Go H RES 199!

Submitted by Rep Todd Tiahrt (KS) and Cosponsored by Rep Bachmann, Michele [MN],Rep Bartlett, Roscoe G. [MD], Rep Carter, John R. [TX], Rep Gingrey, Phil [GA], Rep Mack, Connie [FL], Rep Moran, Jerry [KS], Rep Paul, Ron [TX], Rep Price, Tom [GA], Rep Shimkus, John [IL]

111th CONGRESS

1st Session

H. RES. 199

Providing that the Congress should stop passing massive Government bailouts.

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RESOLUTION

Providing that the Congress should stop passing massive Government bailouts.

Whereas financial markets have been saturated with well over a trillion dollars from the Government ranging from the bailout of Fannie Mae and Freddie Mac at $200 billion, Bear Stearns at $29 billion, AIG at $85 billion; Wall Street at $700 billion, the automakers at $25 billion, and Citigroup at $247.5 billion;

Whereas, in 2008, total Federal spending increased by 11 percent to nearly $3 trillion;

Whereas Congress should not rely on the same failed economic policies of the past;

Whereas, by looking in the past, we see the massive spending initiatives that occurred during the 1930s and 1970s failed to produce economic growth;

Whereas the Government has a role in helping ensure American workers and industries are free to prosper, but these bailouts are nothing more than a mere band-aid that continues to follow a pattern of throwing more taxpayer money at a problem instead of addressing the root causes of the problem; and

Whereas Congress should address fundamental reforms to help American workers and businesses achieve long-term prosperity through incentives for private-sector solutions instead of Government involvement: Now, therefore, be it

Resolved, That it is the sense of the House of Representatives that Congress should stop passing massive Government bailouts.