As I watch television or read reports both on the net and in print I am stymied by the ineffective path George Bush is choosing to define his lameduck period. On this point I will agree with PEOB, Mr. President we have a crisis of historic proportions. It cannot wait until January 20,2009. It needs action and it needs it now. The thought processes to construct an effective plan need to be in place. If it means letting the PEBO team assume office before you leave then sobeit.
Please don't misconstrue this post to me I favor blind bailouts. I was calling the original plan a failout and still do. Everyone including Paul Kanjorski acted in haste to make the money available. Now it sits there like an able and willing player occupying the bench dying for the coach to put him in.
The auto industry was sent a strong message. Come back with a plan. Labor and management should be burning the midnight oils to author that document.
In 1990 and 1991 the Congress and the Senate took a $27,000 pay raise representing a 29.5% increase. Their raise was $4,100.00 this year. I believe the House and Senate can set an example by forgoing their raises this coming year as a symbolic joining with any union and management givebacks that will be necessary. With a shrinking economy there are going to be sacrifices all around, not just in the industries who are seeking help from the government. It is time to lead by example.