The Eclectic One

…Because labels are a poor substitute for thinking

Can’t congress see a power grab?

Posted by Bill Nance on September 26, 2008

Why can’t congress pull its collective head out of its rectum long enough to see the main problem with the proposed Bush bailout plan?

It’s not just the money. (though I question how much and where it will be put to use) It’s not the need for help to main street, it’s not the need for reform of bankruptcy laws, it’s not the need to have judges stop foreclosure proceedings.

These last in particular are side issues and Bush, in one of his few good decisions, has said he’d veto legislation which adds these things to a bailout plan. The primary objection to the plan is, and should be, that it’s a blatant power grab on the part of the executive branch.

Congress, with both parties participating, has spent the last eight years ceding its constitutional power to the executive branch. First with a blank check to prosecute an endless “war on terror,” which John Edwards said quite correctly is “not a policy it’s a bumper sticker,” then on the Patriot Act, then on a free pass for torture, then on simply irresponsible spending.

Now it is proceeding to do more of the same, rather than set up it’s own congress-directed commission to deal with the Wall Street meltdown. The precedents set over the last eight years will haunt this country for decades under the best of circumstances. It’s time for congress to make a stand NOW, to stop the rise of an Imperial presidency.

NO president should be given direct authority with $1 trillion. Let congress create an entirely new commission to address the issue. The executive can participate by having the Treasury Secretary head the commission.

But congress needs to “JUST SAY NO” to bailout by presidential edict.

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2 Responses to “Can’t congress see a power grab?”

  1. […] said it at the time and so did others. The bailout passed by congress was a steaming pile of […]

  2. […] TARP was a bad law. It was a stupid idea to give the Bushies, the most incompetent and corrupt administration since Grant, virtual Carte Blanche with $700 billion and many, including yours truly,  said so at the time. […]

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