Thursday, October 2, 2008

Paulson Plan Gains Pounds

What started out as a 3 page outline from Treasury Secretary Hank Paulson has now swollen to 450 pages of inelegant legislation. Even the 40 page "crap sandwich" that went down to defeat Monday in the House is unrecognizable after spending time on the Senate side of the building. US Senators have thousands of staffers. It looks like most of them got involved in splashing gallons of condiments on the sandwich.

We are now told that this "improves" the bill and makes it more possible to passage. Well, pork payoffs to various congressmen make bad bills more prone to passing, that's true. But don't embarrass yourself by pretending it is now improved. It's a disaster and growing. And, stop calling it a $700 Billion package. The Senate added $150 Billion to it. At least be honest enough to call this mess an $850 Billion package.
As for the Presidential politics of it all... there's no difference between the positions of Obama and McCain. McCain had a chance to separate and soar. He failed.