It is a rare occurance that I like what a politician has to say, but Sen. DeMint is "spot-on" in this speech, not just because he opposed the bailout, but because of why he opposed it and the alternative actions he recommends.
Here's a few key excerpts to encourage you to listen to or read the whole speech:
"Our own Government appears to be leading our country into the pit of socialism."
"The problem was not created by our free enterprise system. It was created by us, the Congress and the Federal government. With good intentions, we made a mess of things."
"I believe this Congress should admit its guilt, prove we have learned from our mistakes, and correct the bad policies immediately that have caused these problems. We should insist the Federal Reserve end the easy money policy. We should repeal the laws that require our banks to make risky loans, and fix the accounting requirements that force banks to undervalue their assets. We should develop a plan to break up Fannie Mae and Freddie Mac and sell them to private investors who will run them as private companies.
We should reduce corporate and capital gains taxes to encourage capital formation and boost asset values. We should also repeal the section of Sarbanes-Oxley that has driven billions of dollars of capital overseas...
We should immediately pass a law that expedites the development of our oil and natural gas reserves to help relieve the burden of high prices and gas shortages for our families. We should immediately adopt a freeze on nonsecurity discretionary spending and pass a moratorium on earmarks until we fix this wasteful and corrupting system. We should sacrifice our political pork as we ask taxpayers to sacrifice for our mistakes. "
"[W]e are trying to use this crisis to expand our power to control and manage the free enterprise system."
"We are telling people not to worry because we are going to rescue them with their own money."
Refreshing, isn't it.