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Tipsheet

Conservatives Dare to Question Bailout

Today's NYT features an article which hits the nail on the head regarding why this bailout was especially dangerous for conservatives, who have struggled to re-brand the GOP:
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"Just as they were trying to reassert themselves as a party of fiscal restraint, President Bush, on his way out the White House door, was asking them to sign off of on a $700 billion bailout built on taxpayer dollars, with very few questions allowed.

“You were being asked to choose between financial meltdown on the one hand and taxpayer bankruptcy and the road to socialism on the other and you were told do it in 24 hours,” Representative Jeb Hensarling of Texas, head of the conservative group, said. “It was just never going to happen."
Last night, McCain made a statement about how if Obama had his way, we would have been out of Iraq before the surge even happened.  Patience was a virtue when it came to Iraq, and it occurs to me that this is similar to what is happening right now as we attempt to craft a clean bill.  That's not to say we should waste time here -- but I do think Members should at least know what they are being asked to sign...
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Those who supported the Paulson plan based simply on his word -- argued there was not enough time to debate the bill.  They essentially fear-mongered, arguing that the consequences were so dire that we should be willing to set aside our Constitution to avert disaster.  Dissent would not be tolerated; Conservatives, they insisted, should just sign it or risk being blamed for the disaster. 

Well, so far, I think that has proven to be a bogus argument meant to stifle debate and discussion in favor of a rush toward socialism.  We need a clean bill which will solve this economic crisis without creating an even worse future crisis.

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