Wednesday, October 01, 2008

Senate rescue package

The senate has passed a rescue package - leaving it up to the house now.
but in a classic example of the flaws in this system, the senate republicans have tacked a hundred million dollars in tax cuts onto the bill something that the fiscally conservative democrats will hate.

I don't know the details but this seems like so much pork attacked to what should be a purely rescue/investment* package. It seems a bit silly that a lawmaker could be faced with a sufficiently important and urgent bill that they had to vote yes, regardless of what bad policies were piggybacking on the same bill, or that it might end up getting thrown back and forth between the two houses as each rejects the others pork.

the best rescue package bill, I think, would have been a simple one with appropriate oversight.
Anyway - the lesson seems to be that the American system does not appear to be well designed for good quick decision making.

* the investment part comes from the fact that if done well the government can and in fact should make a profit.


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