letter: vote down the bailout

Via Ryan, here is a letter he wrote to Bush, Paulson, and Georgia senators:

I oppose the proposed bailout plan because I do not believe that Government intervention into the private market is in line with free market capitalism. While I realize that some companies are extremely important to the backbone of this economy, and the world economy as a whole, I do not believe it is within the realm of democracy for the Government to decide to do this.

The Government is setting a horrible example for the future to any major business, whether it be an airline, car company, insurance provider or a banking institution that they need not be afraid of failure. This is the ultimate example of companies making horrible decisions just to turn a little more profit, and failing in the process. That's what free market capitalism is all about though. Millions of businesses come and go through the cycle in the marketplace, and those who are outstanding and conduct their operations properly are the ones who experience lasting power.

This problem, however, stems to a lot more than improper lending and practices. The US Government's position on illegal immigration is also partially to blame. With a tighter control on immigration, the United States would be able to put more low level jobs that are currently occupied by illegal immigrants ( non-tax paying illegal immigrants none the less) into the hands of Americans. With proper work in their lives, perhaps people would learn a little more work ethic that would transfer over to their financial lifestyle.

While lenders are horribly to blame for the housing crisis, the United States citizenry also takes some of that blame on them. If people would learn to live within their means instead of going for the biggest and the best, we would not have such a fallout from the sub-prime mortgages issue. Again, people with jobs learn to live within their means better, hearkening back to my argument on illegal immigration.

Furthermore, our ridiculous support of foreign oil (from OPEC) is playing to the downfall of the economy. While I realize that trade is an important part of every economy, the fact that we are shipping so much of our money outside our borders has contributed to the weakening of the dollar and the downfall of consumer confidence in spending.

It is hard to believe that a Government with a national debt of nearly $10 Trillion has the ability to post a $700 billion bailout for failing (free market) companies. While I agree with the choice to help Fannie May and Freddie Mac (as they already have ties to the Gov't) I don't think this massive sweeping bailout is a good idea.

I hope this letter has some effect on your thoughts on the matter, and I ask you to please vote down the bailout plan.

Sincerely,

Ryan Duckworth

this Congress is failing me

So in my previous post, I mentioned opening the floor to contributors...here is the first! Surprise, it's Ryan. (probably not much of a surprise, hehe) but if you read this, and in reading my posts have something you really want to share (that is too long or involved to be a "comment"), then forward it on to me and you may just see it posted here.

Here we have Ryan's letter that he recently sent to newspapers, congressmen(&women) and Pres. Bush:

I support the Republican Party's general plan to address the energy crisis.

It is outrageous that the congress would break for its 5 week August break without first addressing the issues that are hammering our country into a recession. It is irresponsible for the Democratic Congress, lead by the lackadaisical, self seeking Nancy Pelosi, to walk out on this issue. For whatever reason, the face that Congresswoman Pelosi believes that Congress "deserves" this break is simply sad.

Offshore drilling has been banned for many years. While the dangers to the environment still exist, oil companies have made leaps and bounds in progress on how to prevent issues from popping up and damaging the environment.

On top of the ludicrous idea that we should abandon offshore drilling, we're facing more and more pressure from oil speculators. Rampant speculation in the commodities futures market is driving up prices out of proportion to marketplace demands. The problem is speculators are increasingly buying and selling commodities such as oil even though they have no intention of using the product. The unregulated speculators are pocketing billions of dollars at our expense. The cost of food has gone
up, the price at the pump has gone way up, and I'm already concerned about how much more it will cost to heat my home this winter.

To lower oil prices for all Americans we need to increase domestic supply (that's right, increase), exploration, alternative energy sources and conservation. We also must protect bona fide speculation and hedging.

It is with a heavy heart that I say that this Congress is failing me, a voter, in its attempt to actually care about domestic issues. It is my understanding that this Congress has passed fewer bills than any Congress in the history of America. It's nice to know that Congress can take a 5 week vacation from work while all of America reconsiders their personal vacations after the rising cost of fuel has made it tough to take one.

If we don't learn to rely on domestic supply, our American tax dollars and our hard earned paychecks will keep going to overseas OPEC nations that in return are buying up American land and businesses. Please keep America for Americans and help us be self-reliant.

In closing, I would hope that if recalled by President Bush, Congress would take the initiative to care about what matters to America, care about the big issue looming in front of us, and care about the one thing that will shape the future of our economy for years to come. I hope that Congress does not spend too much time wondering why it has a pathetic 9% approval rating, when it's so very clear to all of us.

Ryan Duckworth
Atlanta, GA