Conservative Wanderer

“A troubled and afflicted mankind looks to us, pleading for us to keep our rendezvous with destiny; that we will uphold the principles of self-reliance, self-discipline, morality, and, above all, responsible liberty for every individual that we will become that shining city on a hill.” — Ronald Wilson Reagan

Daily Archives: 20 November 2009

Mary Landrieu’s 100 Million Pieces of Silver

ABC News:

On page 432 of the Reid bill, there is a section increasing federal Medicaid subsidies for “certain states recovering from a major disaster.”

The section spends two pages defining which “states” would qualify, saying, among other things, that it would be states that “during the preceding 7 fiscal years” have been declared a “major disaster area.”

I am told the section applies to exactly one state:  Louisiana, the home of moderate Democrat Mary Landrieu, who has been playing hard to get on the health care bill.

In other words, the bill spends two pages describing would could be written with a single world:  Louisiana.  (This may also help explain why the bill is long.)

Senator Harry Reid, who drafted the bill, cannot pass it without the support of Louisiana’s Mary Landrieu.

How much does it cost?  According to the Congressional Budget Office: $100 million.

Unfortunately, Sen. Landrieu was just re-elected in 2008, so it will be a while before she can be voted out of office.

2010 Isn’t Looking Good For Incumbents

Most non-political-wonks tend to “vote their pocketbooks,” which means this really doesn’t look good for the party in power right now (emphasis mine):

About 9.6 percent of borrowers were delinquent on their mortgage during the third quarter, according to the survey, and another 4.5 percent more were somewhere in the foreclosure process. Overall, about 14 percent of mortgage loans or 7.4 million households were delinquent or in the foreclosure process during the quarter, according to the group.

That is the highest level recorded by the survey, which has been conducted since 1972, and is up from about 10 percent of borrowers who were in trouble during the same period last year.

If unemployment rates peak by the middle of next year, foreclosures could reach their highest levels by the end of the year, Brinkmann said. But even after peaking, foreclosure rates are likely to remain elevated as borrowers in regions that have had steep price declines and now owe more than their home is worth continue to struggle, he said.

Looks like voters really won’t be in any mood to vote for incumbents of either party in November 2010. While that is bad for the GOP, it’s worse for the Democrats, because there are more Democrat incumbents, and there’s also more Democrats in vulnerable districts, including districts that voted for the Democrat for Congress but McCain for President.

2010 could really be a big GOP year… everything seems to be pointing in that direction, at least.