For taxpayers’ sake, please let Freddie DIE!!!

I get the feeling that American taxpayers are starting to feel like they’re in the movie Groundhog Day. You know, when Bill Murray’s main character keeps waking up and reliving the same day, seeing the same people doing the same things, over and over and over…

We’re waking up every day to news of new bailouts. Today it comes from Freddie Mac (again). Even more frustrating is the fact that we know this government-owned company has a history of corruption and poor management, yet taxpayers continue to fork over billions and billions of dollars to cover the toxic mortgages. Why? Are we scared of irresponsible people who cannot afford a house in the first place of defaulting on their home loans? Are the Democrats afraid of losing the votes from these folks if Freddie doesn’t get another bailout? Is Freddie Mac simply another vehicle for the Obama administration to control another big part of our economy at the expense of tax paying, law abiding Americans?

With the new $10.6 billion bailout, the total amount we’re on the hook for: $61.3 billion. Worst yet, the bailout isn’t working very well. The housing market is still in shambles and the unemployment rate remains high. Now imagine if the $61 billion was used for other programs, such as more grants and incentives for people to start new companies or invent new products or expand existing businesses. Instead of spending money to keep people in houses they cannot afford, why couldn’t we have spent that money to stimulate the small and medium-sized businesses which are the true growth engine of our economy? Get people working and earning money again. That’s the best solution to stave off a higher jobless rate as well as allow people to pay for housing (either owning or renting).

The Obama administration refuses to acknowledge that the individual is the basic element of our economy. Create opportunities and incentives for the individual and the rest will follow. Handouts only breed more laziness. If we can enrich the individual, then he or she will make good use of that capital reward. The individual will then be able to engage in a wide range of stimulating economic activities: consume, lend, borrow, etc.

Unfortunately, nothing this administration has done results in the enrichment of the individual. Instead, the policies of this administration only produced one thing: expansion of government, more power for Washington.