Question: What do conservatives think about the plan to bail out the financial market?
Answer: By and large conservatives are not happy with the federal government's decision to bail out the bloated corporate giants.
Conservatives, for the most part, oppose vehemently any kind of welfare state -- and, as Newt Gingrich says, the proposed bail out plan amounts to nothing more than corporate welfare for the rich.
Many conservatives were excited when the government turned a blind eye to Lehman Brothers, and let the financial giant go bankrupt. Their tuned change last week, however, when the bailout plan was announced.
Here's a sampling of what conservatives are saying about the US Treasury's proposal:
Paleoconservative Pat Buchanan:
"What we are witnessing is what happens to a prodigal nation that ignores history, and forgets and abandons the philosophy and principles that made it great.
"A true conservative cherishes prudence and believes in fiscal responsibility, balanced budgets and a self-reliant republic. He believes in saving for retirement and a rainy day, in deferred gratification, in not buying on credit what you cannot afford, in living within your means ...
"What we are witnessing ... is how empires end."
Neoconservative William Kristol:
"based on conversations with economists, Wall Street types, businessmen and public officials — I’m doubtful that the only thing standing between us and a financial panic is for Congress to sign this week, on behalf of the American taxpayer, a $700 billion check over to the Treasury."
Conservative US Rep. Mike Pence:
"To have the freedom to succeed, we must preserve the freedom to fail. Any solution to our present crisis must preserve our essential economic freedom.
“Congress should delay consideration of any legislation until the facts and competing solutions can be fully debated, consider alternatives to massive government spending and figure out how to pay for the solution through budget cuts and reform instead of more debt or taxes.
"Congress must not hastily embrace a cure that may do more harm to our economy than the disease of bad debt."
Former House Speaker Newt Gingrich:
"You can't be for capitalism on the way up and socialism on the way down, and you can't be for a welfare state for the rich."
-- From an interview with The Washington Times.
Constitution Presidential Candidate Chuck Baldwin:
“In the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We accept the vague term ‘inflation’ to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake –This meltdown will ultimately spell disaster for every American.
“So far, the only solution being talked about is more of the same failed monetary policies that got us into this mess in the first place – more fake money, more debt, more usury."
Index to Bailout FAQs:
Conservatives, for the most part, oppose vehemently any kind of welfare state -- and, as Newt Gingrich says, the proposed bail out plan amounts to nothing more than corporate welfare for the rich.
Many conservatives were excited when the government turned a blind eye to Lehman Brothers, and let the financial giant go bankrupt. Their tuned change last week, however, when the bailout plan was announced.
Here's a sampling of what conservatives are saying about the US Treasury's proposal:
Paleoconservative Pat Buchanan:
"What we are witnessing is what happens to a prodigal nation that ignores history, and forgets and abandons the philosophy and principles that made it great.
"A true conservative cherishes prudence and believes in fiscal responsibility, balanced budgets and a self-reliant republic. He believes in saving for retirement and a rainy day, in deferred gratification, in not buying on credit what you cannot afford, in living within your means ...
"What we are witnessing ... is how empires end."
Neoconservative William Kristol:
"based on conversations with economists, Wall Street types, businessmen and public officials — I’m doubtful that the only thing standing between us and a financial panic is for Congress to sign this week, on behalf of the American taxpayer, a $700 billion check over to the Treasury."
Conservative US Rep. Mike Pence:
"To have the freedom to succeed, we must preserve the freedom to fail. Any solution to our present crisis must preserve our essential economic freedom.
“Congress should delay consideration of any legislation until the facts and competing solutions can be fully debated, consider alternatives to massive government spending and figure out how to pay for the solution through budget cuts and reform instead of more debt or taxes.
"Congress must not hastily embrace a cure that may do more harm to our economy than the disease of bad debt."
Former House Speaker Newt Gingrich:
"You can't be for capitalism on the way up and socialism on the way down, and you can't be for a welfare state for the rich."
-- From an interview with The Washington Times.
Constitution Presidential Candidate Chuck Baldwin:
“In the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We accept the vague term ‘inflation’ to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake –This meltdown will ultimately spell disaster for every American.
“So far, the only solution being talked about is more of the same failed monetary policies that got us into this mess in the first place – more fake money, more debt, more usury."
Index to Bailout FAQs:
- What do conservatives think about the federal government's $700 billion plan to bail out the financial market?
- Was the $700 billion corporate bailout necessary?
- What did John McCain hope to accomplish by returning to Washington to work on the Wall Street bailout?
- Is the Bush Administration responsible for the financial crisis of 2008?
