A Philosopher's Blog

Bailout Blues

Posted in Politics by Michael LaBossiere on September 30, 2008

In a somewhat surprising move, the House voted against the bailout bill. This has had severe consequences. First, it caused an additional fall on the stock market. Second, it harmed John McCain’s campaign. McCain had tried to use the economic situation as a boost, but this attempt backfired on him when his fellow Republicans lead the way to defeat the bill.

Now that the bill has stalled, the politicians and pundits are working to place the blame. Naturally, the Democrats and Republicans are accusing each other of playing politics and chastising each other for not being truly bipartisan. Of course, for one party to accuse the other of playing politics is like the pitcher accusing the batter of playing baseball. The accusation is true, but hardly an effective criticism.

Both parties are right to chastise each other for playing politics and not working together to solve the problem. Of course, that is the nature of politics. In fact, the righteous criticisms about the failure to be bipartisan are themselves calculated political moves designed to score political points. After all, they are delivered to the press and played to the public. That is simply politics as usual.

I suspect the bailout will eventually come through, but both parties are not done trying to milk it for political advantages.

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One Response

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  1. Anonymous said, on September 30, 2008 at 10:33 am

    Bailout Bill

    A simple solution – stop playing politics regarding the bailout and give the American public an incentive.

    Example provide for an income tax credit of $2,500 for every household with an income of $150,000 or less. For the unemployed send them a check for $2,500 or extend unemployment benefits for 26 weeks.

    If our government can spend 700B + of the majority of the taxpayer’s money on Wall Street it should be able to help out Main Street.

    It will be a win-win for the majority for Dem and Rep voters.

    Think about


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