Friday, February 08, 2008

Panem et Circenses (bread and circuses)

In Satire X of Juvenal the idea that when governance can't work leaders offer cheap food and entertainment was demonstrated once again by our Congress. Yesterday our elected leaders adopted a stimulus package for $152 billion (this follows the President's proposal for a $3.1 trillion "scaled down" budget).

"This is the Senate at its finest, recognizing this was an opportunity to demonstrate to the public that we could come together, do something important for the country and do it quickly," said Senate Minority Leader Mitch McConnell (R-Ky.). "We were able to put aside our differences not only in the Senate but with our colleagues in the House and with the administration." Senate Majority Leader Harry M. Reid (D-Nev.) added: "It's tremendous what we've been able to accomplish." Our economist president added that the new bill "is robust, broad-based, timely, and it will be effective. This bill will help to stimulate consumer spending and accelerate needed business investment." McCain voted present, Clinton and Obama were off campaigning. But that did not stop the spinmeisters from issuing press releases praising their accomplishments and yapping about McCain's non vote.

This "landmark" legislation would provide checks to all people up to $75,000 ($150,000 for couples) in income. In addition it raised the level for Fannie Mae and Freddie Mac to insure mortgages and provided some additional boodle to people who receive veterans and social security benefits.

Perhaps the wittiest comment of the day came from Senator Claire McCaskill who said "It was time to declare victory and move on to the next stimulus package within only a few weeks." Everyone knows the effects of these kinds of bills yet because this is an even numbered year they vote for them. Should we tell them about next year Senator McCaskill?

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