“In the time of Joseph McCarthyism, celebrated in the Pogo strip by a character named Simple J. Malarkey, I attempted to explain each individual is wholly involved in the democratic process, work at it or no. The results of the process fall on the head of the public and he who is recalcitrant or procrastinates in raising his voice can blame no one but himself.”[i]
Walt Kelly, Pogo Papers, 1952
Healthcare reform was inevitable because the necessity for change was greater than the fear of change. The insurance industry has simply jerked too many Americans around too many times and done nothing about the cries for relief other than raise rates and lower coverage.
In the March 11 report I wrote, “Obama is smart enough to come out of the healthcare reform debate with a win. He has to. His entire agenda is at stake. He will make whatever sacrifices are necessary to declare a victory.” Well, he gave up the public option and agreed to a pro-life presidential decree. He won.
I also wrote in March that by the time the May primaries roll around in North Carolina, the healthcare debate will be old news. “Obama will be directing his energies to the other problematic issues for Democrats by then: the economy, jobs, and big government spending. There will be an uptick in the job approval numbers for the President and the Congress, and most incumbents will win their primaries.”
I’m sticking with that forecast, and adding this one: Financial regulatory reform is inevitable because the need is greater than the fear of change. The banking industry and Wall Street investment houses have simply jerked too many Americans around too many times and done nothing about the cries for relief other than raise fees and lower services.
If Republicans stand with Wall Street in the upcoming financial reform debate, they will wind up on the losing end of that legislation as well.
Continue reading »
Recent Comments