Monday, September 29, 2008

McCain Will Be the Bigest Loser in the Bailout Failure

McCain rode in on a white horse last week, put his campaign on hold, asked to delay the Presidential debate, and accomplished ... bupkis.

The bailout failed to pass the House. Introduced by the Republican administration, supported and improved by Democrats in the House and Senate and Republicans in the Senate, supported by Obama and McCain (who unilaterally suspended his campaign last week to "help" with the bailout's passage) - but ultimately defeated by Republicans in the House, who said they were offended by Nancy Pelosi's partisan speech earlier today.

What impact will this have on the Presidential election?

The Republican explanation for why they didn't vote is laughable. As Democratic Representative Barney Frank said, are we to believe that these Republicans sacrificed the good of nation because Pelosi hurt their feelings? Once again, Republicans show contempt for the common sense of the American people. (I'd have a little more respect for the Republicans who voted against the bailout if they explained their ideological objections, rather than blaming Pelosi.)

But I think McCain will be the biggest loser in this - so much so that, who knows, as my wife suggested, maybe Nancy Pelosi deliberately tried to rile up some Republicans so the bailout would be defeated .... She was only kidding about that (I think). But what's not a laughing matter is McCain looking ineffectual, floundering, having ridden into town to save the day and not getting enough of his Republican party members to save it. Clearly the House Republicans like neither Bush nor McCain. It's good to know I at least have that in common with them.

As for the country, the election of Obama will be the best thing that could happen to it. Not that he has all the answers - no one does - but he and the Democrats appeal to a sense of reason, of dedication to doing the right thing for the country, that the Republicans seemed to lack today in the House of Representatives.

I hope, for the good of the country, that some kind of legislation is passed in the next week to help with this crisis. I therefore hope that no Republicans who may be voting on whatever new bill comes along read this - I wouldn't want them to get angry.
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