Welfare By Any Other Name

By Brian Beutler

Harold Meyerson:

We are in some ways still a nation of Puritans, and we don’t much cotton to people who can’t take care of themselves and end up sponging off our generosity. We demand that welfare recipients do an honest day’s work for their checks. And now, since President Obama laid down the law Wednesday, we demand that the guys who ran our banking system into the ground abide by our pay scales in return for our bailing them out.After all, what’s the moral distinction between welfare recipients and the wizards of Wall Street, other than that the welfare recipients aren’t the ones responsible for tanking the global economy?

And, as he goes on to argue, this isn’t just about politics. Give the whole piece a read.

Update: Elana Schor reports that Claire McCaskill’s compensation restrictions were amended into the stimulus package last night.