rescue plan

That was a pretty positive word - it has a positive connotation, that of a situation vastly improving, for the betterment of all parties involved.  The adoption of "surge," in daily political jargon just carried feelings of upward mobility with it.

Now, as we near the end of 2008, what is the Political Buzzword of the Year?

Do I even have to say it?

BAILOUT.  It all began with the "rescue plan," of Bear Stearns via J.P. Morgan, and has continued throughout the year, whether via the Federal Reserve, the Treasury Department, or the Congress.  Everyone has lined up to get their share of the bailout excuse me, rescue plans, and the economy hasn't miraculously been saved for any of these bailouts, which is surprising given all the hand-wringing and doomsday predictions the White House and their allies in Congress spewed about how "necessary," each and every one was (sarcasm off).  The government now plays economic kingmaker, determinig which companies are too "big to fail," and which failed management teams deserve their shot at the Taxpayer's Wheel of Fortune.  

Does anyone remember the long, drawn out, public debate about Fannie/Freddie, the Community Reinvestment Act, and monetary bubbles created by the Federal Reserve, all of which combined in a phantasmagoric trilemma from government hell to enable ridiculous loan practices and lead to the housing situation we are in now?

You know what?  I don't remember, either.  It's because we never had that public discussion.  Very few politicians had the stomach to bring it up, and our party's Presidential nominee only tepidly talked about how he had wanted to reform Fannie and Freddie but the mean Democrats wouldn't let him.  Sure, there was plenty of solid, historical analysis from the blogosphere - but hey, who pays attention to those troglodytes, anyway?!?

The latest in bailout news?  You are all familiar with it by now - car companies.  Apparently a great showdown is occuring this week, though I doubt Senator Shelby will be able to garner enough support to filibuster or defeat a bailout bill (excuse me again - a bridge loan) for the Big Three.  The UAW claims to be willing to be a part of the solution, but it turns out they don't really mean it, and will continue to be part of the problem.  Color me surprised.

We went from 2007, with the word surge, one evicting positive emotions of upward mobility, and improvement over a current situation, to the pathetic misnomer bailout in 2008.  I call it a misnomer, because "our economy," (that is what we're all fighting for, right?  Right?...) is not receiving these "bailouts."  People who don't deserve them due to fiscal mismanagement are receiving the goodies from Uncle Sam's Candy Store, of course all graciously granted by politicians that were every bit as complicit in most of these problems to begin with.  A "bailout," for taxpayers has hardly been suggested, because as we can all expect by now the federal spending will continue to skyrocket, and we will continue to borrow and print money.  Bring on the large FDR-style New New Deal jobs programs from President-Elect Obama, and when the economy has "improved," enough to hide all of the leaks in it, bring on higher taxes for the evil, filthy rich, at the very earliest in 2010 by not renewing the Bush tax cuts.

I like the 2007 word a lot more than the 2008 one, don't you?

Cross posted at Save the GOP.