfully urgent appeals for taxpayer handouts—the “bazooka versus squirt gun” incident and the recent TARP “rescue”—Congress now is finally getting wise.
“Until They Show Us the Plan,” said Speaker Pelosi at the press conference, “We cannot show them the money.”
What a Relief It Was to Hear That.
This Congressional Recalcitrance Harkens Back to the early days of the Bush administration, of course, when President George W. Bush famously said, “Fool me once: shame on you. You fool me: we can’t get fooled again.”
You Really Ought to Look at This, which sheds a lighter humor on the currently dark economic situation:
It Is Never Clear Whether our lame-duck president has learned any such “fool me twice” lessons. But at least someone apparently has....
America Currently Has a Lame-Duck Presidency, a lame-duck Congress, and a lame balance in the Treasury. The auto industry will probably get its money—and probably it should, if only to retard our downward economic spiral for a while. Maybe by slowing things a bit, the recession heading down may be passed by the next economy recovery, going up.
And If That Next Recovery Doesn’t Come Soon-Enough, then the American auto industry, as well as the general American public, may descend into insolvency anyway.
So: the Auto Industry and We, the People, may be inherently broke. But at least for now—
We’ve Still Got Our Hands on That Three-Billion Dollars!
And We Can Say Thanks to Nancy Pelosi and Harry Reid and the rest of the American Congress for that.
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