Dec 10 2008
No….more….bailouts!
Ladies and gentlemen, it’s time for this bailout nonsense to stop. Now the government is set to take over running our auto industry in exchange for yet another soon-to-fail bailout. Getting beyond the fact that this is socialism on an unprecedented scale in a country that is supposed to be based on free markets and individual liberty, it is also becoming painfully obvious that it’s not even working.
Bank of America, reportedly a recipient of bailout money, is among the vast majority of similar banks who were given funding to loosen the credit markets….who are NOT lending money. They are sitting on the bailout money, or even using it to buy other banks. Bank of America’s refusal to extend credit, which was the intent of the bailout, caused a company to fail. Only after severe pressure and poor PR did Bank of America offer to make a new loan.
And how are all those poor homeowners doing, the ones facing foreclosure for not paying mortgages they knew they couldn’t afford and never should have qualified for in the first place? We passed a big housing bailout bill back in July, remember? They’re still not paying their mortgages!
People and institutions who were not responsible and prudent with their own funds are not being responsible and prudent with funds they get handed to them? Imagine that!
It’s time to put and end to this nonsense. Republicans in Congress, such as they are, need to stand up to this destruction of our country and our way of life before it’s too late. As Patrick Henry said:
“There is no longer any room for hope. If we wish to be free–if we mean to preserve inviolate those inestimable privileges for which we have been so long contending–if we mean not basely to abandon the noble struggle in which we have been so long engaged, and which we have pledged ourselves never to abandon until the glorious object of our contest shall be obtained–we must fight! I repeat it, sir, we must fight!”
Granted, he was talking about going to war with England, but the principle is the same. We have to stand for what being an American is supposed to mean, before it no longer means anything. Socialism does not work. It fails everywhere it’s tried, from Cuba to North Korea to the Soviet Union. It’s already failing here, because if people don’t have to worry about failing they have no incentive to produce. The people who were supposed to be helped by the bailout aren’t using the money to get out of their self-imposed situations, because they no longer feel like they have anything to fear by failing to produce or pay their bills. They just sit back and wait for the government to provide, at the expense of those who still feel that their lives and obligations are their own responsibility.
If the majority of the country falls under this way of thinking, America is over. The country that invented the idea of individual liberty over government will have fallen to the very thing we fought a revolution to escape.
