Congress and the Bailout’s Frankenstein Fix

October 1, 2008 | Filed Under Budget, Congress, Constitution, Economy/Finances, Ken Marrero, News, Taxes |

One of the more memorable phrases from recent political history is “DOA”. A politician announced, during a recent session of Congress, there was no need to even bother sending the bill over for a vote because it was “DOA”, Dead on Arrival. The phrase immediately made its way into the modern political lexicon as even a cursory Google search reveals.

Congress generally knows when a bill is destined to fail due to internal opposition. For instance, the GOP understood on the front end that Democrats would abandon all pretense of constitutional integrity to prevent even a vote on several judicial nominees a few years ago. The President’s nominees were DOA. DOA legislation becomes more interesting, however, when the pressure to kill the bill comes, not from the opposition Party, but from the American people.

The Dubai Ports deal, The Immigration Reform Bill and even Harriet Meiers nomination to the Supreme Court were all killed by “We the People”; not Harry Reid or Mitch McConnell. Thankfully, when their best revival efforts failed, Congressional Doctors bowed to the inevitable, pulled the plug and let the bills die with dignity.

Like E.F. Hutton, when the People speak, Congress usually listens. Which makes the Congressional response to the Bailout Package even more puzzling. Public opposition is running at near 80%! Americans may disagree on what needs doing, but they are clearly and almost unanimously agreed a Bailout isn’t the solution. It seemed as if Congress listened. Despite arm twisting and a surprising level of Congressional support for a Bailout, in a vote that was too close, the Bailout was defeated and the patient flatlined. But if you thought that was the end of the matter, you’d be wrong!

It appears Congress, whether moved by arrogance, hubris or another inexplicable motive has chosen not to listen to the people. Worse, it appears they may be abandoning Constitutional restrictions to do. Unwilling to permit the $700 billion monster they created to solve the problem remain dead, Congress is trying to raise it from the dead like the fictional Frankenstein.

The straight up or down vote failed and there isn’t enough electricity to resurrect the monster in that fashion. So they are trying another well known and highly effective tactic from the Congressional medical bag to revive the patient, attach the dead bill to a live bill that everyone likes and use the life force from the popular bill to revive the chances of the dead one.

Quinn Hillyer over at The American Spectator Blog is reporting that the Senate is trying to do exactly this! Quinn also notes such a tactic is unconstitutional as bills such as the Bailout need to originate in the House and not the Senate. Hopefully, should such a legislative abomination be presented in the Senate, it will be defeated. Should it be passed, I echo Quinn’s hope that even more House members will vote against this bill than did against the last one.

I’m not sure what it is going to take for Congress to get the message that America doesn’t want a Bailout solution. Congress can propose a different fix or they can let the Market correct itself. But the Bailout idea has been called as DOA and it needs to be left alone. For good measure, I encourage each of you to call or write your Congressmen and add a “Do Not Resuscitate!” note to the patient’s chart. The wishes of the family, the People, must be honored in this matter.

Blue Collar Muse

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