The Duck of Minerva

The Duck Quacks at Twilight

The bailout, or, maybe McCain had a point

October 2, 2008

The bailout fails by 12 votes in the House of Representatives. So what does the Senate leadership do?

Come up with a significantly different plan?

Decide that the Democrats are going to own this thing anyway so they might as well pass a strong progressive alternative?

Make marginal changes targeted at specific objections offered by “movable” opponents?

No. Reid and company decide that if we’re going to pile on another $7,000,000,000 in debt anyway, then what’s another $1,000,000,000 between friends? After all, our kids and grand kids can pay for it with the magic economic boom beans we’ve tucked away between the provisions increasing aid to rural schools and passing mental health parity. And tax cuts? The Democratic leadership knows that’s like smack for Republican junkies, so they threw a bunch of them in as well.

For TWELVE VOTES. That’s what, $83,333,333.34 per vote? They could’ve bought themselves a few financial institutions for that. I hear they’re going cheap these days.

What a joke.

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Daniel H. Nexon is a Professor at Georgetown University, with a joint appointment in the Department of Government and the School of Foreign Service. His academic work focuses on international-relations theory, power politics, empires and hegemony, and international order. He has also written on the relationship between popular culture and world politics.