Thursday, September 18, 2008

Politics: Way to Go, Harry

In a posting today on ABC News' Political Radar blog, Z.Byron Wolf quotes Senate Majority Leader Harry Reid on the financial-industry crisis:

No one knows what to do. We are in new territory here. This is a different game. We're not here playing soccer, basketball or football, this is a new game and we're going to have to figure out how to do it.

Way to go, Harry. That's the ticket to inspiring confidence in the Democratic Party's ability to deal with this mess. I'm sure all the Democratic candidates running for Congress and the Senate appreciate your candor.

Oh, wait. It gets better. The Senate Democrats do have a strategy, after all. Wolf writes:

In the short run, Democrats are trying to push through a second stimulus package with funding for infrastructure improvements, renewable energy tax credits and other things. But all agree it will be up to the next President and Congress to do any re-regulation.
That's it, just kick that can down the road.

Don't think I'm letting the Republicans off. They helped create this mess when Phil Gramm (you know, John McCain's chief economic advisor) stuck a financial-services deregulation amendment into must-pass legislation back in 1999.

One would hope Harry Reid would recognize that now is the perfect opportunity to overturn that pernicious thing, but no.

Does anyone still wonder why I look at our two political parties and just shake my head?

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