From a Soldier's Perspective.. the Bailout

I was reading today on a blog I often visit, www.soldiersperspective.us and found today's article particularly interesting.

These are some sections from the article, The Bailout Bust:

"And where did this money go? Well, if you ask the recipients of OUR money, it's none of your business.

"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."

The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest?

None of the banks provided specific answers.

"We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars.

Some banks said they simply didn't know where the money was going."

"Interesting how this wasted spending is okay, but "wasted spending" in the form of bringing a democracy to the Middle East isn't worth it.

In one year, our wonderful Congress and President have spent more than double what the wars in Iraq and Afghanistan have cost in the past seven years COMBINED!! And yet, for the nearly $600 billion that the wars have cost us, we've gotten two free, democratically elected governments in the Middle East, killed or captured hundreds of terrorists leaders and financiers, and kept our nation safe since 9/11. Still waiting to see exactly how these "stimulus" packages are helping anyone."

"In the words of Congressman Ron Paul, "In bailing out failing companies, they are confiscating money from productive members of the economy and giving it to failing ones." This is akin to taking my money because I'm responsibly paying my mortgage and car payment and giving it to my neighbor who is about to foreclose to prevent a bankruptcy. My neighbor would change his/her spending habits and most likely end up in the exact situation a few months or years down the road.

The biggest problem with all these bailouts is the unconstitutional nature of it all. The Constitution specifically defines the job of our Congress - to "lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States…"

"It needs to stop. My service in the military is designed to defend and uphold the Constitution. Our Legislative and Executive branches of government are NOT holding up their end of the bargain."

I share much of the author's views on the bailout... and found his perspective as particularly poignant given his service to our country in defense of liberty and our Constitution.