Missouri's 7th District, U.S. House of Representatives




Congressional Issues 2010

More resources can be found on the 2008 Bailout page.
Congress should:
  • Stop intervening in the housing market
  • abolish federally-created lending institutions

The American ideal was living safely under one's own "Vine & Fig Tree," with no threats from government, lawyers, or bankers. The Big-Government policies of both Republicans and Democrats have turned the original American Dream into a nightmare.

On October 11, 2008, President Bush announced, "The supply of homes now exceeds demand." This never happens in a Free Market. Prices relentlessly push supply and demand together. Government-manipulated prices distort the market, creating shortages or "illiquidity."

A relatively Free Market allowed housing to become plentiful in the first half of the 20th century. Federal interference and intervention in the latter part of the 20th century has created a "crisis" in the early 21st century.

Government does not have solutions for this problem. Government is the problem.

  • Nobody in America in 2008 would want to live in the "average" house in America in 1776.
  • Everybody in America in 1776 -- even the richest -- would love to live in the average house in America in 2008.
  • Even the poorest houses in America have television, microwave ovens, forced-air heating, indoor toilets that represent a vast increase in hygiene and sanitation, plus an extraordinary range of goods and services unavailable in 1776 that transform a "house" into a "home."
  • This unimaginable increase in the standards of housing are the gift of capitalism, not socialism.

Fannie Mae and Freddie Mac

The Housing Bubble

Community Reinvestment Act

What To Do

Inflationary Finance

The Austrian Theory of the Business Cycle

Who Predicted This?

More on Fannie Mae and Freddie Mac

next: Campaign Finance, Corruption and the Oath of Office