United Liberty

While the $700 billion bailout seemed a certainty only two days ago, outcry from the public and bi-partisan concern about giving the Treasury Department carte blanche has put some speed bumps in the path of passing this historical legislation. Though there is some finger-pointing going on between the two parties about who caused this crisis in the first place, it appears that an equal number of Republicans and Democrats are now questioning the wisdom of Secretary Paulson’s bailout plan and are willing to take a deep breath, step back, and consider all the options before saddling the tax-payers with this enormous and unpopular government intervention. Observing that the urgency placed on passing this plan immediately is reminiscent of Bush’s insistence on funding for the disastrous Iraq War, lawmakers are showing trepidation about making the same mistake twice. These kind of high pressure tactics are normally reserved for the used car lot, and our legislators are wise to think twice before investing the American public’s money into another Bush Administration lemon.

Bailouts Will Lead to Rough Economic Ride

By: Dr. Ron Paul - CNN

“The solution to the problem is to end government meddling in the market. Government intervention leads to distortions in the market, and government reacts to each distortion by enacting new laws and regulations, which create their own distortions, and so on ad infinitum.”

Socialism in the Treasury Chest

By: Mark Hemingway - National Review

“If you believe that the best way to handle the current economic crisis is hurling gobsmackingly large amounts of money at it, all to be used at the discretion of the Treasury secretary and the chairman of the Federal Reserve, you may well be an idiot. That’s according to a rule of thumb devised by famed investor Warren Buffett.”