RNC Resolution Opposing Bailouts

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Resolution Opposing Federal Government Bailouts of Industries, Individuals, and State or Local Governments

WHEREAS, America is embroiled in an economic circumstance, which threatens to become a severe and prolonged recession or depression; and

WHEREAS, as a prolonged partial remedy to the current economic difficulty, the United States Congress enacted the Emergency Economic Stabilization Act of 2008; and

WHEREAS, such legislation has no resolved the current economic difficult and has instead added billions of dollars to the obligations of the federal government; and

WHEREAS, such legislation has begun the process of further nationalizing our banking and financial system, moving away from a free market-based economy toward socialism; and

WHEREAS, the federal government has already implemented other so-called bailouts, at great cost to American taxpayers, none of which has resolved our economic difficulties; and

WHEREAS, other industry groups, including domestic automakers, state and local governments and even providers of pornography are also requesting federal financial assistance or “bailouts”; and

WHEREAS, the funds to support such governmental payments can only come from increased taxes, now or in the future, or an inflated currency, either of which will be ruinous for the economy of our country; therefore

BE IT RESOLVED that the members of the Republican National Committee commend the Republican members of the Senate and the House of Representatives who have opposed the bailout legislation that has been considered; and

BE IT FURTHER RESOLVED that the members of the Republican National Committee call for all Republican members of the Senate and the House of Representatives to oppose any and all further bailout legislation; and

BE IT FURTHER RESOLVED that the members of the Republican National Committee call on all Republican members of the Senate and the House of Representatives to identify the government programs and policies that have led to the current economic crisis and to revise or repeal them in favor of government policies that promote free enterprise, free markets, lower taxes and a a sound currency.

As approved by the Committee on Resolutions, January 29, 2009

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