Monday, September 29, 2008

"None of us is an Island": Mixed reactions to the economic crisis of our time

So I’m at the gym, pumping some iron, in hopes that I will ultimately “get big.” I’m trying to show off to the pretty girl behind me, and then I pull a muscle. Workout ends prematurely; I go home.


I walk into the room and pull up my home page (The New York Times), and what is the first thing I see? 


BAILOUT FAILS; STOCKS PLUNGE

Dow Loses 777 Points After Vote

House Rejects Package, 228-205


So I’m all like, wtf? I may be naive, but I though for sure that the bailout would pass. Why? I don’t know, but it may have had something to do with how screwed we would be if it didn’t. 


Now we find ourselves in a bit of a conundrum. Many people seemed to think that the bailout was essential to the survival of our economy, myself included. But in the spirit of stoicism and all things American, lets get down to business and show the economy who’s boss, mmkay? Mmkay.


Firstly, I’d like to thank the 95 democratic representatives who opposed the bill. Way to follow party lines, people. On the plus side, people who have lost everything don’t need to worry about budgeting anymore. 


Probably one of the most disappointing parts to this scenario is that I thought it would be one vote above the partisanship and bureaucracy that normally take place. Sadly I was wrong. Until the political mentality or public opinion of our government is fundamentally altered, this vote will not bring us any closer to restoration than we are right now.


All is not lost. Democratic majority leader Steny Hoyer and Republican minority leader John Boehner saw eye to eye on this issue, an event that rarely, if ever, occurs. Commenting on the American economy, Hoyer stated that “none of us is an island.”


Lastly, lets not forget that there are strong willed, talented people running our government. Treasury Secretary Henry Paulson may or may not be the white knight that saves the American economy, but people do not have to complicate his job by attacking him before he even gets started. This guy was the head of Goldman Sachs before becoming Treasury Secretary. He is an impressive and highly capable individual, one who is ideal for the job. 


It is no secret that I am one crazed, passionate, blazing idealist. I have profound faith in my government. Based on the shocking outcome of this vote, I assume that many people will lose what little faith in the government that they have. I, however, still believe in the ability of the U.S. government, but at this point I may not have a reason to do so. 

3 comments:

Jasmine said...

Word. I was under the impression that partisan support aside, this was something that the US had no choice but to do: get bailed out. Apparently I too am missing something (like the fact that there are other options).

Maybe I'm wrong here, but the conventional Dem stance on something like this would be to support the bailout, no? Repubs tend to be the "dont let the gov touch business, let those that messed up take the fall" folks. I guess since our current administration can't be defined as very "republican" at all, Dems will even oppose a classically dem stance on things to make a point. OR maybe the bailout plan just sucks. It is a little scary to me that so much power would be placed into the Treasury Secretary's hands.

But who knows.

p.s. dont mind my comments, im way more comfortable conversing with you than say, andrew, which would be a conversational annihilation. ;) Plus, you're in my blog group so I read yours more often.

Lucas said...

I think the failure of the bailout has more to do with the "Blue Dogs," the group of fiscally conservative democrats. The opposition, to my understanding, wasn't so much to make a point but to determine if the bailout would be the most appropriate course of action, like you said.

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