Op-Ed - Sen. Brogdon comments on bailout

Op-Ed
Sen. Brogdon
comments on bailout

Although I am not an economist, I can tell that the Congressional action taken on the bail out last week does not add up. Common sense will reveal that if over-borrowing caused a debt crisis, the last thing you do is borrow more money to correct the problem. As usual, Congress missed a great opportunity to protect our liberty and instead opted to do the political two-step.

One of the major problems created by the politicians was the formation of Fannie Mae and Freddie Mac. Both of these are government-sanctioned monopolies that are not susceptible to SEC regulations or audits. Many members of Congress receive millions of dollars in campaign contributions from executives of these institutions. It is easy to realize why Congress is AWOL at best, and proven to be greedy tyrants at worst, when protecting the taxpayers.

The $800 billion dollar bail out included hundreds of millions of dollars in special tax credits. The tax deals had nothing to do with reforming the credit crisis. As a matter of fact it only added fuel to the fire by increasing an additional $100 billion dollars of new debt. It is apparent that those tax credits enticed many members of Congress to vote for the bill. To keep the people off balance the political two-step is the dance of the day. Congress created a crisis and is now offering to save us.

I am appalled that many Congressmen who supported the bail out have stated they were not sure it would even work, but they believe that government had to do something. Instead of adhering to Constitutional limitations, eliminating agencies, and adopting "free market" solutions, politicians have pontificated utter nonsense of more debt generation to solve the problem. This has produced a much deeper financial abyss for all taxpayers to crawl out of.

We the people have been cheated out of a grand opportunity to reform the financial debacles created by Congress. Instead, the Potomac fever that plagues so many politicians in Washington has now infected all of America. The virus of greed and corruption has made our economy sick and has put savings and retirement accounts on life support for millions of Americans. Congress must be held accountable at the polls for creating unconstitutional agencies that have devastated our nation’s economy. Congress has “helped” enough! Now it’s time for us to return the favor. We can cool the fever by eliminating the members of Congress that continue to spread the virus.

I am afraid that we have taken a giant step towards socialism. I am also concerned that our leaders have shown little understanding of their Constitutional duties. This recent bail out has encumbered more of our freedom and our financial stability than most of us realize.

Sam Adams said, “We should humble ourselves to the Supreme Ruler and pray that the rod of tyrants may be broken into pieces and the oppressed made free.” The freedom of our nation is at stake. American Patriots must assume their place in history and reclaim the liberty handed to this generation. This is the hour to pray for our future, and pray that statesmen would rise and stand in the gap to protect our freedom. It’s obvious; this Congress has miserably failed to do so.

Dedicated to Liberty,

Randy Brogdon

Owasso, Ok

State Senate Dist. #34