Electric Deregulation Revisited... Likely to fail in Virginia says Richmond Times Dispatch!

Lawmakers asleep at the switch?

Or are lawmakers just selling out to special interests?

The consequences of a failed campaign finance reform policy.

A new case for term limits.

It is kind of interesting when I learn that the big boys in the mainstream media wake up and acknowledge the reality that the Iconoclast has previously reported.

Click here for previous posts.

In the Iconoclast post back in May of this year, we pointed out that electric power deregulation will probably be a bad thing for Virginia, especially for the smaller consumers.

So now we are learning that The Richmond Times Dispatch editorial staff is concluding that electric deregulation will likely fail in Virginia, with the consequences that consumers will be shortly facing power bills skyrocketing out of proportion to present conditions, like in other states.

Surprise, suprise! Electric power deregulation is going to wind up costing us consumers more money!

Duh!

What were our lawmakers thinking when they came up with this idea of deregulating the electric power industry, which was essentially dominated by a few very large public corporations overseen by the government? Did these "rocket scientists" in Washington really think lots of little upstart companies were going to jump in and drive costs down? Have you recently priced the development cost of a new power generation station... by any fuel or method of power production? How about the cost of developing or acquiring a power distribution system?

Frankly, this was a "no-brainer". Of course electric power deregulation is going to cost the consumers more money. Also, anticipate impressive profits for the big electric power generation and distribution utilities... all thanks to our lawmakers in Washington who thought it made sense to eliminate or at least reduce governmental oversight of the industry. Investors want to make money and with the government now stepping away from their regulatory role, expect that management will take advantage of the situation.

The lawmakers were apparently a little woozy from getting wined and dined too much by the lobbyists and didn't think too much about what their actions would end up doing to the average consumer.

Which brings me to another subject... campaign finance reform.

Politicians often do some crazy things and their motives are not always pure, especially when money is so important to winning elections. Candidates and office holders are always looking for more money and lobbyists are always accommodating to make sure money is available to those who can deliver for the special interests.

Given the nature of the system, we are kidding ourselves if we think that campaign finance reform is the answer or will every work. It is not ever going to work... ever!!!

Money has a way of finding its way into the pockets of people who can be bought. (Think Randy Cunningham... a war hero... and a few others in just recent months.)

A few of the politicians get caught. Others don't. But there is a lot of questionable money floating around on Capital Hill.

The Iconoclast therefore goes on record to recommend a serious reconsideration of Congressional term limitations.

This goes for both the United States House of Representatives and the Senate.

Members of Congress should be limited to no more than three, four year terms consecutively, for a total of twelve years consecutively. Presently, Members are allowed unlimited numbers of two year terms.

US Senators should be limited to no more than two, six year terms consecutively, for a total of twelve years consecutively. Presently, Senators are allowed unlimited numbers of six year terms.

If very successful and popular office holders want to wait out a term and then try again for another twelve year stint, that would be fine. But the idea of term limits is to break up the heavy advantage of the incumbency and to reduce the financial influence of special interests on elections.

All efforts to effectively control or manage campaign finance have been thus far a failure... kind of like electric power deregulation has been and will continue to be. Under the present system, Capital Hill is occupied by Senators and Members of Congress who have been effectively bought and paid for by special interests.

This is wrong and undermines the basic principles of democracy.

Unfortunately, for too many lawmakers, it is all about the money... a vicious cycle.

Only by getting new people in office on a regular basis will Americans ever realize true democracy uncorrupted by "influence buying".

Term limits now!!!