Looking for morality in the bailout culture

What’s the best thing to do? Where do bailouts end, and how justified are they, anyway?

The Acton Institute looks at the moral bankruptcy behind the bailouts, to give us a clue.

The stimulus bill currently before Congress highlights the unsustainable spending pace of the federal government, which is propelling us closer to an even greater moral and financial crisis. Former U.S. Comptroller General David M. Walker says that without fundamental changes to spending, the United States could go bankrupt in one generation. Walker noted, “This is not just about numbers, we are mortgaging the future of our children and grandchildren at record rates, and that is not only an issue of fiscal responsibility, it is an issue of immorality.”

If enacted, the stimulus bill would top $1 trillion in expenses when interest is added. “The nation borrowed $800 billion between the Revolutionary War through Gerald Ford’s presidency,” U.S. Congressman Gene Taylor (D-MS) observed. “In one vote, the nation is going to borrow another 800 billion. This is nuts.”

That’s a realistic view we’re not getting from mainstream media. “This is nuts.”

The never ending tide of federal bailouts is only delaying the inevitable restructuring that is needed. “I think that this is the biggest gut check we’ve ever had as a country, where do we go next, towards a politically based economy or a market based economy?” says Sanford. Put another way, do we take responsibility for the mess that we have created, or do we shirk our duty and pass the bill down the line?

Passing the bill down the line to our children and grandchildren is unthinkable and immoral. It’s on our backs to find the solution now. Whatever it takes.