Sir! We have a plan!
UPDATE: Looks like the House Republicans finally have something to say and are holding up any deal that exists to be done. I figured these guys would be treated as if they'd gone off the reservation for standing up to the bailout, but apparently John McCain joined them in spirit, using the old "Main Street folks will suffer" line. I know how I feel about the prospects of the federal government bailing out these companies, and I know there's more than a few political leaders who shudder even thinking about enacting that kind of legislation, but I never guessed it would amount to anything. Consider my political radar completely off the mark — but this is coming from someone who thinks John McCain has a very good chance of becoming the next President of the United States. Anywho, enjoy my earlier ramblings and the "Strangelove" clip.
So the cream of our political crop has done something today in regards to the "serious economic crisis" facing the United States.
If anyone can explain to me what actually got accomplished today, I'd appreciate it.
Here's a list of verbage I've heard or seen for what's been achieved:
- A "tentative accord"
- A "tentative meltdown deal"
- An "agreement in principle"
- A "rough outline"
- A "framework"
- A "rescue plan"
Still confused? The bailout package, whatever it ends up being labeled, is the new Patriot Act. Everyone will vote for it without really reading it as thoroughly as they should. It will be heralded as an unquestionable piece of legislation that only a communist would dare think about pondering its worth. Then in a few months when the obvious flaws of the plan come to light, half the politicians involved will renounce it a la voting for the authorization of force in Iraq — the administration duped us, the intel was bad, everyone else did it, etc.
So how should you proceed in this new political landscape while the US economy remains in turmoil? The photo at the top of this post should give you an idea:
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