From Deseret News archives:
A failure of public confidence
The bill failed the House by a vote of 228-205. A recent Associated Press-Knowledge Networks poll showed 45 percent of Americans opposed the plan, with just 30 percent in favor and 25 percent undecided. News reports said lawmakers received a flood of angry phone calls in recent days from constituents opposed to the bill.
When the Founding Fathers wrote the Constitution, setting the terms of representatives at two years, they ensured that members of the House would continually have an eye toward an election, making them more responsive to public opinion. That is particularly true when an election is five short weeks away. The votes of Utah's three representatives demonstrate this. Rob Bishop and Jim Matheson, both of whom face re-election in November, voted against the bailout. Chris Cannon, who lost in his party's primary, voted in favor.
That's clear enough. What is murky, however, are the details. How would the treasury secretary determine the purchase price for the bad assets? How much unfettered power would the secretary have to make these decisions?
On Monday, the failure of the president and congressional leaders to sell their plan, on its merits, to the American people proved decisive. The public may not be sophisticated when it comes to economics, but the nation's leaders have a duty to clearly demonstrate that the bill was not an example of the powerful helping the wealthy, without regard to the masses.
A recent CNN/Opinion Research poll showed 79 percent of Americans believe the economy would worsen without government action. However, 77 percent said they felt a bailout would reward those responsible for the downturn.
That is the gulf politicians have to bridge if they want their constituents to buy into government intervention.
Recent comments
I personally like the fact that The House of Reps and Congress voted...
Chris Spencer | Sept. 30, 2008 at 7:29 p.m.
The editors got it absolutely WRONG. The bill didn't fail because...
Extortion Note | Sept. 30, 2008 at 3:59 p.m.
Is this an indication of how the Democrats will bail us out of all...
The next four | Sept. 30, 2008 at 12:04 p.m.
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70
It's BEER, not acid people! Some people love having it sprayed on themselves....
I believe Max Hall cemented his legacy tonight with his lack of...
I find it interesting that these comment come after a so-so performance in a...
If you really think BYU is more arrogant than USC or UCLA or so many other...
cougars baby!!!!!
I have one word for the BYU AND UTAH fans: TCU!!!! hahahaha
Two great examples of lack of class surfaced tonight: Pete Carroll, USC's...
Don't forget my favorite Max stat. 2 out of 3. Yeah, I bet that...
Thanks for the comment Max! I hope you keep on playing just like you have...
Neat article! (Yes, I'm a little biased :) It's been an exciting time to be...

