• 313 days Will The ECB Continue To Hike Rates?
  • 313 days Forbes: Aramco Remains Largest Company In The Middle East
  • 315 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 715 days Could Crypto Overtake Traditional Investment?
  • 720 days Americans Still Quitting Jobs At Record Pace
  • 722 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 725 days Is The Dollar Too Strong?
  • 725 days Big Tech Disappoints Investors on Earnings Calls
  • 726 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 728 days China Is Quietly Trying To Distance Itself From Russia
  • 728 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 732 days Crypto Investors Won Big In 2021
  • 732 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 733 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 735 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 736 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 739 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 740 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 740 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 742 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

What's in a Bill Name?

Recently Congress passed the American Housing Rescue and Foreclosure Prevention Act., also known as the Housing Bill. Its passage was lauded by many who are legitimately concerned about foreclosures and the housing market in our country's economy. I was asked how I could vote against a bill to help American homeowners, but I found this bill to have more to do with helping big banks than helping average Americans.

The answer is that there is more to any bill than its name or the headlines surrounding it. If one only paid attention to bill titles, one could happily vote for almost any bill put to a vote on the floor. Titles do not tell the complete story of a bill's provisions, and many titles are downright deceptive and come close to emotional blackmail of legislators. But we cannot afford to be fooled by fancy titles. The housing bill could perhaps be more aptly named The Big Banking Bailout at Taxpayer Expense Act as large sections of it were written by big banking lobbyists according to Evans and Novak reporter Tim Carney's Capitol Hill sources. At least that title would be honest.

Also, many of these magnanimous sounding foreign aid bills and so-called human rights resolutions have counterproductive and hypocritical language tucked into the fine print. The recent bill on China was a good example. This resolution calls on China to hold meetings with the Dalai Lama without preconditions, when that is something our own government will not do with Iran. How our government has the authority to tell China what to do it beyond me, especially when we demand something so hypocritical. On foreign aid bills and legislation that on the surface seems very charitable, upon closer examination we find strings attached and a lot of manipulation of the marketplace. Many times, these bills purport to help the destitute, but actually help multinational corporations or prop up dictators that might otherwise be deposed by their people.

The other point to take into consideration on legislation and House resolutions is that intentions are not enough. It is not enough to want to solve a problem with legislation, and name a bill to that effect. The crafters of the legislation need to demonstrate a clear and honest understanding of the problem, in order to put forward a realistic strategy to solving it. Too many times, I just don't see that. Instead I see more taxes, more restrictions, more violations of the Constitution, and more unintended consequences.

One shouldn't judge legislation based on titles, good intentions, or what someone says the bill will do. Imagine if all the legislation in the history of this country actually did what the title of the bills proclaimed they would do. How very different this country would be! There would be no poverty, no drugs, no crime. In fact if it was that easy, Congress by now would have probably repealed the law of gravity, and supply and demand as well, and replaced them with unlimited wealth and given all Americans the power of flight. What a fanciful world our legislators live in at times!

Though I am at times accused of being mean-spirited regarding the many bills I vote against, I don't so much think of my vote as against the legislation, as much as FOR the Constitution, according to my duties as a Congressman.

 

Back to homepage

Leave a comment

Leave a comment