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Merely the Beginning of the Bailout Parade

Posted By Conn Carroll On November 18, 2008 @ 9:09 am In Economics | Comments Disabled

Heritage U.S. Senate Relations Director Brian Darling writes in Human Events [1]:

The Democratic leadership in Congress and President-elect Barack Obama have an ambitious stimulus list, including monies for pet transportation projects, an extension of unemployment insurance, food stamps and a costly auto industry bailout (more on that below). The Bush administration has resisted more wasteful spending without a deal on one or all of the pending free-trade agreements with Columbia, Panama and South Korea.

This is merely the first of many liberal stimulus packages. President-elect Obama has signaled that a stimulus package will be his administration’s top priority in January, no matter what Congress does this week. Resisting these plans should be a top priority for conservatives, who know that government spending reduces productivity and economic growth.

Unfortunately, our newly elected officials plan to follow the same failed spending strategies of the past, rather than enact reforms that can improve our nation’s economy. Dramatically cut the size of the federal government, and the economy will thrive.


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URL to article: http://blog.heritage.org/2008/11/18/merely-the-beginning-of-the-bailout-parade/

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[1] Human Events: http://www.humanevents.com/article.php?id=29509

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