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.
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
The Week in Public Finance: Several Shades of Bad News3 hours ago
Los Angeles Failed to Collect $1.8 Million in Overtime Reimbursements7 hours ago
American Wages Might Explain Puerto Rico's Economic Troubles7 hours ago
Majority of Americans Say Confederate Flag Isn't a Symbol of Racism7 hours ago
5,000 Evacuated Following Tenn. Train Fire8 hours ago
Gerrymandering Likely to Get Worse in States8 hours ago