Progressive Movement

In politics, during a moment of crisis, you are supposed to be able to act decisively, smartly, and for the good of the country. Moreover, as cynical as it sounds, you need to be able to act in a way that advances your cause or party. Missing those opportunities is unforgivable, especially when you can really deliver fundamental changes.

Such an opportunity was just missed by the Democratic leadership. I have never been more upset with Pelosi and Reid as I am right now. After the defeat of the first bailout bill, Pete DeFazio put forward a really good progressive bill that would solve the financial crisis without giving blank checks to Wall St. for bad loans and sticking the taxpayer with the bill.

But does the Dem leadership care? No, instead the Senate slapped some pork onto the original bill and passed it. Now the House, instead of voting on the truly progressive DeFazio bill, will take up the same lame bill, but now even lamer, and likely pass it.

What should have happened? After the first bill got fried, Reid should have used the opportunity to claim that the deal everyone had made was dead since the bill lost, and that the Dems were going to craft their own bill.

Then take up the DeFazio bill or something like it and pass it over Republican objections. Heck, many Republicans would vote for it anyway. Sure, put a couple of Republican policies in there, maybe even reduce the overall size of the bailout to appease the fiscal conservatives.

The protections put into such a bill, such as more regulation, stricter oversight of the Treasury Secretary, and actually helping people pay off their mortgages, rather than just buying bad credit from the banks, would get the public behind the bill.

It would be much easier to pitch to the public, and more economists would actually support it than the current debacle. The Democrats would look like heroes to the poor and the middle class and also have the benefit of looking like leaders.

Obama could have flown into town, held some meetings with Pelosi and Reid where he would push for a specific item or two to include in the bill, and then campaign on the bill. If the bill passes, Pelosi, Frank, Reid and others could give Obama credit for certain elements of the bill.

Even if the bill goes down, who would vote against it? Republicans. Yet, this bill would have much more public support. So Republicans, right before an election, would look like enemies of the public good. That fact alone would force many of them to vote for the bill.

But alas, instead the Democrats caved, pushing a bill most of the public does not want in fear that if they pushed a more progressive bill, they would get less Republican support. That shows no leadership.

Why do they care what the Republicans do? They either support the bill, in which case it passes, or they do not, in which case they alone get blamed for its failings. The Dems win in either case. But now no one wins.

Playing it so that no one wins or losses, rather than just the Dems winning, is not good for the country or the party. I would think that in the most cynical sense they would at least try to help the party. No such luck. It looks like they do not want to help the public or the party, and the Republicans are more than happy to jump on that sinking ship with them. What a sorry affair.

How much more of this can progressives take before we reject the Dems and support the Green Party? I never see this dynamic changing. ‘San Francisco liberal’ Pelosi cannot even stand up to the rich and corporate. This whole charade disgusts me and is the clearest example of why the narrative that Democrats refuse to stand and fight when the going is tough. Because they do not.

Pathetic.

Posted by parmenides on Friday, October 3rd, 2008 at 09:17 e.