At some point you must concede...
This will be a short post. Will be atypical but wanted everyone to know some interesting information about tonight’s Senate approval vote.
I wanted the original Paulson, 3-page bailout to pass. I understood it. I did not like the idea of it – but I knew it needed to happen. Two days later, the plan was 10 or 15 pages. Then it was over 100 pages. I have read them all (yes, I am that boring). Now, I just read the 451 page plan.
It is, well, shocking. Our congressional leaders should be ashamed, embarrassed, and they should feel the need to retire from public life. We need clear thinking and resolute leadership. But….well, you decide.
It is so filled with totally unrelated provisions, so filled with bizarre pet projects, so completely rife with selfish pandering that it is really hard to read. The stench of self aggrandizing politics is on every page.
There is a provision for the “Extension of economic development credit for American Samoa.”
There is the “Extension of mine rescue team training credit.”
There is the “Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.”
We research real solutions to real problems. We try to formulate thoughtful advice for our clients. An overly emotional opinion column is frankly atypical of this economics format. But we just made it through 451 pages and had to share.
Readers of this column will know how highly I regard Mark Twain. Since I am not sure what to say here, I will use his words to fill my shortcomings. In his words,
‘The political and commercial morals of the United States are not merely food for laughter, they are an entire banquet.’
Maybe some things never change. Note to the House of Representatives: Pass it anyway; I am tired of tilting at the windmills.
