WASHINGTON, DC – U.S. Congressman Mike Pence sent the following letter to his colleagues today in opposition to the deal struck last night on the bailout of the financial services sector:
Our nation has been confronted by a serious crisis in our financial markets. The President and this Congress were right to act with all deliberate speed in addressing this crisis.
We now have a deal that promises to bring near-term stability to our financial turmoil, but at what price?
Economic freedom means the freedom to succeed and the freedom to fail.
The decision to give the federal government the ability to nationalize almost every bad mortgage in America interrupts this basic truth of our free market economy.
Republicans improved this bill but it remains the largest corporate bailout in American history, forever changes the relationship between government and the financial sector, and passes the cost along to the American people. I cannot support it.
Before you vote, ask yourself why you came here and vote with courage and integrity to those principals.
If you came here because you believe in limited government and the freedom of the American marketplace, vote in accordance with those convictions.
Duty is ours, outcomes belong to God.
We have fought the good fight. Now we need to finish the race and make sure that posterity and the American people know there were conservatives who opposed the leviathan state in this dark hour.
And if you do this I promise you, I will stand with you and, I believe with all my heart, the American people will stand with you as well.