A Bailout Is Not the Answer

Wednesday, September 24, 2008 4:56 PMBy: Michael Reagan
  

Congress is running around in circles trying to figure out how to handle the hot potato the Bush administration has handed them with its $700 billion bailout proposal, and how they can load it up with their own list of taxpayer-financed handouts.

If left to their own devices, they'll turn it into a giant cookie jar instead of taking the trouble to enact the measures that will boost the economy when it is in deep trouble.

The bailout is a panic remedy designed to prop up the crumbling mortgage market by buying up mountains of near-worthless paper currently poisoning America's credit system while ignoring the root causes of the nation's economic malaise.
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