With Friends Like Pelosi . . .

By Richard Cohen
Tuesday, March 24, 2009; Page A13

It is still early, not even two-thirds of the way through the vaunted 100 days, and we are all admonished not to make judgments or dire predictions. Yet enough has been done so that, without fear that history will someday mock me, I can state that Nancy Pelosi is off to one hell of a start. The president, alas, is a different story.

The tale of two political figures was written one day last week when Pelosi went down into the well of the House and pitched the bill to heavily tax the bad people at AIG who received big bonuses. Using the tax code to exact punishment for political reasons is both bad policy and bad law -- why not put gun-shop owners and cigarette manufacturers in the 100 percent bracket? -- but it hurtled through Pelosi's branch of the government with nary a hearing and few discouraging words, and only the mildest suggestion from the president that the bill was really a dumb idea.

The pressure for the legislation was great. In just a day, Charlie Rangel, chairman of the House Ways and Means Committee, went from opposing the idea to introducing the very bill he had earlier denounced. Rangel had all the stock phrases ready -- stuff about shattered dreams and greedy executives, which is all true enough -- but he was right when he first said that the tax code should not be used as a "political weapon." With such an about-face, it's a miracle he did not wind up in traction.


As for Obama, around the time this extremely ill-considered piece of legislation was flying through Congress and Pelosi was waxing very hot indeed on television, the cool president went on the Jay Leno show. His appearance was historic, we were solemnly told, but it also turned out to be useful for him to get out of town. The most toxic asset in Washington was fast becoming Congress, where the Democratic leadership was threatening to send him an awful bill that could be very hard to veto. With friends like these . . .

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