Tuesday :: Mar 8, 2005
The Republican Party's Moral Bankruptcy and the 2006 Election
Let's face it--in spite of our impassioned efforts, the Loan Shark Protection Act appears to be headed for passage. But the dynamics of this bill are far different from the Social Security phase-out effort. As Mark Schmitt helpfully explained
When Social Security is gone, it will not come back, no matter how badly the accounts do. And people will not respond to its absence by becoming Democrats and demanding the restoration of an economic safety net for seniors.
This is what's so insidious about privatizing any government service--once it falls into private hands, it will be nigh impossible to re-nationalize it. Just ask the Labour Party in England with regards to the disastrous privatization mania of the Thatcher-Major years, particularly the railroads. Fortunately (if I may use that unhelpful term), the Loan Shark Protection Act is just a bill--its ill-effects can either be negated (by repealing it) or lessened (by amending it).
This, I believe, should be central to the Democrats' 2006 election strategy. Reid and Pelosi should not only promise that, under a Democratic Congress, the Loan Shark Protection Act would be repealed, but they should also tie it to the overall moral bankruptcy of the Republican party. Just imagine the TV ads: "Republicans--the best political party money can buy."
Got it, monsieurs Greenberg and Carville?