Posted by
Paul on Thursday, September 25, 2008 10:12:10 PM
Government is almost always the cause of the problem, not the solution to the problem. Free markets and conservatism is the solution to the financial industry crisis, not a taxpayer funded government bailout.
President Bush and Democrats in Congress are behaving like cheap used car salesmen pressuring and scaring the American people that the consequences of not acting now with a taxpayer bailout are dire!
Democrats caused this problem by forcing private financial companies to provide home loans to the poor and illegal aliens who had no money for a down payment and no means of paying back the loan. Failed government agencies Fannie Mae and Freddie Mac existed to provide home loans to the poor in order to increase home ownership. Now we are expected to pay for politicians reckless policies and failed social experiments. Home ownership is not a Constitutional right. Those who have no intention or no means of meeting their financial obligation should not be allowed to keep their homes at the expense of hardworking taxpayers. Congress can not put an exact figure on the trillion dollar crisis, but expect the taxpayers to provide a blank check so government can nationalize the financial industry. Politicians like Senator Chris Dodd and Congressman Barney Frank who are primarily responsible for this mess should go to prison.
The $1 trillion taxpayer bailout is touted to be a financial windfall for the government. Politicians are boasting that the government will make a fortune reselling these risky loans when market conditions improve. But the taxpayer will not see a penny of it. This predicted cash windfall will be used to expand government and create more socialist policies and programs. America's ongoing creep towards socialism will go into overdrive.
The solution to this problem is free markets and conservative policies, not a taxpayer bailout. Rush Limbaugh proposed a brilliant solution today. Encourage growth and investment, and pump new money into our economy by temporarily suspending corporate taxes and capital gains taxes for one to two years. Let the failed institutions go under and let free markets take care of the market corrections. The market will recover, it always does. Our economy would be flush with new cash and would experience enormous growth if congress enacted the Limbaugh tax cut solution.
Conservative solutions and principles are timeless and simple, yet brilliant. Free our economy and the American spirit of entrepreneurship from the shackles of government and free markets will lead our country to unprecedented growth and prosperity.