The House of Representatives passed a massive “stimulus” bill that should be called “The American Socialism Act of 2009.” Not a single Republican voted for it, and 11 Democrats voted against it. Not what President Obama had in mind when he asked for bipartisan support.
This weekend the US Senate reached agreement on a slightly reduced version. Three Republicans say they will vote for it, preventing a filibuster.
Libertarians have long believed there is no meaningful difference between the old parties. Since September, Democrats and Republicans alike have invoked the failed economic theories of FDR and John Maynard Keynes of bigenormous government and massive deficit spending; their only disagreements have been over insignificant details. One might hope the House vote showed Republicans living up to the small government rhetoric that they abandoned during the Bush years, although the truth more likely is they merely voted in opposition, as minority parties do. But the expectation of the Senate vote is demonstrating that Republicans have become the “Stupid Party”.
Why the “Stupid Party”? Republican (and a few moderate Democrat) Senators believe they have ‘fixed’ the stimulus bill by stripping some insignificant spending from it. They do not understand what the next step is as the bill moves toward ratification.
Will somebody please tell these fools how a bill becomes law? When the House and Senate approve different versions of the bill, it goes to a conference committee. The Libertarian Party of Georgia predicts that the stimulus bill will come out of committee with even more spending than the original House version! At that time the conference report will get an up-or-down vote in each house, with limited debate and no amendments permitted.
Senate Republicans will have two choices. They can help the Libertarian Party by voting to pass the stimulus expropriation bill — their vote for enormous government will make the principles of the Libertarian Party stand out like a shiny half-dollar surrounded by all that green folding money in the collection plate. Or they can vote against the conference version and let the Democrats enjoy complete responsibility for a doomed vision of government expropriation of the economy.
It is the belief of the Libertarian Party of Georgia that the free market will resolve the present economic struggle by realigning supply, demand, and pricing. It will not be painless, but it will be rapid. Contrary to common rhetoric, it is not capitalism that caused this mess; rather, it was government action (cough Community Reinvestment Act cough) that artificially interfered with pricing and valuation, and created the ‘moral hazard’ of what appeared to be risk-free investing. The additional government interference of TARP and the current stimulus plan will only make matters worse.
Once again, the Libertarian Party of Georgia responds to the shrill warnings of doom from stimulus supporters by advising our elected representatives: “Don’t just do something, stand there!”
