Cross posted at About the Real World
I’m watching the confirmation hearings of Ben Bernanke and I can’t believe the Democrats really want this guy hanging around their necks. True, they will need Republicans to get this past cloture, but the fact that there are enough Democratic senators willing to support him should shake up anyone who thinks the Democrats will do anything to reverse the downward spiral of the middle class in the United States.
If the Democrats wanted to say: We stand on Main Street, no Wall Street what better opportunity could they have then to insist on a nominee for Fed Chair who understands a key element of the Fed’s mandate is to support full employment. Instead, the Dems are going to join hands with a few Republicans and leap into the a void of public support to confirm him.
If the Democrats were smart they would drop this guy like a hot potato. If they were not smart but also not suicidal they would insist on at least 31 Republican cloture and 26 for confirmation. But unfortunately, today’s party want to walk off the cliff as quickly as possible.
Update: Well, they are both dumb and suicidal. The nomination passed with only 22 Rethug votes and with 48 Dem votes. What a sorry story.
Today they just can’t resist the leap!