Republicans to Cheney on $700-billion bailout: We're not buying it

Vice President Dick Cheney trudged up to Capitol Hill today to try to convince skeptical Republican congressman that spending $700 billion to bailout Wall Street for its bad gambling habits at taxpayer expense was a good idea.

It was a tough sell.

A large number of House Republicans remained skeptical, even after a two-hour meeting with Cheney at the Cannon House Office Building.

"I don't know anyone who's sold on this rescue plan,'' said Rep. Wally Herger (R-Chico). "There's a lot of concerns. The general feeling is we have to do something, we have to be decisive. But there's concern about a bill that could be loaded up, and there's concern about whether this is the right way to go."

Some blame President Bush for not selling the idea better.

"I think they still need to make the case,'' said Rep. George Radanovich (R-Mariposa) "Is the president going to help us with our constituents and make them realize that it's not about Wall Street, that it's about every American? That case still needs to be made.''

A number of lawmakers said they didn't like the idea of rushing through a proposal they only received days ago.

Rep. Jack Kingston (R-Ga.), saying the House is now "very divided," urged a slowdown. "If Congress said, 'We're going to do something, we're not sure what, but help's on the way ... I think you can actually send Wall Street a good signal, get a little sanity injected into this."

The last time Cheney, a former congressman, played this same role in corralling support on Capitol Hill was for the war resolution that sent troops to Iraq. This time, he took with him officials from the Treasury Department and the Office of Management and Budget who warned of dire consequences if the package is not passed this week. Still, the doubters dominated. And some of the doubts stemmed from the Iraq war.

Rep. Phil Gingrey (R-Ga.) said Republicans are wary of giving one man -- Treasury Secretary Henry Paulson -- so much power, especially after the administration's failed response to Hurricane Katrina and its false claims about weapons of mass destruction in Iraq.

-- Richard Simon and Johanna Neuman

Photo credit: Lauren Victoria Burke/Associated Press

Comments

[bkmur]

Cheney is a spent force.

[whitemtntn]

This country is royally screwed. Ironically, the charlatans that brought us to this sad state are now trying to sell the idea that they have the means to save us. Are we really that much of a nation of suckers? We have seen already, that yes.. we are.

[Rich Rubin]

There has been, in the last 8 years, so much deception, secrecy, mis-direction and other tactics of legerdemain in this administration, that I, for one, cannot begin to figure out what is real !

I am suspicious of what ulterior strategy is in play whenever I see a Bush/Cheney-orchestrated effort like this. Is this another grand manipulation?

Giving this much fiscal power to Paulson is the same as giving it to the executive branch. My god, Paulson serves at the pleasure of the President. The lack of accountability of executive branch war powers coupled with unaccountable executive branch fiscal power conveys tremendous control to a seemingly troubled, if not corrupt administration.

Also, John McCain's antics - canceling his campaign - not just asking to postpone a debate. What, if any, plan is behind that one? Is the next step to cancel the election?

Now ranking republicans in congress are seemingly bamboozled by the administration's agenda. Can someone tell us what is really going on?