Press Releases McCains Call for Yet Another Bailout Must be Opposed, Says Barr
October 8, 2008 9:54 am EST
Atlanta, GA So far this year, the federal government has spent or loaned nearly $2 trillion to bailout Wall Street, the housing industry, automakers, commercial banks and others, notes Bob Barr, the Libertarian Party candidate for president. But thats par for the course for Washington, which already has run up a national debt of nearly $10 trillion and planned a pre-bailout deficit of a half trillion dollars for 2009. What Washington knows best is how to waste money, says Barr.
In yesterdays debate, Sen. John McCain, who likes to pose as the taxpayers friend, came up with yet another bailout idea. He wants the government to use $300 billionwhich it doesnt haveto buy up bad mortgages in order to prop up housing prices. Yet, it was the artificial inflation of housing prices that got us into this mess in the first place, Barr explains.
Moreover, Congress already has approved a $300 billion housing bailout measure supported by Sen. McCain. On top of that, Congress agreed to another $200 billion or more to bail-out the housing finance giants Fannie Mae and Freddie Mac. Then there is the recent $700 billion bailout of Wall Street, which Sen. McCain voted for," notes Barr.
"Where does Sen. McCain believe all of this money is going to come from? Barr asks.
When do Americans, who have been responsible with their moneythat is, who havent bought too much house and didnt think the good times would never endget a break? Sen. McCain, Sen. Barack Obama and the other members of Congress who have supported one bailout after another have turned fiscal responsibility into a suckers game. It is time for someone to speak up for those who play by the rules and pay the nations bills, Barr adds.
Theres no meaningful difference between the two major parties, notes Barr. The American people need and deserve real change. Only a vote for Bob Barr and the Libertarian Party will change Washington, he adds.
Libertarian Party presidential candidate Bob Barr represented the 7th District of Georgia in the U. S. House of Representatives from 1995 to 2003.
October 8, 2008 9:54 am EST
Atlanta, GA So far this year, the federal government has spent or loaned nearly $2 trillion to bailout Wall Street, the housing industry, automakers, commercial banks and others, notes Bob Barr, the Libertarian Party candidate for president. But thats par for the course for Washington, which already has run up a national debt of nearly $10 trillion and planned a pre-bailout deficit of a half trillion dollars for 2009. What Washington knows best is how to waste money, says Barr.
In yesterdays debate, Sen. John McCain, who likes to pose as the taxpayers friend, came up with yet another bailout idea. He wants the government to use $300 billionwhich it doesnt haveto buy up bad mortgages in order to prop up housing prices. Yet, it was the artificial inflation of housing prices that got us into this mess in the first place, Barr explains.
Moreover, Congress already has approved a $300 billion housing bailout measure supported by Sen. McCain. On top of that, Congress agreed to another $200 billion or more to bail-out the housing finance giants Fannie Mae and Freddie Mac. Then there is the recent $700 billion bailout of Wall Street, which Sen. McCain voted for," notes Barr.
"Where does Sen. McCain believe all of this money is going to come from? Barr asks.
When do Americans, who have been responsible with their moneythat is, who havent bought too much house and didnt think the good times would never endget a break? Sen. McCain, Sen. Barack Obama and the other members of Congress who have supported one bailout after another have turned fiscal responsibility into a suckers game. It is time for someone to speak up for those who play by the rules and pay the nations bills, Barr adds.
Theres no meaningful difference between the two major parties, notes Barr. The American people need and deserve real change. Only a vote for Bob Barr and the Libertarian Party will change Washington, he adds.
Libertarian Party presidential candidate Bob Barr represented the 7th District of Georgia in the U. S. House of Representatives from 1995 to 2003.
