Bringing LIBERTY to
Capitol Hill -- 2008
Saturday Morning, July 19, 2008, 10:30am
A Discussion of The President's Saturday Morning
to listen to a replay of the July 19, 2008 Ozarks Virtual
Notes and Summary of the President's Address -- Energy
THE PRESIDENT: Good morning. This is a challenging time for families
across our nation. I know many families are worried about rising prices
at the pump and declining home values. So this week my Administration
took steps to help address both these challenges. (continued
How the President Differs from the American vision of
"Liberty Under God":
- "The Housing Crisis" and "the Energy Crisis"
cannot be solved by Washington D.C. until Washington realizes that
both problems were caused by Washington D.C. in the
- The Federal Reserve System has destroyed
the dollar, our nation's currency, raising the prices of energy,
housing, and everything else we buy. The
government admits that $100.00 today is worth only $4.52
compared to 1913 when the Fed began.
- The government has been led by environmentalist lobbies, and has
intentionally, deliberately and purposefully limited the supply of
energy, raising its price, and creating the present
"crisis," because environmentalists
hate human comfort and industrialization.
- Government regulation and manipulation of the mortgage market is
unconstitutional and has created the "housing crisis."
- Americans would not need mortgages for their homes if government
were not taking two-thirds of everything they
earn. Direct taxes take one-third of everyone's income, while
indirect taxes take one-half of everything that's left after direct
taxes. This destroys the ability of parents to pass this wealth to
children in the form of a first home, causes mothers to work outside
the home, and forces Americans into debt. Average Americans pay half
a million dollars in interest over the life of a home.
Saturday Morning Radio Address
"Liberty Under God"
|THE PRESIDENT: Good
morning. This is a challenging time for families across our
nation. I know many families are worried about rising prices at
the pump and declining home values. So this week my Administration
took steps to help address both these challenges.
family may be worried; President Bush isn't.
The best way the Administration can solve the problem of rising
gas prices and declining home values is to stop trying to solve
the problem of rising gas prices and declining home values. These
problems were caused by government in the first place.
|To help address the
pressure on gasoline prices, my Administration took action to
clear the way for environmentally responsible offshore exploration
of key parts of the Outer Continental Shelf, or OCS. Experts
believe that these areas of the OCS could eventually produce
nearly 10 years' worth of America's current annual oil production.
So on Monday I lifted an executive branch prohibition on
exploration in these areas.
apology for the executive branch prohibition on exploration in
these areas. No admission of error. The problem was caused by the
full month has passed since I called on Congress to lift a similar
legislative ban, and Congress has done nothing. This means that
the only thing now standing between the American people and the
vast oil resources of the OCS is action from the United States
ploys. The real issue here is that the government has been causing
high prices by its policies, and now the government will claim
credit for "solving" a problem it created. With no
admission of guilt or apology to the American people.
resources online will take time, and that means that the need for
congressional action is urgent. The sooner Congress lifts the ban,
the sooner we can get these resources from the ocean floor to the
gas pump. Democratic leaders need to show that they have finally
heard the frustrations of the American people. They should match
the action I've taken, repeal the congressional ban, and pass
legislation to facilitate responsible offshore exploration.
controlled the legislature for six years under President Bush. Why
didn't they do what Bush is now chastising Democrats for not
doing? This is pure political hypocrisy.
|In the short term,
America's economy will continue to depend on oil, but in the long
term our economic future depends on promoting alternative energy
technologies. So my Administration has worked to expand the use of
alternative fuels and raise fuel efficiency standards. We're
investing in new advanced batteries, plug-in hybrids, and hydrogen
fuel cells. We're working to expand the use of clean, safe nuclear
power, solar and wind power, and clean coal technology. With these
steps, we're enhancing America's energy security.
a politician know what our future depends on? Would a President in
the days of whale oil have known anything about nuclear power? Why
should politicians be predestinating our future?
Washington D.C. has no constitutional
authority to "invest" your money in the energy
businesses that promise to vote or make campaign contributions.
challenges in the housing market, my Administration announced
steps this week to help increase confidence in Fannie Mae and
Freddie Mac. These two enterprises play a central role in our
housing finance system, and we must ensure that they can continue
providing access to mortgage credit during this period of stress
in financial markets.
should play no role whatsoever in encouraging people to go into
Secretary Paulson has worked with Federal Reserve Chairman
Bernanke, the companies, and the government regulators on a plan
to strengthen these enterprises. I urge Congress to swiftly enact
this plan into law. And I also urge Congress to pass legislation
that strengthens the independent regulator of Fannie Mae and
Freddie Mac, modernizes the Federal Housing Administration, and
allows state housing agencies to issue tax-free bonds to refinance
enterprises are completely unconstitutional. They should be
abolished. They should not be bailed out.
challenges we have faced, our economy has demonstrated remarkable
resilience. Exports have continued to grow, productivity growth
has remained strong, and while economic growth in the first
quarter of this year was slower than we would have liked, it was
the challenges caused by the government . . . .
|Thanks to the
economic growth package we enacted, American families have more
cash in their wallets. We now have delivered more than $91 billion
in tax relief to more than 112 million American households this
year. And in the coming months, we expect more Americans to take
advantage of these rebates, and inject new energy into our
|I have great
confidence that our economy will pull through this difficult
period, because I have great confidence in the boundless,
innovative spirit of the American people. This is a Nation
that has faced tough challenges in the past and overcome them, and
we will do so again. With sound
policies in Washington and the ingenuity
of our citizens, our economy will emerge from this period
stronger and better than before.
policies in Washington" is a contradiction in terms. A
"housing policy" from Washington is both
unconstitutional and unsound. An "energy policy" from
Washington is both unconstitutional and unsound.
