Today the House was split on the bailout legislation, and as a result it was rejected. For all truly in support of small government and reduced government intervention this was a major landmark rejection. I was so happy to see that my Representative rejected the bill (I thought she may give it a thumbs up) that I sent Michelle Bachmann an email thanking her for not going along with this horrible piece of legislation. If you want to see what your representative (or any for that matter) voted click here.
Also, if you want to see what those over at the Mises Institute are saying, click here. David Bartels actually just pointed me to this blog yesterday, and I couldn't believe I hadn't seen it before! They have some great insight as far as economic reasons/implications for minimal government intervention.
David Price, as expected, voted for this legislation. He is the incumbent candidate in North Carolina's fourth district who is being challenged by B.J. Lawson. I have become a big fan of Lawson the past couple months, and decided to inform Congressman Price that his vote for the bailout motivated me to make a donation to Lawson's campaign. I wonder how he feels knowing that Lawson has donors from all over the country?
This is pretty dated but also a humorous beginning to the Lawson Campaign:
As far as the bailout goes, my Finance prof. this morning said that the bailout would be the beginning of turning things around but in reality we have no idea how long this downward spiral will go for. She said it's like walking down a dark path and not knowing when the path will finally end.
I'm sorry, but why should we as taxpayers be FORCED to buy up billions of dollars of bad debt? The national debt is already ballooning, and the day that the United States will run a surplus seems decades away.