January 21st

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JANUARY 21st….Matt Yglesias isn’t happy with the bailout bill:

Under the circumstances, it looks like a bill that’ll be good enough to stave off collapse of the financial system, but probably won’t wind up addressing the full extent of the problem. This subject is going to have to be revisited after the election. But the unfortunate reality is that the current configuration of power in Washington still leaves the conservatives whose policies and ideology is largely responsible for the collapse in command of too many levers of power to simply implement a solution that’s not tainted by their misconception of the problem.

I’m less unhappy than Matt. I think there’s a decent chance the bill will provide enough systemic relief to prevent a scattershot government takeover of failed banks, and I’m OK with that. More to the point, though, if the bailout doesn’t solve the problem completely, I’m perfectly happy to put off further action until after the election. If widespread nationalizations do turn out to be necessary, there’s a way, way better chance of doing it decently on January 21st than there is today. One thing is certain, after all: we’re not going to end up with a Swedish-style political solution in which both parties put down their hatchets and sing Kumbaya as they announce a rescue plan. Events of the past week have made that crystal clear. If it happens at all, it will only be because Democrats manage to push it through on sheer muscle.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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