We've been waiting all day to see what Sen. Jim Bunning (R-Ky.) would say about the historic Wall Street bailout, and he didn't disappoint.
Bunning, a free market conservative who has launched one tirade after another slamming the Bush administration for the bail outs of AIG, Fannie Mae and Freddie Mac, just came through with this statement titled "Bunning declares free market dead:"
“Instead of celebrating the Fourth of July next year Americans will be celebrating Bastille Day; the free market for all intents and purposes is dead in America,” Bunning said. “The action proposed today by the Treasury Department will take away the free market and institute socialism in America. The American taxpayer has been mislead throughout this economic crisis. The government on all fronts has failed the American people miserably."
Bunning may reflect a certain frustration among free market idealists, but his sentiment seems to be more on the fringe when it compared with senators and House leaders from both chambers. Virtually every congressional leader, not to mention several key conservatives, have reluctantly backed the bail out.
Not good enough for Bunning.
“My great grandchildren will be saddled with the estimated $1 trillion debt left in the wake of this proposal. We have gotten to this point because nobody has been minding the store. Both Secretary Paulson and Chairman Bernanke should be held accountable for their inaction – and now because of that inaction – the American taxpayer is left with bill.
"We must take care of Main Street. Small businesses in Ashland, Bowling Green, and Paducah are hurting because of high taxes, and energy costs. Those small businesses are the economic engines that fuel our economy. I hope in the closing days of this Congress we can pass legislation to help those good people on Main Street rather then helping the power brokers on Wall Street.”