I never thought I'd say this, but I think (on this issue anyways) I may actually agree with a Republican from Texas. Now I know my fellow dead presidents who know me well are laughing at this comment, but my fellow Americans...Today Rep. Jeb Hensarling said it perfectly as Congress voted on the $700 billion dollar bailout plan, ultimately voting it down 228-205. In his address shortly before the vote, he pointed out this plan was "too much bailout and not enough workout." Mr. Hensarling, I could not agree with you more.
This bailout, as I mentioned in previous posts, made Treasury Secretary Henry Paulson the manager of the largest mortgage company in the world, influencing the world economy, and potentially keeping a few politicians happy for a short time. Let me remind you of something, however...a short time is not good enough.
As bank after bank looks for buyers and prays their faulty management decisions don't catch up with them, should we let the government put us in debt even further? Hensarling has it perfectly, informing us we will be "inheriting the mother of all debts." Is it worth complaining about the $500 you lost because of bad investment choices? Many may say so, but when your taxes go up to keep someone else who didn't do their homework from losing their shirt, let me ask you again what you think. As Hensarling said it, "If you lose your ability to fail, soon you will lose your ability to succeed."
We can't have it both ways folks. Either we let the government infringe upon our liberties...our "freedom to fail," or we take it like the strong willed people we are and pick ourselves back up again. The choice is ours.
"Ultimately The federal government will become the guarantor of last resort and that madame speaker does put us on the slippery slope to socialism." -Jeb Hensarling-9/29/2008
Let's pretend for a moment that this bailout passed. The government becomes the largest financial entity in the world...too large to fail...but who will bail it out from its already inherent flaws? We've gotten so entangled into financial matters that if the U.S. Treasury falters...we are up a creek with a very small paddle. Our money is used as a standard worldwide, but no longer is backed up by actual wealth...no gold...no silver...only the dreams of a people and enough prayer to make even the most devout sick to their stomachs. Why should we let a government who has led us astray financially for decades tread this path further?
It is said the rank and file of Congress has revolted this week. I must agree and thank God they have! I must commend those 228 men and women who had the foresight to realize this plan, regardless of the concern of the moment, was wrong for our country...wrong for the long term. Mr. Hensarling is to be praised for telling it like it is...the first step to socialism. The National Bank Plan is dead and let's hope there is no revival!
To watch Rep. Hensarling's comments in the House, please visit: http://www.youtube.com/watch?v=CdsuQAHGIjs
Respectfully,
Mr. Jackson
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2 comments:
Well said Mr. Jackson! I enjoyed the video link as well. Keep up the great quality of work m friend I look forward to more of the same.
In Liberty,
Mr. Jefferson
Nice work Jackson! Though I'm not sure if you're talking negatively about Socialism or not, haha.
Anyways, I too was relieved that the bill was voted down. I also signed a petition to Congress which told them we (the people signing) were absolutely against the bill, so I'm glad to see that our representative democracy occasionally still works.
Food for thought though...isn't it interesting that the new version of the bill is being voted on in the Senate first instead of the House? Less people means a greater chance of it passing. Interesting.
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