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Bailouts

America is in danger of becoming a bailout nation. First, Congress bailed out the Wall Street companies, then homeowners who borrowed too much, and then the auto industry. Altogether, the American people are indebted for several trillion dollars. These bailouts are wasteful and protect the reckless at the expense of the prudent hardworking people in our district and country.

In addition to the abuse, waste, and lack of transparency, these bailouts lead to the dismantling of our freedoms. However “well intended”, government control and ownership of the means of production enslaves the individual.

In addition to distorting the marketplace, government ownership of banks and car companies causes corporations to create allegiances with the government instead of with individual customers. Undeserving but well connected bankers, college buddies, labor leaders, and campaign contributors get preferential treatment at the expense of hard working Americans.

This policy is both unfair and a bad economic policy. Bailouts reward failure and irresponsibility. Bailouts punish those who work hard and act responsibly. In other words, bailouts encourage failure, discourage success and destroy our freedoms.