Political Maneuvering, Public Impatience

The fault lines in government policies aren't simply about openness and secrecy, honesty and deception. They are being defined by the public's anger and impatience with political maneuvering at a time when there's a need for serious deliberations without the overlay of "gotcha" politics. It's also about good judgment- -what's smart and what's not.

The question that gets asked a lot with respect to our leaders is how stupid do they think we are? There has been a loss of confidence in our institutions and a sense that fair play no longer applies to the lives of ordinary Americans. It is often said that ‘life isn't fair', but deep down most people think fairness is part of our national heritage.

The outrage over executive compensation in companies that have received bailout monies has provided a forum for the public unrest that has simmered below the surface for some time. Because corporate management salaries are so out of proportion to the pay scales of the general population, national discontent has found expression in the turmoil over rescue packages and a feeling of helplessness in the face of forces most people do not understand and over which they have little control.

It may actually be a good thing that the country has reached a boiling point over salaries and bonuses because it highlights inequities that have become more pronounced in recent years. Anger over the rescue of companies who have engaged in questionable conduct makes it imperative for leaders to make clear that propping them up isn't just some scheme to enhance the fortunes of political allies but serves the general population.

It is all the more distressing then that discussions have deteriorated into partisan rants about who's to blame for this one egregious example of the underlying plague that has ravaged our economy. Arguments about regulating markets, tax rates and what constitutes economic fundamentals have served to cloud basic problems, forcing debate into an ideological morass. The outrage being expressed by Republicans in Congress now is another attempt to discredit the administration. Many of the most vocal critics- -Cantor, Shelby and McConnell, among others- -agreed with the Bush-Paulson decision not to force the issue of salary caps, fearing various banks might not participate in the bailout plan. In fact, some may return funds rather than agree to governmental oversight of their remuneration policies. Barney Frank says ‘thanks, we'd be glad to have the money back.'

Accusations keep surfacing that Chris Dodd created the exception guaranteeing the AIG bonuses, but in fact his original amendment that was passed stated that remuneration should "meet appropriate standards for executive compensation and corporate governance." That requirement was altered in conference, and the ultimate responsibility for making the change is a matter of some confusion but appears to have been Treasury-inspired. However that plays out, as Congress tries to "claw back" AIG bonuses, the president needs to be on the side of the angels, in this case, the American people.

Unfortunately, some stories take on a life of their own in an atmosphere where the right-wing misinformation mill keeps up a constant tirade that grips listeners with its ill-founded air of self-righteousness. Representative Frank commented on how odd it was for Rush Limbaugh to accuse Democrats of "McCarthyism" for trying to get the names of AIG executives who received bonus money - - odd because McCarthy has always been something of a hero on the right and, while his accusations were harmful diatribes about political beliefs, determining who received bonuses from a failed arm of AIG is another thing entirely, though Limbaugh never allows logic to interfere with his partisan game.

Other less extreme conservative voices like David Brooks approach the issue of how to frame the country's financial fundamentals a bit differently. In his NY Times column, 3/17/09, he says the president "...displays no passion when speaking about commercial drive and success." And he points out that the administration has few business people, "let alone self-made entrepreneurs". But, Brooks adds, "The cultural DNA of the past 400 years will not be erased...The gospel of success will recapture the imagination."

The thing is that, in order to realize our national potential, the president's emphasis on educational opportunities, new industries and job training, about which he is extremely passionate, are his way of ensuring that we don't just  proceed from "bubble to bubble" but create an enduring, prosperous and more just society.