Colorado Libertarians Message Board › Bob Barr on the Fannie Mae/Freddie Mac Bailout
|A former member||
You may have heard or read media reports about actions yesterday in Congress to deal with the housing debt crisis and to bail out two private lenders known as Freddie Mac and Fannie Mae.
The bill passed the House of Representatives and will be taken up in the Senate and once through that pork factory, President Bush has said he will sign it. If I were your President I would veto it so fast, heads would spin.
The bill - and that's exactly what it is - is a bill you are going to be expected to pay! It's for an estimated $400,000,000. That is, of course, $400 Billion that we don't have, so more borrowing is ahead. Your share of this expense? About $1,300.
And that's on top of the more than $31,000 you already owe!
In 2001, the national debt crossed $6 Trillion. Today, it is closing in on $10 Trillion. Our debt is growing faster than at any time in our nation's history and there is no end in sight.
Yesterday I issued a statement to the media blasting their actions. Today I ask your help in getting out the message that President Bush and Senators Obama and McCain are wrong for bankrupting our future with more and more debt.
First I ask that you forward this email to as many of your friends as possible. The average American doesn't understand what's going on. They have a sincere, but misguided, desire to help people less fortunate than themselves at this time of economic crisis. But this bailout only rewards people who made bad decisions and bails out those who profited from them.
Second, please consider a campaign contribution to help fund our daily operations. Your gift of $5 or as much as the legal limit of $2,300 will make a difference.
I thank you for your consideration.
P.S. - You may also want to call your U.S. Senators to tell them to vote no on the big-bank bail out. And remember, if I were your President, this bill would be dead on arrival at the White House. Please help me change government. Thanks again.
Paid for by Barr 2008 Presidential Committee.
Federal law requires us to report the name, address, and name of employer and occupation for any individual whose aggregate contributions total over $200 in a calendar year. Corporate contributions and gifts from foreign nationals are prohibited. Personal Credit Card gifts only. Contributions are not tax deductible for income tax purposes. Limit of $2,300 per person per election and $4,600 per couple if signed by both parties and drawn on a jointly held bank account.
The worst of this is that many of the folks I talked to at the Arapahoe County Fair were very supportive of the government bailout. Why can't these statist cheerleaders just mail in their own money and leave me with mine?
One thing the main stream media will not report on is that this bill will also:
- Raise the national debt ceiling $800 Billion dollars to 10.6 trillion
- Require all credit card transactions be forwarded to the IRS
Below is one non-main stream media comment:
US National Debt Limit Raised Ahead of Budget Busting Bailout Legislation
The Market Oracle
Sunday, July 28, 2008
- With President Bush no longer threatening a veto, the subprime mortgage and Fannie and Freddie “bailout” bill is now sailing through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion. Who says that politicians don’t plan ahead? -