"What a heroic day! The people rose up against a coalition of every evil group in America: the central bank, Wall Street plutocrats, politicians, banksters, think tanks (including the pseudo-libertarian sort), big media, big academia, and big business, and won. Today we got a taste of what things may look like when the regime is finally toppled, and its theft and killing stopped. The Austrian economists are vindicated again, as is Rothbard's political analysis, and our pizza party for Mises's birthday today look on an especially festive air. The bad guys may yet beat us, but how sweet to see the CNBC types running around like chickens with their heads cut off. Now let's get to work to defend the free market and sound money, and finger the Fed and all who support it as the culprits. Oh, and by the way, congratulations, Ron Paul". http://www.lewrockwell.com/blog/lewrw/archives/023215.html Posted by Lew Rockwell at September 29, 2008 01:12 PM I could not have said this better, and agree !100%. We are in a most serious situation, and if not careful, and dilligent, could saddle ourselves with a debt that will over burden not only ourselves, but our children and grandchildren as well. we must take action to stop this now and keep it from happening again, which it surely will especially if we do allow a bail out now on out tax dollars .
1.) End the Bailouts - Congress must revoke the Federal Reserve’s authority to bail out failed businesses at your expense.
2.) Cut Taxes and Curb Regulation - If we really want to stimulate businesses and revive the market, we need to cut corporate and capital gains taxes, spurring investors to come back to the market and making it easier to attract new workers and clients. It is also time to end failed legislation like Sarbanes-Oxley, which has crippled capital markets, diminished our competitiveness, and greatly harmed small businesses.
3.) Reduce Spending - We must freeze all non-entitlement spending by the federal government at current levels and eliminate wasteful spending both domestically and in our trillion-dollar overseas budget. Our debt has to come down, and it won’t until we start living within our means.
4.) Reform the Monetary System - If we are to have long-term economic progress, we must end the system of printing money out of thin air. The current laws limiting the circulation of gold and silver-backed currency must be overturned. We can no longer base our money on the empty promises of bureaucrats that it is sound.
The market will have to adjust, and the nation will have to deal with the effects of what the government has brought upon us, but the answer is not to weaken the dollar, continue to sell our debt and national security to China and Saudi Arabia, and socialize what remains of the American free market.
The Senate will still be working on this issue, and they need to keep hearing from you. The House will almost certainly be voting on this again before the week is out, and now, with all the bad blood, all bets are off for what the next proposal will contain and how many arms will be twisted. Another vote could come as early as Thursday. k.b.