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Jamie Dupree

The Politics Of The Economy, Part 22

By
Jamie Dupree
@ April 2, 2008 12:00 AM
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After a laser-like focus in 2007 on the war in Iraq, Democrats have changed their tune this year in the Congress, placing the emphasis much more on economic matters.

Today, both parties will get the latest from Fed Chairman Ben Bernanke, who makes his first appearance before Congress since the Fed engineered that emergency deal for the investment bank Bear Stearns.

Yesterday, Bernanke came to Capitol Hill to meet with House GOP leaders, but said nothing important in a short photo opportunity with lawmakers.

As I said yesterday, Republicans would love to have Bernanke publicly knock the idea of tax increases, an idea that is at the top of the list of things to do for many Democrats. I'm sure some in the GOP will give him that chance today.

Also getting a lot of air time with Congress back at work is legislation that would deal with the rising tide of home mortgage foreclosures in America.

Before Easter, Senate Republicans had successfully blocked the bill, but they returned and realized it would probably be better to move forward on the issue, rather than rely on the filibuster to make their point.

The problem on the foreclosure matter, high energy prices, the economy and (fill in the blank with almost anything) is that neither party really wants to compromise.

Oh yes, there are some in each party who are looking for a bi partisan deal. But for the most part, the idea of cutting a deal with your enemy on a major issue is simply unacceptable.

When you talk to voters, one item that routinely comes up is the "ability to reach across party lines."

Oh, how naive they are.

Politicians love to talk about cooperation in the Congress. But they don't come close to following through on that promise.

With the economy under the gun, with the housing market in trouble, we'll get an idea whether both parties are really interested in having an issue for the November elections or cutting a deal.



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