to Quote Dr. Tom Cobern, Senator from OK regarding the millionaire
bailout bill : (or Billionaire bailout bill if you prefer)
"This bill does not represent a new and sudden departure from free
market principles as much as it represents an emergency response to
congressional actions that have ignored free market principles, and
our Constitution, for decades. If anyone in Washington should offer
their resignation it should be the members of Congress who peddled
the fantasy of free home ownership without risk. No institution in
our country is more responsible for the myth or borrowing without
consequences than the United States Congress."
"As much as members of Congress want to find scapegoats, the root of
this problem is political greed in Congress. Members of Congress from
both parties wanted short-term political credit for promoting home
ownership even though they were putting our entire economy at risk by
encouraging people to buy homes they couldn't afford. Then, instead
of conducting thorough oversight and correcting obvious problems with
unstable entities like Fannie Mae and Freddie Mac, members of
Congress chose to ignore the problem and distract themselves with
unprecedented amounts of pork-barrel spending."
"Taxpayers who want to ensure that this doesn't happen again should
send a very clear message to Washington that it's time for Congress
to live within its means and restore the principles of limited
government and free markets that made this country great. I will do
everything in my power to ensure that this bill does not lead us down
a slippery slope of European style socialism and slow economic
growth. I will also promise taxpayers that I will do everything in my
power to block what I expect will be hundreds of attempts by
politicians in Washington to continue business-as-usual borrowing and
spending in the next Congress. In a time of crisis, American families
have to make hard choices between budget priorities. So should
Congress. If politicians want to create new programs they should
eliminate duplicative programs or reduce funding for less important
programs. The only way we can put this crisis behind us is for
Congress to rejoin the real world of budget choices and consequences
which, as we have seen in recent days, can be ignored for only so long."
This is one of the most coherent things I have seen coming out of the
general vicinity of the District of Columbia.
Loren Faeth
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