Few things are more disgusting than having our principles sold-out by our political leaders. Make no mistake, the proposed federal “bail-out” of the credit market is a sell-out of our fundamental beliefs about freedom and the role of government. The action will burden us with debt and, worse, create horrific precedent for generations to come.
As Jeff Sandefer, a board member at the Texas Public Policy Foundation, said in a podcast (hear the mp3) this week, it is irrational to entrust one man, Henry Paulson, with a $700 billion blank check of other people’s money. Better policy would be to let the markets sort out the issues and correct themselves. And it just isn’t the appropriate role of government.
Fundamentally, Sandefer added, “You cannot base your freedom on the current level of the Dow Jones Industrial Average.”
Our commitment must be to the moral righteousness of liberty, not politicians’ promises of baubles and safety.