Jophiel wrote:
gbaji wrote:
They know that the bill as written is very unpopular.
Rasmussen wrote:
As Congress prepares to vote on a proposed economic rescue plan, opposition to the measure has declined significantly. A Rasmussen Reports national telephone survey conducted Sunday found that 33% of Likely Voters now favor the plan while 32% are opposed and 35% are not sure.
For proponents of the legislation, that’s a significant improvement. On Friday, just 24% of voters had supported the plan while 50% were opposed. Supporters of the legislation argue the plan to buy up bad mortgage debt from private firms is the surest way to free up credit for all Americans.
Ah. So McCain was clearly right to stop the first version of the Bill and insist on something better, right?
How much you want to bet that by tomorrow, those numbers will show even more people supporting passage of the latest version of the bill? It's really meaningless. We can't say whether those numbers are changing because more people support each new version of the bill more than the last one, or if they're just more desperate for "any" bill that might fix things.
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While voters are unsure about the particular plan agreed to by Congress and the Administration, 49% say it’s Very Important that some kind of plan be implemented. Another 29% say it’s Somewhat Important to do so.
Yup. Expect those numbers to shift over time as well. Again. It doesn't tell us how voters will feel about this a month from now. It easy to get those kind of poll results when you're right in the middle of a crisis. It's the "fast sell" writ large. The unpopularity level of anything potentially costing taxpayers 700 Billion dollars will have an effect come election day though. If they think they got shafted because of said fast sell, they'll be out for blood, and the Dems didn't want it to be too clear that they were the prime architects of the shaft if that should happen.
You can quote current poll numbers all you want. The fact that the Dems couldn't/wouldn't pass this all on their own speaks volumes about how they feel it would have been perceived.
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Sitting on this and letting it get worse will be poison to the Republicans. They already have a 700+ drop in the Dow pinned to them.
Why on them? Don't the Dems have a majority in both houses? How on earth can the Republicans be at fault for this bill failing to pass? If the Dems really felt it was as politically important for this bill to pass as you seem to think, they'd have passed it. Clearly, the fear that taking the sole affirmative position on this bailout would cost them more than it would help them was the key factor here.
The behavior of the House Democrats is basically the best evidence that your assertion is incorrect. If you were right, they would have simply passed the bill and taken credit for saving the economy. Clearly, they don't think that the pro's outweigh the con's of doing that. Which means that even the Dems believe that the public will view taking more time (even at the expense of Wall Street) to pass a bill that both sides can agree on more positively than one party driving the issue on their own. Or, they're just afraid to take a position at all, which is entirely possible.
Either case puts the power of the situation in the GOP's hands. They now know that the Dems wont pass a bill without them, so they can remove any poison pills that the Dems want to stick in. Better yet, down the line, the Republicans can claim credit for making the plan work and saving the taxpayers money, while the Dems will still look like the party that just wanted to throw good money after bad and spend their way out of the problem.
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Perhaps the most pathetic thing I've heard today was Boehner saying that the GOP lost its votes because Pelosi's speech was "too partisan". Excellent of the House Republicans to drag out the worst financial crisis in recent history because their poor widdle feeling were hurt by a speech. My 401(k) thanks them for having fragile hearts of glass that crack when Pelosi says the wrong words
Yeah. His specific words weren't too brilliant IMO. But it fits into the main objective here. They want to get a true bi-partisan solution. It's a bit of rhetoric, but the play by the GOP is that the Dems attempted to ram a bad bill through while playing on the publics fear. That's what the whole meeting collapse bit on Friday was about. This is just the next step in that process. You show that even know, in the midst of an economic crisis, the Democrats are still trying to inject partisan language into the issue. Sure. He's basically trying to score points by bashing Pelosi for trying to score points, but that's politics, right?
The main issue is that the GOP really does have the high hand here and they know it. The Dems were trying to push their ideal bill through before anyone could stop to think. They got caught with their hands in the cookie jar and now they're having to pay the piper on it. The US economy will survive long enough for us to implement the right solution and both parties apparently do believe that the voters will care more about that solution being "right" and more importantly "bi-partisan" (so both parties take equal blame really) than they will about it coming quickly.
IMO, the political cost of being perceived as the party that's holding up the bill will be more than outweighed by the benefit of being perceived as the party that made sure that the bill was as well made as possible.
Edited, Sep 29th 2008 5:06pm by gbaji