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Friday, April 23, 2010

And the Lies Keep Coming...

The Republican effort to block Obama's attempt to right the ship after 8 years of poor decisions and bad policy continues. Having lost the health care reform battle the Republicans are now intent on making reform of the financial markets as difficult as possible. If one still needs proof as to whether the goal of the Republican Party is to make the lives of Americans better or ascend to power at all costs, this should settle the debate. There is little argument among sane people that a lack of regulation in the financial markets led to the worst economic disaster in 80 years. So you would think that given the mutual pain felt by all Americans a fix for the financial markets would enjoy, at last, bi-partisan support. Not so!

Mitch McConnell the Republican minority Senate leader still found things to grouse about and as they have with every significant bit of legislation, the Republicans invented a new lie to oppose it. Democrats had placed a provision in the bill whereby the Government could dismantle a bank or corporate entity that was threatening the financial markets and pay for the Government costs of the dismantling from a 50 billion dollar fund. The creation of the fund would come from private sector contributions. Seems straight forward, right? Well not to Mitch McConnell. He alleges that the fund will lead to more bail-outs even though this provision lies within the section of the bill entitled "Orderly Liquidation Authority".

A Republican television pundit explained that the creation of such a fund would ultimately be paid for by the tax payer because the Wall Street firms required to contribute would raise the costs to the consumers of their products to pay for their contribution. The twisted logic of this explanation aside, the Republicans, naturally, offer no solution as to who and how such a dismantling would be paid for.

Sadly, similar to the way an indulgent parent satisfies an irrational child, the Democrats may agree that a fund will be set up once the need to dismantle an entity arises. Anything to make the kid stop crying.

As if the problems that face the nation arising from the President's predecessor do not offer enough challenges the Republicans feel the need to mislead the public with each effort by the President to improve the situation of the American people. From Death Panels to the President's birth place, the Republican lies have been made shamelessly. No doubt, the President does not have all the answers and his solutions have not been perfect, yet the opposition is consistent only in its opposition and in its inability to constructively add to the debate. The Republicans hope their steadfast opposition to the President will pay off come election time. Certainly, the tea party types have been energized by Republican stonewalling and it will motivate them to get out the vote. But what about other Americans, specifically independents or moderates who just want to see things improve and for the Government to facilitate improvement? Will they tire of the Republican shenanigans? Most Americans must realize at this point that the Republican Party is far more interested in gaining political points then it is in dealing with the nation's problems. Obama, at least, cannot be blamed for passing bills to gain political advantage. Just the opposite, he has persevered in the face of ferocious opposition because he feels it is the right thing to do. If the American people collectively see the light and decide that it is better to have someone in power who seeks to positively change the status quo albeit imperfectly, Republicans may find their efforts are for naught.