December 12, 2008
For Immediate Release
Contact: William Westmiller, (805) 493-4332
Liberty Caucus: Auto maker Bailout Rewards those Responsible for Financial Collapse, Penalizes all Americans
Thousand Oaks, CA — A national caucus of Republican activists is urging members of Congress to oppose the Big Three automakers bailout of a corrupt financial regulatory system. “This proposal is a government takeover of yet more of the already stifled U.S. economy,” said Republican Liberty Caucus Chairman William Westmiller, “and when and where will the bailouts stop?” he asked.
“For decades, auto makers have been forced to comply with arbitrary congressional dictates that are not supported by consumers,” said Michigan RLC Chairman and National Board member Dan Sheill. “The solution is to cut regulations, not to give taxpayer dollars for the continuation of poor government mandates. The auto industry doesn’t need a dictatorial ‘czar’ to run their businesses,” said Sheill, “but the industry needs the freedom to respond to consumer demands for safe, efficient, and inexpensive transportation.”
The Caucus [www.RLC.org] opposes any taxpayer payoff to rescue those who made bad investments in any sector of the economy. “This plan violates basic principles of honest business practices and free-market capitalism by transferring money from taxpayers directly to three failed automakers,” said Westmiller. “Individuals and firms can only be held to account if they are allowed to both succeed and profit, to sustain losses and sometimes even fail.”
The Republican Liberty Caucus favors clear legislation protecting individuals against fraud, misrepresentation, and theft. It opposes any law that benefits one class of Americans at the expense of another, including any form of financial guarantee or subsidy that rewards failure or encourages foolish investments.
The RLC applauds the stamina and fortitude of multiple Republican members of Congress who have opposed any corporate bailout, expansions of government fiscal20power, new burdens on taxpayers, or any further assaults on the value of the dollar through inflation. “Those Republicans voting for this package and other similar bailouts need to pause, reflect, and ask themselves to reexamine their core beliefs,” said Westmiller. “If these Congressional ‘leaders’ don’t change their willingness to spend away Americans’ savings, they are simply going to be voted out of office,” he warned.
The Republican Liberty Caucus is a political membership organization working within the Republican Party in support of individual rights, limited government, and free enterprise. The Caucus has members in all 50 states and 20 chartered state chapters. The RLC has urged all of its members to communicate to their representatives in Congress their total opposition to any auto maker bailout.
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RLC Statement of Principles and Positions:
“We oppose all restrictions on the voluntary and honest exchange of value in a free market … We oppose all legislation that concedes Congressional power to any regulatory agency, executive department, or international body. We support the phase out of any government subsidies and incentives that support or favor any business or special interest … We favor the privatization of all government assets an a transition to free market management and services for all programs that exceed the enumerated powers of the Constitution.”