White House Defends Bailout, “it’s not Socialism”

 Last Friday the white house once again defended the bailout bill, this time addressing claims that it is a socialistic policy.

The federal government’s $700 billion bailout of Wall Street, which includes purchasing shares in the nation’s banks, does not undermine free market capitalism, the White House said on Friday.
 
“We’re very, very far away from that line of socialism, wherever that’s drawn out there,” White House spokesman Tony Fratto said.

 He continued:

“There’s absolutely zero appetite for government ownership and government control of private businesses, and that should be clear to everyone,”

 Well you know what? It isn’t clear to me, I see the government taking over the banking system with no requirement to ever give control back to the private sector. That sounds like socialism to me.

 Today the government threw even more money at AIG and took partial ownership in the company. That also soundls like socialism to me. And it sounds like socialism to many others.

“He says it doesn’t cross the line into socialism, but it does,” Gamrat told CNSNews.com, referring to Fratto. “We do have a precedent with Chrysler. That did work, but there was a plan involved. The problem now is that we don’t have a plan. The Treasury is spending $700 billion without a cohesive plan of what to do with it.”

 No exit strategy, where have we heard this before? The government is taking over more and more private companies and we are just supposed to sit back and watch? We are supposed to believe that the government will make it all better for us? When has the government taken over any industry and made it better? NEVER! We are supposed to trust the government to willingly give back power that it seized from private companies?

 America as we know it is slipping away, the government owns the economy, the mortgage industry, the banks, AIG, soon it will own the automobile industry and it won’t stop there. Where will the tentacles of the government reach next?

 This government takeover of the economy and business through purchases in the name of helping the American people must be stopped.

 The white house claims that this is not socialism, but it sure does smell like socialism to me.