Earlier this week I said that President Bush had failed to make the direct and personal appeal needed to convince the folks at home that they should support the Paulson plan. In light of last night's activities, where the talks on the plan at the White House with the president in attendance ended in acrimony with nothing being decided, it's clear that I gave the president too much credit.
Let's state this as directly as possible: the president of the United States was dissed last night by the House GOP. If this were a parliamentary system of government, what happpened last night might have been considered the equivalent of a no confidence vote, or Bush would have been forced to resign as head of his party and been replaced by someone else.
But the GOp's nominal leader at the moment, John McCain, was also dissed. After all, he was coming to Washington to make a deal happen...and the House GOP didn't just say no; it said Hell No!
The dissed the American people
Inaction is a choice that will destroy us. We need a plan by today.
Nobody is going to stay in this market over the weekend. Market will plummet this morning. Retirements and children's college educations will be lost (if they haven't already gone down). Trillions in wealth lost and trillions in debt incurred in this country over the past couple years . . . and accelerating.
Asset deflation will get worse. More jobs are being lost as they argue.
This will go down as the idiot Presidency AND idiot Congress.
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