National Debt Clock

Tuesday, March 24, 2009

Checks and balances at work

While I really have no hope that I will be fully behind any taxation law that comes from this, I am impressed by how our checks and balances seem to be working. Well, check that, I shouldn't be surprised because this is exactly why our government was set up as it was. The Founders in their infinite wisdom warned against passion of the moment and the rule by mob. Lawmakers jumped to punish AIG because that is what the mob wanted and was politically acceptable at the time. But due to the legislative process, level heads are allowed to prevail over time. Well, maybe.

At the indication that Obama had concerns over the AIG taxation, congress is now revisiting the original bill, hopefully to moderate it a bit. Let us hope that whatever comes from this is, as Obama put it, not due to the passion of the moment. We can only hope...

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