Kicking Over My Traces

Titanic Sinks Buy From Art.com

“We are going to get a package passed,” President Bush says. “We will rise to the occasion.”

I feel all warm and fuzzy now. Don’t you?

Yesterday’s White House summit is behind us. Today we’ll settle on a deal.

From various sources comes the story that bailout legislation is stalled because of foot-dragging by House Republicans.

But Republicans are a minority in the House of Representatives.

Here is Byron York with a question about this legislative oddity:

When it comes to the bailout plans, from a Democratic perspective: If it is House Republicans who are the problem, who cares what they think? Isn’t it a distinguishing characteristic of the House that the majority can pretty much do what it wants? It’s the Senate where the minority can make lots of trouble and slow down the process. In the House, we have seen Nancy Pelosi and her top lieutenants steamroll over Republican objections time and again in all sorts of legislative matters. Before Pelosi, we saw a Republican majority do similar things. So if Pelosi wants the bailout to happen, and House Democrats are united behind her, why don’t we have a bill?

The answer is that Madame Speaker wants to cover her hiney with enough Republican votes that she’ll keep her head of the bailout fails.

Say it’s House Minority Leader John Boehner’s fault.

It ain’t so.

Madame Speaker is at fault.

Meantime, what’s happening on the floor of the House of Representatives?

Texas Rep. John Culberson reports that Speaker Pelosi (D-CA) found time in the House’s schedule to bring a permanent tax increase to a vote:

On the House floor voting against Pelosi’s 60 bill permanent tax increases to “pay for” temp tax cuts. Tax cuts pay for themselves!

Yeah, that’s what skittish consumers and reeling businesses need right now: a tax increase.

Nancy Pelosi has been a huge disaster as Speaker of the House.

Developing, Rep. Culberson via Twitter:

Heard tentative agreement btw McCain, WHouse, Sen and House Dems – sounds like scaled back Paulson bailout paid for by our kids – not good

Tags: Business, credit crisis, financial crisis, Politics

This entry was posted on Friday, September 26th, 2008 at 7:54 am +0000 GMT and is filed under Business, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.