November 2008 Archives

Before answering the question of whether taxpayers should rescue the auto industry, we have to know what the situation is, and what the pros and cons are for a rescue or allowing one or more of the Big 3 to bankrupt. Hearings yesterday and today before Congress provide a good deal of information on the topic, and almost no hope of an immediate rescue to come this week.

From Michigan's Supreme Court race to the many incumbent losses in the House of Representatives, to the incumbent losses in the Senate (Oregon's Smith, N. Carolina's Dole, New Hampshire's Sununu), the anti-incumbent vote made its presence very visible in this election. It was decidedly an anti-incumbent vote against the GOP. However, both major parties can no longer ignore the power of the independent voters (6% of whom decided the Democratic direction of this race), nor the power of voters exercising their right and obligation to vote out incumbents when government disappoints the voters.

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As early as 8PM this evening, we may have clear indications as to who our next president may be. Be that as it may, there are an enormous number of other important races and candidates to be determined from the Eastern most point of Maine to the Western most tip of Hawaii. For 10's of millions of Americans today, a case of the blues will try to settle in because their horse didn't cross the finish line in first place. But, this election is as much about process as results. And the process, though in desperate need of reform, continues to work.


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