Congress's Christmas Bailout Bonus

Rep. Jeff Flake (R-AZ): Fannie Mae, Freddie Mac, AIG, CitiGroup, the 'Big 3' and the union bosses all appear to be getting what they want this season, but the taxpayers are left with the looming debt - and an increasingly sluggish economy to boot. Merry Christmas!

In the past few months the federal government has dangerously overreached into the free market in an effort to jump start the economy. The government - or to be honest, the taxpayer - has already allocated nearly $1 trillion to help with mortgage foreclosures, to prop-up many of the nation's financial institutions, and to provide a bailout, er...bridge-loan to the auto industry.

Now the Democrats are talking about spending another $500-700 billion more for 'infrastructure improvements' and other measures to stimulate the economy and create jobs. Here we go again. The last thing we need is the government in the job creation business. Does anyone truly believe government is more efficient in allocating capital than the free market?

During the holiday season we all want to give more and help those that are less fortunate. If Congress truly wanted to get into the Christmas spirit, the first thing it should do is remove the financial barriers to job creation and economic expansion. How about letting people keep more of their money and spending it as they see fit?

Here's hoping Congress finds the Christmas spirit...soon.
Best Regards, Jeff

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