On Tuesday, James Bopp Jr., RNC vice-chairman, submitted a resolution to the RNC that labels the recent “bailouts” of the finance industry and the Big 3 as “socialism”. This is a bit different for the RNC, as the organization normally does not involve itself in policy-oriented activity (past establishing the party platform). Fox news reports:
The statement says the rescue packages are “moving our free-market based economy another dangerous step closer toward socialism.”
“What was needed, and is still needed, to fix the banking industry is not a bailout, but rather a commitment to fiscal responsibility,” the resolution says. “Members of the Republican National Committee call for all members of Congress to oppose any and all future bailouts that might come before the Congress, including President-elect Obama’s public works program.”
Unfortunately, only a small percentage of the RNC members (24 out of 168) have signed off on this resolution so far, most likely because of the somewhat incendiary nature of it…after all, it basically calls out the sitting GOP president. Now that President Bush has less than a month in office, it seems that Republicans are holding back less and less on calling him out for some of his recent actions, including this resolution. The dynamics are interesting, as RNC chair candidate Ken Blackwell also spoke out on this topic this week. In an article published Wednesday, Blackwell refers to the President’s Big-3 bailout as a “Big Government Gambit” and “Bush’s most significant mistake.” Blackwell says:
Out of all the options available to President Bush, he took the worst-possible course.
His actions may not even be legal. Congress considered this bailout and rejected it, while Mr. Bush’s treasury secretary publicly said that using the original bailout funds for automakers would be unlawful without congressional action. The legality of these actions cannot be challenged unless the right party brings a lawsuit, but the fact that ordinary taxpayers cannot bring a lawsuit against federal spending does not change the fact that everyone agreed the first bailout could not be extended to automakers. President Bush therefore usurped the legislative function, doing something Congress refused to do.
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