Sanford: No Bailout
South Carolina Gov. Mark Sanford takes to the pages of the Washington Post to denounce the bailout: An ever-expanding scope of federal commitment and power ...
South Carolina Gov. Mark Sanford takes to the pages of the Washington Post to denounce the bailout:
An ever-expanding scope of federal commitment and power is not what made this country great. Expanded power in one place comes at a cost in other places. American cornerstones such as individual initiative and an entrepreneurial spirit -- born in free and open societies with private property rights and the rule of law -- have never fit particularly well within the context of an ever-growing federal government.
For 200 years, the "business model" in our country has rested on a simple fact: that while one may reap rewards from taking risks, one should also be prepared to face the consequences of those risks. Some of the proposed actions with regard to the credit market turn that business model on its head -- absolving those who took too much risk, or bought too much house, from the weight of their own choices. If Congress passes the proposed bailout, we will be destined to have far greater problems in time, leaving those who are prudent in their finances to foot the bill for those who are not.
You can call Sanford an ideologue and you can call him a libertarian, but there is something refreshing about a politician who has a set of beliefs and sticks by them.
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