Home » Congress » Reid, Pelosi and Schumer Fail on Bailout for Economy

Reid, Pelosi and Schumer Fail on Bailout for Economy

Harry the-war-is-lost Reid is trying to shift blame for his failure to move the “bailout” proposal forward. That might work for people who don’t realize it’s the Democrats holding the majority in both the House and Senate; Reid and Pelosi can pass whatever pork bailout bill they want, and the President will surely sign it. They don’t need any Republicans to do so. If a bill isn’t passed, it’s because the Democrats don’t want it passed. Democrats are the majority, they’re responsible for passing the bill and can do so at any time. What Reid meant was he doesn’t want to pass the bill right now, but he’s not the only blame-shifter.

“We need to get the president to get the Republican House in order,” Sen. Charles Schumer, D-N.Y., added while on the Senate floor. “Without Republican cooperation, we cannot pass this bill.”

Totally false, plain and simple. Democrats hold majorities in both houses, they don’t need any Republican support to pass this bill, other than the President (who will support it). The only possibility (and a remote one) is a possible Senate filibuster (Pelosi can pass it whenever she wants), which won’t happen. Even if it does, they’d only need a handful of fiscally irresponsible Republicans to go along (which they’d get).

Why won’t Democrats act? What are they waiting for? Could it be they’re posturing for political reasons? Or do Reid/Pelosi simply don’t know they hold the majority, and don’t realize they can pass anything they want? Is it possible Reid/Pelosi/Schumer know the majority of Americans are against the bailout, and want to spread the blame around come November?

Schumer/Read/Pelosi don’t need Republicans to pass the bill, they need them for cover for the upcoming election (so in a sense, Schumer is right, they can’t pass the bill without the cover of Republicans for their pork — they can pass it without Republicans votes, but they’re hoping the blame game works. Politics as usual).

It’s interesting as Obama tries to paint McCain as agreeing with Bush, it’s Obama and the Democrats who walk in lockstep with the President to give $700 Billion of your money to Wall Street (tax and spend yielding to tax and giveaway). Is that what you want? Do you agree with Obama in giving handouts of $700 billion of your money to failing companies? Is Obama correct in taking your money and giving it to corporations who bungled their management? If you’re paying your mortgage on time, do you agree with Obama those exercising fiscal irresponsibility should be rewarded?

It’s McCain and a minority of Republicans who want something different (along with most of the American people). Will Democrats team up with the President to ram a pork bill through? Or will sanity reign and a reasonable approach (loans instead of bailouts and rewards which leave the taxpayer footing the bill) supported by others have a chance?

We’ll see what happens, but don’t buy the lie Reid and Pelosi need any Republicans to go along. They do not as they’re the majority (even if they fail to act like it). Since Obama aligns with Reid 95% of the time, is this the leadership the country looks forward to in an Obama administration? Do you want politics put first? Or country first?

In Washington, it’s a showdown between the representatives of Wall Street and the representatives of Main Street. But have you noticed that the old partisan alliances are reversed? It’s the Democrats who are now the Wall Street Party. And Republicans — with the conspicuous exception of President Bush — are now the Main Street Party.

Consider: President Bush proposed the $700 billion plan; after days of hiding behind the Secretary of Goldman Sachs, Henry Paulson, Bush finally emerged from the sidelines Wednesday night to tout the plan in prime time. Just this morning, he spoke again in favor of his plan, while again taking no questions from pesky reporters.

But the Congressional Democrats, who mostly despise Bush, are also mostly for the Bush plan. Sure, they made some cosmetic changes in the bailout proposal, but they have never wavered in their basic endorsement.

So who’s against the plan? It’s Congressional Republicans who are getting in the way. They are the heroes of the hour. Although outnumbered, these brave Capitol Hill GOPers have stopped official Washington in its tracks.

Why? Because the Democratic majority, supporting the bailout, doesn’t actually dare to vote for it unless they know that most Republicans will vote for it, too. And that’s because the Democrats fear that this bailout legislation is deeply unpopular with the country. So the only way that Democrats can vote for the bill and be safe this November is if Republicans also put their names on the legislative dotted line. Not a profile in courage for Democrats, of course, but it’s smart practical politics for them to demand some ‘cover.’

Reid/Pelosi know they can pass the bill anytime they want. They’re hoping first nobody realizes that, and second, they can stall long enough to cover their collective #!&$ for a bill the American people don’t want.

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1 Comment

  1. Obama is looking bad. Without his use of an
    off-camera teleprompter to read from he gets confused about whom he is talking to. You can tell when he is reading because he doesn’t look into the camera. McCain hinted at a very interesting place to save money. They are called NGO’s, Non-Governmental Organizations, the plethora of “not for profits” that administer Federal Monies and programs. Jessie Jackson’s faith based NGO would be an example of a place to look for waste and cronyism. I live in Oregon. I am currently battling a NGO, “not for profit”, Community Sharing in Cottage Grove, Oregon, Nancy Glines Executive Director. They were using Federal housing monies that were given to the State of Oregon, passed to Lane County, then sub-granted to Community Sharing. We had a problem with a caseworker not providing the services for which they were invoicing the Federal government. This is fraud. I complained to Faye Stewart, Lane County Commissioner. Not only did he do nothing to correct the problem but he and the other Lane County Commissioners held a sham administrative hearing to cover-up the fraudulent practices of Community Sharing of Cottage Grove Oregon. I later found out that Faye Stewart was a past board member of Community Sharing and had funded many other “not for profits” in which Nancy Glines is associated. I asked the State of Oregon Department of Housing and Community Services to investigate. They told me that the County Commissioners would investigate themselves. Do you see the problem? A local politician funnels money to a NGO that he is involved with and is in charge of investigating any complaints concerning the NGO. Who oversees if salaries are proper? Who oversees if suppliers are legitimate? In this case who does one complain to when Community Sharing, after receiving funds from Faye Stewart and the Lane County Commissioners, “donates” money and services to Faye Stewart’s “Bohemian Mining Foundation”? Faye Stewart lists on his Lane County web page that he has set up many Foundations. He and his family are connected with the “Community Foundation of Cottage Grove” which is a part of the “Community Foundation of Oregon”. Faye Stewart has relatives on the CFO board and about a million dollars of Stewart family money in that foundation. The “Community Foundation” scheme holds money in a “pooled investment fund”. All participants receive the benefit of being part of a nearly one BILLION dollar pooled investment fund. The fund is composed of “Family money”, such as the Stewart money, regional community foundation money, such as the “Community Foundation of Cottage Grove”, and funds from over 200 “not for profits”, along with various State of Oregon funds. So we have a tax shelter that has amassed almost ONE BILLION dollars of tax-free funds that “grants” money to NGO’s that “donate” to a local politician’s “foundation”. State and Federal money is co-mingled in a pooled investment fund with no oversight. This group is currently securing Federal Housing money in a scheme called “10 year plan to end homelessness” cloned in over 200 counties across the U. S. with no oversight. I look forward to Mr. McCain looking into this massive boondoggle whether he is the next President or if he remains in Congress.

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