That declaration is not a total surprise.
The senate version of government run healthcare did not go as far as the House version did. It also contained language on a myriad of specifics, such as abortion, which never would have garnered enough support to win a simple majority to pass.
After the historic special election of Republican Scott Brown on Tuesday, and the loss of Democrat’s supermajority that it caused, one of the only possible ways for the behemoth Obama government run healthcare legislative initiative to see the light of day would have been for the House to pass the Senate version of healthcare reform in its exact, current form. That would have allowed the bill to go directly to the President’s desk and be signed into law before Senator-Elect Scott Brown could effectively stall all efforts on any other version of government run healthcare.
Given the astounding election results in Massachusetts, which was in large part due to voter anger at the partisan, duplicitous and covert way that Democrats are leading, for Democrats to have rammed the existing bill through in such a way would have only further diminished Democrats in the eyes of voters.
The mere fact that Nancy Pelosi announced that there are not enough votes to pass the Senate version of government run healthcare indicates that as unlikely as it was, Democrats were considering the last ditch effort to salvage their controversial, bribe ridden, government takeover of healthcare in America. The fact that Speaker Pelosi sees the writing on the wall and won’t even try a desperate attempt to override the will of the people is all a result of the undeniable message that was sent by generally liberal Massachusetts voters electing Republican Scott Brown to the senate seat that was held by the Kennedy family for nearly five decades.
In another sign of the clear message that has been sent by this first shot in a political revolution, came from the White House.
It is clear that President Obama has backed off of his healthcare power grab and decidedly continued to focus his attacks on the banking industry.
After inventing a new tax that would be applied to only those banks that his administration hand picks , President Obama has now declared new regulations aimed at limiting the risks that banks could take on trades. That is not exactly inappropriate. Depending on how such limits are applied and what those limits are, general rules regarding trade risks for banks are not innappropriate.
Ironically, it was Democrat regulations that helped lead to the bursting of the housing industry which led to the near complete collapse the economy.
Democrats, under President B.J. Clinton, forced banks to enter into high risk loans and mortgages through the Clinton era homeownership initiative.
Designed to better enable minorities and low income Americans to own their own, banks were forced to backed loans with unqualified, high risk clients. After many years, when the piper could not be paid, the housing bubble burst, mortgages began to be defaulted on in unprecedented numbers and banks began to stop lending. This dried up the worldwide flow of money.
So the President’s focus on this issue is admirable. Exactly how Democrats will try correct a problem that their policies helped create is another. How his new regulations will play out and if they will be the proper kind of regulations is another matter. But, one thing is for sure. Democrats and President Obama have gotten the message that voters sent on Tuesday and their push for an unwanted government takeover of healthcare is comatose and listed in critical condition.