(Cross posted at DitchMitchKy.com)
With the announcement of a nearly $1 trillion bailout for Wall Street banks, the disastrous effects of misguided Republican economic policies under the leadership of Mitch McConnell and George W. Bush have never been clearer than they are today. While everyone in America (except Jim Bunning) understands that the bailout is necessary, it’s disappointing, to say the least, that the situation comes as a direct result of the extreme economic policy of total deregulation that Mitch McConnell has championed as the top Republican in Congress.
With the fall elections only weeks away, it’s is imperative that Democrats like Bruce Lunsford remind voters that the tumultuous economic situation we now face is not an accident nor has it been brought about by happenstance. The situation has become too severe for Republicans to continue to suggest that the stock market is simply going through an "adjustment" or "correcting itself." This crisis has come at the hand of McConnell’s policies that have allowed banks and lenders to prey on consumers without any consequence.
Republicans of course will want to lay blame at the Democrats doorstep. However, folks know that this situation did not happen overnight , and it would be insulting to voters to suggest that the Democrats created this mess during the less than two years they’ve had control of Congress. No matter who created the situation, it’s now time to come together to prevent a total meltdown of the economy. How McConnell reacts in the coming days will be telling about what kind of Senator he is. I hope he’ll step up to the plate, admit his mistakes and work with the Democratic leadership. Unfortunately, if his last 24 years have taught us anything, we know we’re probably in for typical McConnell mudslinging and stubborn partisanship with the costs again going to American taxpayers.