Senate Hands Pelosi Her Next Dow-Tanking Excuse
You can just see her sequel vitriolicly partisan floor speech warming up, cantcha?:
While the Senate will pass its version of the rescue bill with more than seventy votes according to Senate sources [It passed 75-24 - what are the odds the missing vote was the junior senator from Illinois?], senators have taken the partisan bickering over the rescue bill and added a stalled disagreement over a separate issue — “tax extenders,” or extending various tax relief provisions that are due to expire — into the mix…
But some conservative Democrats have expressed serious concerns about the fact that extending these tax cuts is not being paid for in the budget. Adding the provision may attract House Republicans, but it could alienate these fiscally-conscious Democrats, causing them to abandon the one hundred forty House Democrats who voted for the bill to join the ninety five who voted against it…
The implication: not only will Boehner need to provide the entire thirteen-vote margin that the bill lost by on Monday, but also that the addition of the unpaid-for “tax extenders” could cause up to seventeen Democrats who voted for the bill Monday to walk. If not more.
Crazy Nancy's remarks write themselves, don't they? "Our Republican colleagues called repeatedly for a 'clean' Wall Street 'rescue' bill. I tried to pass one on Monday to save the American economy and all the working families that are depending on it, but the Republicans in this House stood in the way and sent the stock market plummeting. Now their counterparts in the Senate pass a version of the same bill that they have crammed full of the very same sort of giveaways to the wealthy that got us into this financial crisis in the first place. As Speaker of this House, I cannot in good conscious, etc., etc., etc."
Oh, but have no fear, there were quite a few "sweeteners" lipoinjected into the Senate "rescue" bill for Dems as well. Disincentives for House Republican support, to be sure - though not too much for Senator "Porkinator" to nonetheless vote for.
So here's John Boehner's mission, should he choose to accept it:
1) Flip thirteen members of his caucus who voted "nay" on Monday despite the bill's identical unpopular, statist core and now all the swine flesh Christmas treed onto it;
2) Flip an additional seventeen more on the same grounds with only the modest tax relief provisions as mitigation;
3) Be prepared for Crazy Nancy to flip thirty-ONE more of her caucus to torpedo the bill AGAIN, wipe out a trillion MORE dollars of private sector wealth, and blame the Republicans for it AGAIN.
Aren't you glad you're not John Boehner?
UPDATE: BTW, after the Senate passed this "economy-saving" "rescue" bill last night, the Dow immediately....plunged over three hundred points at this morning's opening bell. Raising the rather obvious next question: What if a Wall Street bailout gets passed, and, like each of its piecemeal predecessors over the past month, it doesn't loosen up the credit markets? And if that proves to be the case, suppose the federal government can't unload all that worthless paper for a profit, or even a modest loss, as has been advertised? How long until the federal government itself begins [heh] to financially destabilize? And people think the dollar is in the toilet NOW? Is anybody in Washington, D.C. thinking that far ahead?
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