The bailout bill just failed in the House, and Republican John Boehner blamed Democratic Speaker Nancy Pelosi, said she alienated some people whose votes she needed for the bill to pass. What she said, even though true, was probably ill-timed:
"...the cost of the bailout is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies -- policies built on budgetary recklessness, on an anything-goes mentality, with no regulation, no supervision, and no discipline in the system."
So a few Republicans got their feelings hurt and decided to punish the country? Where are the grown-ups? The only upside I see to this mess is that it makes the Republicans look even worse than they were looking. By a 2 to 1 margin, Americans were blaming Republicans for this mess, and now they will get blamed for blocking the bail-out bill. Way to go, guys! McCain immediately blamed Obama. So much for McCain's maverick move to rally his Republican cohorts!
The stock market just closed lower than it's closed in over two years. The Dow Jones industrials closed 777.68 points lower -- a 6.97% drop, the biggest loss since 2001. And politicians are spinning so fast to try to make the other side look bad it's making my own head hurt. I've got to take a break.
Monday, September 29, 2008
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