The rhetoric about "the boundless spirit and ingenuity of
our citizens" is true, but hypocritical. Washington does not
really believe the market we freely create can overcome all
challenges. Washington politicians truly believe we are
incompetent and selfish, and Beltway insiders are omnicompetent
|Thank you for
Kevin Craig's Platform:
Additional Libertarian Resources
Freddie, and a Primer in Finance | William L. Anderson
- Stop the
Printing Press! | Congressman Ron Paul
Capitalism | FT.com
- Notes on
the Fannie Mae/Freddie Mac Bailout | Robert Higgs
Fannie Mae and Freddie Mac | Michael S. Rozeff
Freddie, Fascist | Llewellyn H. Rockwell, Jr.
Things Get Too Big to Fail
and Paulson: Economic Prostitutes | Michael S. Rozeff
- Let the
Bankruptcies Roll | Michael S. Rozeff
- Fannie and
Freddie | Rep. Ron Paul
Crumbling of Fannie Mae | Bill Bonner
- Fannie Mae: Another New Deal
Monstrosity - Karen De Coster and Eric Englund - Mises Institute
Mae Distorts Markets - Robert Blumen - Mises Institute
- Freddie, Fannie, and Curses
on FDR - Llewellyn H. Rockwell, Jr. - Mises Institute
Mae, Freddie Mac, and Housing Finance: Why True Privatization Is
Good Public Policy
Out of the Way | Anthony Gregory
Mega-Bailouts Begin | Will Grigg's Liberty Minutes
- End the
Out Fannie and Freddie | Arnold
Perspective on Freddie and Fannie | Arnold Kling: Library of
Economics and Liberty
- Why the
Bail Out of Freddie Mac and Fannie Mae: is Bad Economic Policy |
Begins | $5.3 trillion bailout triggers economic meltdown.
- Tax Rebates and the Housing Market | Ozarks
Virtual Town Hall - March 29, 2008
- Stimulating the Economy, Preventing Recession | Ozarks
Virtual Town Hall - March 15, 2008
- The Alternative Minimum Tax and the Mortgage Mess | Ozarks
Virtual Town Hall - December 8, 2007
- The Subprime Mortgage Mess | Ozarks
Virtual Town Hall - September 1, 2007
you're not being told | DownsizeDC
- Too Big
to Fail? Long-Term Capital Management and the Federal Reserve
- Senate Should Reject Housing Bailout, Says Bob Barr
Revolution Won't Come in a Day
John Adams once wrote that the American
Revolution began in 1761, when Massachusetts attorney James Otis
began legal challenges to the Writs
of Assistance. He lost the case, but "American
independence," Adams wrote, "was
then and there born." Now do the math. That means it took 15
years to convince the rest of America to declare Independence
(1776). Then another seven years of war was required before a
Peace Treaty was signed (1783), and then six years before the
Constitution was finally ratified (1789). That's almost 30 years. (And
Jefferson said we shouldn't go 20
years without another rebellion!) How can we hope to convince
Americans to fight for principles they were never taught in government
schools? We need to be in this battle for the long term. "Eternal
Vigilance is the Price of Liberty."
The Internet Can Speed up the Revolution
Here are ways you can help.
Communicating with Government and Media
- Contact Congress -- this
is from the JBS website, powered by "CapWiz," from Capitol
Advantage. Lots of organizations use capwiz. If you don't want to go
through the JBS, search for capwiz
on Google and find another organization that uses it.
Notice that you can also contact media through this webpage.
- Action E-List
Sign up for the JBS Action E-List and be notified when you can
make a critical difference on important issues.
an Iraq Referendum
Americans keep debating when, how, or if to leave Iraq. Maybe
we should ask the Iraqi people what they want. After all, it's
their country. Tell Congress to request that the Iraqi
government hold a public referendum on the U.S. occupation. Learn
and Trade" is not the way
The politicians seem to be unifying around "cap and
trade" as a way to cut CO2 emissions. If they take this
step it may be the largest increase in the size, scope, and
intrusiveness of government since the creation of Medicare.
Worse still, it may not even achieve its purpose. Please tell
Congress to oppose "cap and trade." Learn
Big government prospers through failure. Each new failure is
used to justify more spending and new powers. Wasteful spending
in Iraq is the latest example. One way to change this is to hold
government accountable. A new bill in Congress seeks to provide
some of the needed accountability. Please support it. Learn
the War for Terror
U.S. policy has inflamed the Middle East. It has made
terrorism more likely rather than less. We seem to be fighting a
war for terror, rather than on
terror. This policy must stop. The place to start stopping is with
Iran. We must not attack Iran. War with Iran would
devastate our economy, disrupt world oil supplies, and recruit
more terrorists. Click
here to stop this war before it starts.
The Democrat Party Radio Address:
Democratic Radio Address was delivered by Senator Patty Murray of
Washington, who suggested a dozen ways that government can tell oil
companies how to run their businesses.
Government does not have the constitutional authority to run the
Government does not have the entrepreneurial know-how to run the
The provision of energy, like the provision of , groceries,
clothing, consumer electronics, and everything else that Americans
enjoy as part of the highest standard of living in human history, are
the proper domain of "greedy capitalists," competing against
each other for the patronage of consumers. The federal government has
no Constitutional authority to meddle in the Market, which has
succeeded beyond the wildest imaginations of those who signed the
Constitution. Every action the government takes to make things better,
makes things worse, creating a "crisis" that justifies more
government control, making things even worse, diminishing our lives in
the long run (though the politicians will always point to some
short-term benefit to justify their unconstitutional intervention).
for a replay of this edition of the Ozarks Virtual