Bailout Fallout
Well the mostly-stalwart Republicans blew up the UAW/Democrat payback-o-rama that we knew as the Big Three Bailout last night and there are still chunks of it splatting around Washington even now. This Politico story captures most of the Sturm und Drang of last night but doesn’t exactly go out of its way to find any flattering Republican quotes.
Nancy Pelosi managed to stretch the word “bipartisan” nearly to its breaking point. Of course the question here is not Republican vs Democrat but Totalitarian vs Freedom and the “bipartisan” screen is irrelevant to the question, but it’s the club she has so she’s going to swing it.
Meanwhile, Senator McConnell is not exactly showering himself with conservative moderately-free market glory either. As I said last night, we came very close to having even conservative Republicans signing off on the bailout, with only the UAW’s greed standing between success and more of our money getting tossed down the Detroit hole. What happened last night was great, but the GOP can still be rolled becasue they’re not standing on a solid, principled foundation yet.
The President may end up making the whole thing moot by dipping into the seemingly bottomless TARP fund to get the money to throw at Detroit. I do have a pretty constant love/hate thing with President Bush. He’s a good man and, all in all, a good President, but he’s never been a conservative for a single day he’s been in office.
Other Posts of Interest:
- The Big Three Bailout is Dead, Hallelujah!
- Senators, Please Think! Kill the Big Three Bailout Bill.
- The Bailout is Now A Trillion Dollars More Expensive than World War II. The Madness Must Stop
Category: Our New Democratic Overlords, President George Bush, The Economy and Your Money
