Obama’s Ace in the Hole: Create a crisis so Mighty Mouse Big Government can save the day. Remember 2008 and TARP? Won’t work and here’s why.
Polls had Barack Obama and John McCain dead even in September 2008 in the race for the White House. Oil prices were sky high, causing the vast majority of paycheck-to-paycheck living Americans to fall behind on their house payments of their very overinflated mortgages. The Freddie Mac/Fannie Mae bubble began to explode. Credit markets began to freeze up because of the scale of the exposure that banks had to the ton of bad loans they had written and the bill came due.
Politicians began to get nervous, Henry Paulson was getting on his knees before Nancy Pelosi crying “DOOM! DOOM!” Then the first TARP vote came in the House. The House votes it down. Pelosi/Rahm vote down TARP first time to generate market crisis so Mighty Mouse Government can save the day? Why in the world is Chuck Schumer grinning ear to ear on the camera? The market tanks. The House takes up TARP to vote on it again. It passes, goes to the Senate who passes the bill with urgency and President Bush signs it into law. The Democrats have saved the day, John McCain’s comments of the American economy being stronger than ever and his cosmetic suspension of his campaign backfires terribly. Barack Obama cruises to be elected president.
Is this the Democrats ace-in-the-hole? Maybe they think so but there is one thing that is very, very different than it was back then: The House is controlled by the GOP and all bills must originate out of the House.
Cut, Cap and Balance has been passed by the House and tabled today by the Senate. Whether Harry Reid, by tabling the bill was trying to shield his vulnerable Democratic Senators up for re-election, or just trying to punt, praying for John Boehner to cave has come to naught. There is already a solution to the problem out there. The Democrats strategy of not producing any alternatives and criticizing any GOP plan, trying to minimize exposure of the awful vote these vulnerable Democratic Senators will have to take on some bill or on any budget they might produce, has in the end cornered them. The Gang of 6 plan has been shot down in the Senate. There still is only one bill out there and not enough time for Democrats to write an alternative which would undoubtedly be against the vast majority of Americans who don’t want any more debt and don’t want taxes. If they side with the will of Americans, their base will turn on them.
Because CCB is out there, has been passed in the House, and represents the will of the American people by a 2-1 margin, if we default and the economy craters, it will lie solely with the Democratic party because they wouldn’t listen to the American people again and refused a bill that represented the American will. They will have walked away from a solution that addressed the problem and dramatically worsened the economy with their obstinance.
Hold the line. Steadfast and loyal to the end.