Saturday, March 27, 2010

Congress and Logjam

Odd, with hints and rumors of disreputable things:
The architects of the health-care-reform bill, for instance, couldn't bring themselves to propose the difficult reforms necessary to assure Medicare—and the government's—solvency. So they created an independent panel of experts who will have to propose truly difficult reforms to enable the Medicare system to survive. These recommendations would take the fast track through Congress, protected from not just the filibuster but even from revision. In fact, if Congress didn't vote on them, they'd still become law. "I believe this commission is the largest yielding of sovereignty from the Congress since the creation of the Federal Reserve," says Office of Management and Budget Director Peter Orszag, and he meant it as a compliment. Cap-and-trade, meanwhile, is floundering in the Senate. In the event that it dies, the Environmental Protection Agency has been preparing to regulate carbon on its own. Some senators would like to block the EPA from doing so, and may yet succeed. But those in Congress who want to avert catastrophic climate change, but who don't believe they can pass legislation to help do so, are counting on the EPA to act in their stead. The financial meltdown was, in many ways, a model of quick congressional action. TARP had its problems, and the stimulus was too small, but both passed, and quickly. After they'd passed, though, it became clear they weren't sufficient, and that Congress wasn't going to be able to muster further action. So the Federal Reserve, in consultation with congressional leaders, unleashed more than a trillion dollars into the marketplace. It was still the American people's money being invested, but it didn't need 60 votes in the Senate... As for foreign policy and national security, Congress has so abdicated its role over war and diplomacy that Garry Wills, in his new book, Bomb Power, says that we've been left with an "American monarch," which is only slightly scarier-sounding than the "unitary executive" theory that the Bush administration advocated and implemented... Some might throw up their hands and welcome the arrival of outside cavalries, of rule by commissions and central banks and executive agencies. But there is a cost when Congress devolves power to others. The American public knew much more about the stimulus than about the Federal Reserve's "quantitative easing" program because Congress is much more accessible and paid more attention by the media. The EPA can impose blunt regulations on polluters, but it can't put a price on carbon in order to create a real market for cleaner energy. The debt commission's recommendations will still require a congressional vote. When Congress doesn't work, the federal government doesn't work, no matter how hard it tries.
I'm really not sure what to think of this.

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