Congress should NOT pass a bailout quickly

This post was written by marc on September 24, 2008
Posted Under: Letters to the Editor

Letter to the Editor

I watched President Bush speak to the nation tonight. The good news is that he came across for the first time as both presidential and articulate. The bad news is a sober, articulate, presidential George Bush is even scarier than his normal childish demeanor. He also failed to articulate any personal responsibility for his role in creating the problem. I also have a problem with the idea that we should quickly pass a solution without a thorough understanding of the problem. I do not believe that a few days is enough time to come up with a workable solution that we have confidence in being the correct solution. Whatever we do, we should at least take a few weeks to make sure we have crafted the best solution possible. After all, if we rush to make a decision and it’s a bad decision we could actually make the problem worse. And how are they going to explain that?

Furthermore, Bush has called wolf several times before. We rushed to war in Iraq without careful consideration and that was clearly a mistake. Congress also passed the so called “Patriot Act” where they rushed to judgment and gave away our freedoms as American citizens and fundamentally changing our national identity and what defines who we are as a people. So the history of rushed decisions has been 100% bad. Furthermore the discussion about giving welfare to Wall Street lacks any commitment to understanding what caused the problem and why throwing a trillion dollars at it will fix it. It might just make the beast hungrier.

And we have to consider how such a bailout will fundamentally change what used to be a free market economy. What message does this send to those who would take advantage of us knowing that the taxpayer is there acting as a rich uncle. Who other Wall Street Welfare Queens will line up to suck at the public teat? The auto industry? The oil companies? The Mafia?

This isn’t just about yet another trillion bucks. It’s about who we are as a people and as a country. If we give up who we are then what to we have left? Does the flag have meaning or is it just something we print on wrapping paper when we sell off America to Saudi Arabia and Dubai. Is “Freedom” just a brand name? Is America always going to be a “Money First” nation? Are we “Open for Business” and supposed to go shopping now? Is that who we are?

The world is watching us and they want to know if we have the fundamental fiscal morality to define ourselves to the world. Will we pass a quick fix throwing a trillion bucks at the problem and kick the can down the road? Or are we going to take responsibility and deal with it? I say, “Deal with it!” Congress should not pass anything quickly and if Congress comes home before the election then they are not doing the job the taxpayers hired them to do.

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