Today the Senate in all it's august glory and dismal approval ratings will attempt their version of cash for trash. That is, it's their turn to show contempt for the wishes of voters, who, by a 200 to 1 margin disapprove wasting money in continuing the financial shell game. Are solutions needed? Absolutely. Why aren't the correct solutions being offered up, those featuring a little common sense?
What Congress forgets is that people on the Hill work for us. You and me. Nothing infuriates me more than to hear an elected official demurr to voting his constituent's wishes and instead, voting for "what he knows is right". Usually, when you check that person's campaign contribution list, you see how he arrived at his decision, public be damned.
The House stunned the MSM and Wall St. Monday by failing to deliver the package. Various excuses were offered, like Nancy's speech, McCain and assorted horses**t. What wasn't said was that enough Members plainly saw that the Emperor had no clothes and their chances of reelection would tank. A few brave pundits attempted to make that comment on CNBC and of all places, Fixed Noise, only to be cut off or shouted down. Remember, the media parents also have a stake in the giveaway.
So it's with this stacked deck in play that today the Senate will vote on their "finely crafted" bill to extend into overtime a dying game. Disregarding the fact that no noted economists have been called to publicly testify on the bill, disregarding that even the Budget Office says the bill's passage will have little long term effect, without addressing the problems that created this financial stew.
OK. Now finally let's have some meat. The solution begins from the bottom up. Washington has to accept that Reaganism is dead. Ditto "trickle down economics". The current income gap has historically portended violent revolution in the past and nothing's changed that I know of.
Like I said yesterday, if liquidity's the problem, charter a national people's bank. (Not my idea, but a fellow Cossack's blog is where I first saw it) Toxic paper can be dealt with ala the Swedish solution. As home prices have fallen, so should mortgage valuation. It's the only way to stop "jingle mail" and walkaways. Number one cause of foreclosure? Medical debts. It's time to dust off and implement John Conyer's single payer healthcare bill. Put that in the package. Implement living wages tied to the federal poverty report, indexed annually to inflation.
Oh yes, the wars have to end. Now, today. Load everyone onto the airplanes, bring 'em home. We can't afford war anymore, ever again.
Of course these are common sense solutions that would cost billions to implement. But somehow, I don't think it would cost as much as the current deadend proposals, do you?