Deal or No Deal?

"This will allow the Treasury secretary to go and clean up the credit markets using basically tax dollars."-Senator Judd Gregg (R-NH)

Regardless of what kind of bill passes through the Congress - we lose. Sure Obama, Pelosi, Reid, McConnell, McCain and Boehner all gathered with Bush in a historic moment of symbolic unity. Sure, we all read about the triangle chat with Bush, McCain and Obama. But what does this really mean?

The deal isn't about if we should bail out all the risky loans (and even have money ready for those that haven't defaulted) but how we should go about it. Are we witnessing the end to what's left of the free market in America? What is next? Does Uncle Sam pay off my student loan because I took out an extra $5,000 to spend on beer and food while I was at school?

Americans took a risk and some of them lost. Banks decided to cook the books and reward themselves with millions of dollars in bonuses and ended up bankrupting their companies. Now because we are going to enter a period of slow or negative growth the government comes to the rescue? The crooks who run the lending firms get a bailout? The people who weren't approved to rent a mediocre apartment but were allowed to buy a luxury house are now able to stay in their home? What about my beer money, Hank?

There is no other word for this except - Madness. Since when does the goverment need to be there to pay for bad investments. Or a better way to put it would be: since when do the taxpayers owe it to the idiots who made investments they couldn't pay for to assume their debts? Why do we have to suffer?

And when I say suffer I mean more than just the trillion dollars we are going to pay for this. That's just the beginning. As with any government program, the first price isn't the last price. If we pay now and something happens later, we will pay again.

Second, where do we have $1 trillion dollars? I wouldn't be opposed to a law that requires all liberal billionaires to do their "patriotic duty" and pay 90% of their assets to the government to fund most of this crap but let's talk reality. This is just money we will print at the Fed. It doesn't take a financial genius to know that inflation will follow. We pay more for our goods and services as a result of this bailout.

We will pay for this socialist experiment for years to come. Meanwhile, countries are using this supposed crisis to undermine our authority in the financial world. Sec. Paulson sounds like a little kid who didn't get a new toy telling the world Americans should be scared and acting as if the world is going to come to an end over a couple hundred billion in risky loans. If there were ever a time to speak and act as leaders, it should be now.

News flash: armageddon is not upon us (at least not from this)! Let the market rule and liquidate these bad investments! Let American ingenuity flurish and instead of promising big bailouts start cutting taxes on business and on individuals. Don't promise to raise the capital gains, get rid of it! If we can simplify our tax code and let our businesses work American will have nothing to worry about. If we keep drifting over an American form of Euro-socialism, Germany may actually win their arguement.

There is still time to do something - HELP DEFEAT THE $700 BILLION DOLLAR BAILOUT & FREE THE MARKET