WHERE IN THE CONSTITUTION DOES THE CONGRESS FIND THE AUTHORITY FOR THE BAILOUT?
A lot has been debated about this bailout. Will it work? Who should be held accountable? Where will the money come from? How can the government, who caused this meltdown in the first place, remedy the situation? How much money should the bailout encompass? What will happen if we do nothing?
The most important question is being overlooked. Where in the Constitution does the congress find the authority to do this? I'll tell you why next to no one is asking this question. Because the answer is....no where. The Constitution does not authorize the congress to engage in such actions. But everyone, especially those in congress and yes that includes Republicans too, seem to ignore this most vital question. Thank God there are a few conservatives, Sen.. Jim DeMint for one, asking this question, but overall, the silence is deafening.
The Constitution is a limit on the powers of the federal government. Nowhere in the Constitution is the power to nationalize bad consumer and commercial debt. Therefore, the congress has no authority to do this.
Since when have we given the federal government the power to decide which companies are allowed to survive and which companies are allowed to fail? The only entity to make these decisions is the free market.
The conservatives should be screaming from the hilltops about this. Some seem to resigned to bend over and take it where the sun don't shine. Where is the political courage? Where are those fighting for conservative values? I already see the libs laughing about Republicans supporting nationalizing the lending institutions.
Well Trent, what should we do? Let the market work! When allowed to work unfettered, the market corrects itself. New businesses and other lending institutions will swoop in and buy the debt. Entrepreneurs would do what they do. They'd find a way to make money off of the situation while providing a needed service to the community. This whole issue showcases exactly what happens when the congress intervenes in the business arena. The congress enacted laws that forced these lending institutions to make loans to unqualified people in order to bring up the home ownership of people who can't afford a home. Think about that. There was a reason these people couldn't afford to buy a home....they didn't have the money to buy a house. So simple, yet the government forced the lenders to make these loans under the threat of stiff penalties and fines if they did not. And now they are blaming wall street and the lenders for being greedy? Let's get real!
And if you think this bailout is going to simply pertain to bad mortgage debt....just wait. This is going to spread into all areas of the economy. Why can't the government realize they should just get out of the way? Why are the citizens of this country allowing our government to slowly but surely shoving socialism down our throats?
The most important question is being overlooked. Where in the Constitution does the congress find the authority to do this? I'll tell you why next to no one is asking this question. Because the answer is....no where. The Constitution does not authorize the congress to engage in such actions. But everyone, especially those in congress and yes that includes Republicans too, seem to ignore this most vital question. Thank God there are a few conservatives, Sen.. Jim DeMint for one, asking this question, but overall, the silence is deafening.
The Constitution is a limit on the powers of the federal government. Nowhere in the Constitution is the power to nationalize bad consumer and commercial debt. Therefore, the congress has no authority to do this.
Since when have we given the federal government the power to decide which companies are allowed to survive and which companies are allowed to fail? The only entity to make these decisions is the free market.
The conservatives should be screaming from the hilltops about this. Some seem to resigned to bend over and take it where the sun don't shine. Where is the political courage? Where are those fighting for conservative values? I already see the libs laughing about Republicans supporting nationalizing the lending institutions.
Well Trent, what should we do? Let the market work! When allowed to work unfettered, the market corrects itself. New businesses and other lending institutions will swoop in and buy the debt. Entrepreneurs would do what they do. They'd find a way to make money off of the situation while providing a needed service to the community. This whole issue showcases exactly what happens when the congress intervenes in the business arena. The congress enacted laws that forced these lending institutions to make loans to unqualified people in order to bring up the home ownership of people who can't afford a home. Think about that. There was a reason these people couldn't afford to buy a home....they didn't have the money to buy a house. So simple, yet the government forced the lenders to make these loans under the threat of stiff penalties and fines if they did not. And now they are blaming wall street and the lenders for being greedy? Let's get real!
And if you think this bailout is going to simply pertain to bad mortgage debt....just wait. This is going to spread into all areas of the economy. Why can't the government realize they should just get out of the way? Why are the citizens of this country allowing our government to slowly but surely shoving socialism down our throats?
