The situation is highly confused and fluid, but there are some reports that something very much like the Paulson legislation is on the verge of being adopted by Congress, and that McCain's little stunt today is just grandstanding so he can take credit for Saving the Republic before jetting down to Mississippi for the debate.
Forget McCain, forget Obama, forget the debate and the election. IT IS COMPLETELY BEYOND THE PALE for Congress to pass arguably the single most costly and significant piece of economic legislation in the history of this country with no substantive hearings, no floor debate, no public discussion of any kind of what is or isn't on the table, what the alternatives might be, what the consequences of doing this are -- in short without ANY deliberative process whatsoever.
This would be true under any circumstances, even if there was overwhelming public support for the proposed legislation, but on the contrary there appears to be a great deal of opposition across the political spectrum. In addition, most economists have condemned it.
If anything like this happens in the next few days what will it say about how much democracy there really is in this country?
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