Have the Republicans Lost It? - The Intrepid

Monday, September 29, 2008

Have the Republicans Lost It?

Between temper tantrums, reckless behaviour, and a new urge to plunge America into financial chaos, Republicans seem to have lost their minds.

Last week, John McCain suspended his campaign over the financial crisis (but didn’t), immediately flew back to Washington (24 hours later), and then stepped in to guide negotiations over the Bailout Bill (ruining them).

Between his gambit on Palin, which is looking like a worse choice every day, and his baffling maneuvers during the economic crisis McCain is starting to look as if he’s fit for a straight jacket. His only moment of clarity, and relative sanity, over the last two weeks was the debate last Friday in which he managed to look poised, thoughtful, and rather Presidential.

The Republicans in Congress are not fairing much better either. In a surprise decision today, House Republicans overwhelmingly voted against the $700 billion Bailout Bill. While Republicans running in competitive districts might have voted against the bill because it was unpopular with their own constituents, the resulting economic chaos hardly seems to their advantage. If lifesavings are wiped out as stocks continue to plunge, people are going to want to give the party in power the heave-ho.

The decision will also hurt Republican fundraisers who rely on Wall Street. The Wall Street CEO’s that the Republicans need to fill their coffers during the election season are more likely to spit on an incumbent Republican than hold a fundraiser.

Finally, this decision further weakens McCain’s position. McCain’s intervention late last week looks even worse and Obama goes up in the polls every time the market falls. The latest Gallup poll gives Obama an 8-point lead over McCain.

Perhaps the Republicans understand that an Obama victory is inevitable. This would help to explain their scorched earth policy, as Obama is bound to lose the 2012 Election if the country he inherits lies in ruins.