Kuma's Lair

Congress and the pending bail out…

September 23rd, 2008 by Scott Pettigrew

The talk radio maggots are going NUTS this morning because Congress might not pass legislation before the week’s end to fund a $700 BILLION bail out of the huge investment banks that have started to fail, putting our economy in a “crisis mode.”  

I say, “Good! Let Congress take its sweet time!  Take all the time you want…but get it RIGHT.”

I firmly believe that Congress does its absolute best work when it works slowly, ponderously, and deliberately.  Our Founding Fathers knew this, and set up checks and balances to ensure that this was the norm.  The entire Senate vs. House of Representatives structure is designed around this very purpose – work so that the peoples’ interest (represented by the possibility of relatively quick turnover in the House) is equally represented alongside those who might have more lingering political interest (as represented by the longer terms of office in the Senate).   That the two houses of Congress are having a difference of opinion about the currently-proposed plan of action is the top sign that they’re working the way they should be. 

Now, admittedly, I’m no economist.  However, neither is your average Senator or Representative.  And although they have better resources to dedicate to understanding any proposal the Government throws their way, it is still prudent to take a pause to carefully consider any move proposed to be undertaken.  In my opinion, the current situation is not one that throwing a bale of greenbacks at is going to fix.  In fact, I think that a haphazard plan might make our economic situation worse by further burdening the American taxpayer.

 
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