America - The New Third World Economy

America. The name brings images of prosperity throughout the world. People in countries with rampant corruption look to us as a symbol of what politics could be like without bribes and scandals erupting every day.

Our politics are a symbol of efficiency where elected citizens could debate issues and ultimately arrive at laws and rules that are for the betterment of all U.S. residents and not special interests.

Our banks are a model of strength where ordinary people could deposit their money without fear of loss. Where investors could seek to deposit their savings with minimal risk.

So where has the former American glory gone?

During the last 8 years, we have been riddled with corruption scandals. Our lawmakers who were supposed to be acting on behalf of ordinary citizens were found to be acting in their own interests and lining their already deep pockets. The scandals were not limited to bribery and financial indiscretion. There were cases of moral perjury and ethical doublespeak. Some lawmakers who spoke out openly against gay and homosexual rights (on behalf of their constituents) were found in public restrooms using hand gestures to solicit gay sex.

Even our own president who claimed to have knowledge of weapons of mass destruction in Iraq, was found to be leading an invasion to no-where... for absolutely no reason at all.

Where have all the true Americans gone?

After all that our beloved country has been through over the last 8 years we realize that change is around the corner. The president will be replaced by someone with more sane and successful policies (hopefully from a different party). As he departs, the remnants of G.W. Bush's failed policies continue to implode our beloved country. Our banking industry is collapsing right before our eyes. A victim of unregulated chaos and free market anarchy that allowed billionaires to give million dollar loans to paupers with the hope of making a quick buck in fees.

In order to clean up his mess, George W. Bush has decided that it will take $700 billion dollars to prop up and suture our banking industry so that it stops bleeding. Most experts agree that this is one of his few wise maneuvers though one only wishes that he would not have created this mess in the first place.

Nonetheless the general public is sickened by this fiasco. It will be a very bitter pill for the public to swallow but like many decisions throughout the history of the United States, public opinion is not always what is best for the country.

All of Washington understands that a bailout is needed. Most of our elected officials (including George Bush) know that the mess in Wall Street will only lead to our demise if we do not act quickly with the $700 billion dollars in life support. So why did the House of Representatives vote it down?

Here is the margin by which the bailout of the savings and loan industry failed to pass.

Democrats 140(yes) 95(no)

Republicans 65(yes) 133(no)

(* source taken from MSNBC the article can be found here: http://www.msnbc.msn.com/id/26884523/ )

The majority of Republicans voted AGAINST the bailout plan that would have corrected the problems created by their party leader George W. Bush. Could there be something in the bailout measure that was rancid? Certainly there must be a reason why during this time of crisis the republicans would (by an overwhelming majority) vote against such an essential piece of legislation which was created by George Bush himself!

Asked why the majority of republicans voted no on the measure, the minority (republican) leader John Boehner from Ohio said, "We could have gotten there today had it not been for the partisan speech that the speaker gave on the floor of the House."

Could this be true? During this time of crisis when this bailout could mean the difference between life and death for America's financial institutions, could the Republicans in the House vote no simply because of a speech that hurt their feelings?

Whatever happened to doing what is right for our country? Isn't this a time when our politicians should put aside their parties and work together as Americans? Nancy Pelosi (the Democrat Majority leader who made the speech in question) said that "right-wing ideology of anything goes, no supervision, no discipline, no regulation" was the cause of this financial crisis. She could have just played politics like the republicans did and just voted against the bailout in an effort to make George Bush look even worse than he already does and make the republican party shine like a dark coal, but instead she voiced her anger and voted FOR the bailout because she new it was necessary for the country.

Mr. Bonehead... sorry Mr. Boehner... instead was personally offended that someone dared to speak out against the failed policies that got us into this mess and for that he decided to punish the American Public by voting no on the bailout.

We have an election coming up in November, are any of you still willing to give republican "leaders" like Boehner a chance to rule over the American people? Are you willing to let John McCain into the White House so that he can reward his fellow party-men like John Boehner?