Could the auto bailout be unconstitutional?
That is what Robert Reich ponders separation of powers:
Call me old-fashioned, but I believe in democracy. And under our Constitution, Congress is in charge of appropriating taxpayer money. If Congress explicitly decides not to appropriate it for a certain purpose, where does the White House get the right to do so anyway? By pulling the money out of another bag? That other bag, by the way, called the Troubled Assets Relief Program, or TARP for short, was enacted to rescue Wall Street, not the automobile industry.Reich, who served as Secretary of Labor in the Clinton Administration, supports the bailout of Wall Street and Detriot, but sees that the Executive Branch is assuming far too much authority.
Under our Constitution, it is the sole authority of Congress to appropriate money. Of course, there is nothing in the Constitution about propping up failing companies either. Funny Reich doesn't mention that, but I digress.
H/T: Below the Beltway
Comments
Congress is supposed to take care of allocating money and the Executive branch is supposed to ask before jumping the gun. But in these times of spending the taxpayers money like it is just a drink of water nothing surprises one any more. But fear not the well will go dry one day. Then who will bailout the government after the taxpayers are broke?
Posted by: The Doctor | December 20, 2008 09:45 PM
So, Reich's is concerened about which branch gets to sink the nation? Not that the entire boondoggle threatens our foundations? Posturing, just posturing.
Posted by: Larry Stanley | December 21, 2008 11:22 PM