House Republicans Stall the Bailout Bill

From this article:

“There is overwhelming opposition to the original $700 billion Paulson plan among Republicans in Congress,”

 Note: the article linked above incorrectly identifies Mike Pence as a Democrat. 

That was Rep. Mike Pence. You can read his official statement on the bailout plan here. This plan is being rushed through just so politicians can say that they did something. But just doing something doesn’t mean it is definitely the right thing. House Republicans seem to be the ones who are holding up this deal from going through. These are the same people who stopped the illegal alien amnesty bill that was sponsored by John McCain and Ted Kennedy with President Bush’s approval. Now hopefully they will stick to their guns on this issue and come up with something a little more reasonable than the socialization of our economic system.

Pence continues:

“I oppose the Paulson plan and though I believe it’s important for Congress to act in this situation, nationalizing every bad mortgage in America is not the answer,”

 And:

Republicans are working diligently now to develop free-market alternatives and with the kind of government intervention that is short lived and borne by Wall Street,” Pence told CNSNews.com. “That’s what we are going to fight for.”

 While most politicians are proclaiming that something has to be done right away or else we are doomed this one group of conservatives are saying that we need to step back, take a deep breath, and relax. We don’t need to find a solution today, the country will not fall apart overnight if we don’t bailout these people right now. This will be the third bailout and after each of the first two we were told that everything was now alright. Yet here we are again, where will it stop?

 It is time for cooler heads to prevail.