We have heard the same ol’ same ol’ same ol’ out of the Democrats (and Barack Obama) since last week. They were going to pass a piece of legislation that will help “Main Street” not “Wall Street”. Or they continue to promise they will not “Give a blank check to Wall Street”.
Still, here we sit, almost a week later and the Democrats are still playing footsies with the legislation.
So what is the hold up???
They are waiting on John McCain, apparently.
The Democrats are promising that if McCain does not vote FOR their notion of what a government bailout should be, then none of the Democrats will either.
That is right, folks. The Dems are demanding that John McCain vote for their version of the bailout plan.
ABC News' George Stephanopoulos reports: If Republican presidential candidate Sen. John McCain doesn't vote for the Bush administration's $700 billion economic bailout
plan, some Republican and Democratic congressional leaders tell ABC News the
plan won't pass.
Now, why would the Democrats do that? (The Republicans don't need to vote for this- it can pass without them. Remember, they are the minority)
Well, the answer is simple enough. The Democrats need John McCain to provide them with political cover.
Here is why-
If John McCain comes out against this- his conservative base will see him as not pandering to a new form of socialist government. Government taking over for business is not the answer for many in the super conservative base.
If McCain comes out against this, a piece of legislation that Washington is desperate to pass right now- John McCain will be seen as challenging the Washington establishment that got them into this mess.
If McCain comes out against this, a piece of legislation that Wall Street is desperate to have passed, John McCain will be seen as challenging the corrupt Wall Street abusers.
Clearly, the Bush administration is desperate to get this rammed though right away and they have made no secret about doing so. The White House wants it and they want it now. Seperating himself from George Bush is a great thing for John McCain to do.
This is all well and good. McCain gets to endear himself to his conservative base that are clearly in a panic that socialism will run amok if the bailout legislation is passed. McCain is then seen as a true maverick willing to take on the corruption in Washington, Wall Street and the White House.
John McCain has made it pretty clear what he is looking for out of this piece of legislation. He wants student loans and house loans protected. He wants more oversight and more accountability. He also wants to protect the taxpayers from massive CEO payments to a failed company the taxpayers will have to pay for.
The problem the Democrats have right now is that they have to climb into bed with George Bush and the White House in order to get a rescue bill. Democrats are demanding John McCain climb into bed with them and the President also.
The President has done his part and the Democratic leadership in Congress seems to be frozen with fear. The Democrats are in charge and must show signs of working with the White House in order to get this problem fixed NOW.
All the Democrats can think about is whether or not this makes their Presidential candidate look good or bad. The economy is an afterthought.
Clearly, Barack Obama is hiding in plain site on this one. Never saying one way or the other what he would like to do. Clearly he is frozen in place also. Just waiting for someone to tell him what to vote for or against. I guess Harry Reid will get back to him when he feels like it.
As Main Street flounders, the folks in Washington are humming and hawing on what to do. The Dems do not want to give up talking points to McCain but the truth is, this is their job to handle.
The Democrats are in charge. Clearly they have no idea how to handle this crisis.
How do we know this?
Cause Senate Majority Leader Harry Reid told us so.
I think it is a riot that the Dems are demanding this of John McCain.