Issue Position: Recent Economic Bailout

Issue Position

I did not support the recent economic bailout and was disappointed when it passed. I was one of the frustrated citizens calling government offices and demanding an explanation. But I still wasn't satisfied with the answers I received. The national government is not a national bank. It is not designed to be, and it does not function effectively as one. Furthermore, I credit much of the current economic problems to over regulation, and the bailout only increased those regulations making it even more difficult for my business and many others to survive. I've been thankful that in the recent weeks our economy has begun to show glimpses of life. We're not nearly out of the woods. But when we are, it will not be because the federal government saved us from all of our woes. It will be because when the going got tough and the American workers were put on our backs, we didn't lay over and die. We fought through taxes, over regulation, and grim quarterly reports to establish our businesses and get out of the red ourselves!

Often people justify the bailout by saying that it is no different than a mortgage, which one takes out on a house. I, however, am a former realtor, and there is an essential difference between the economic bailout and a house mortgage. The mortgage is an investment in an asset, and if it is done properly, the investment will mature leading to a profit. However, the current economic bailout is not an investment in an asset. The types of loans used by the federal government are not going to develop into long-term economic success. They actually do just the opposite, and they put future generations of Americans in jeopardy. Once again, the first step in correcting these issues is implementing a balanced budget amendment into the federal constitution. This will force the federal government to stop spending outside its means, and it will create the necessary environment needed to pay off American debt in the future, thus allowing the next generation to take the necessary steps to free itself from the economic burden that it is inheriting.

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