I was working on a post about the imminent passage of the bailout package when the news came that the deal is in serious danger of falling apart. Perhaps unsurprisingly, it is the President’s own party that seems to be the one torpedoing the deal, fearing that it is leading to socialism.
I suppose it’s only appropriate. After all, the first Great Depression happened under a Republican president, Calvin Coolidge. If the second one happens under Bush, the GOP will be two for two.
Ironically, if the economy does completely collapse, it will probably usher in an era of socialism faster than anything else could. Norman Thomas must be enjoying the show, wherever he is.
