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




Bringing LIBERTY to Capitol Hill -- 2008
Saturday Morning, September 20, 2008, 10:30am

A Discussion of The President's Saturday Morning Radio Address

Click here to listen to a replay of the September 20, 2008 Ozarks Virtual Town Hall

Notes and Summary of the President's Address: Bailing out Lenders

THE PRESIDENT: Good morning. This week, Americans marked seven years since the terrorist attacks that shook our Nation on September 11, 2001. On that day, we witnessed unspeakable destruction perpetrated by evil men.     (continued below)

How the President Differs from the American vision of "Liberty Under God":

  • America was founded on the philosophy of "Liberty Under God."
    • "Liberty" means freedom from government suppression of ideas and confiscation of wealth
    • "Under God" means we have a personal responsibility to love God and neighbor.
    • Human beings are endowed with the right to property by God, not the government.
  • The original American Dream: Everyone dwelling safely under his own Vine & Fig Tree
  • America's Founders spoke of this as "an Experiment in Liberty" (1787-1887)
    • The "experiment" was a success: a Free Market made America the most prosperous and admired nation in history
  • In the 20th century, the experiment in liberty was replaced with another experiment: an experiment in central planning
    • also known as "corporatism," "fascism," and "socialism," America is no longer prosperous and admired, but bankrupt and despised.
  • The original American dream of personal, private ownership, has been replaced with private indebtedness and public control.
  • Nothing in the President's Agenda reduces socialism and promotes Free Markets.
  • The President has forgotten the limits placed on his authority by the Constitution. He does not have the Constitutional authority to spend a trillion dollars

President Bush's
Saturday Morning Radio Address

Another Perspective:
"Liberty Under God"

THE PRESIDENT: Good morning. This is a pivotal moment for America's economy. Problems that originated in the credit markets and first showed up in the area of subprime mortgages have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers and to businesses seeking to expand and create jobs. The Problems originated with the government. The government encouraged people to go into debt who shouldn't have gone into debt.

Confidence in government should be eroded. Confidence in the government's monetary system should be eroded.

"Investors" believed they could make money by buying bad debts. They had "confidence." They should not have. Government is now taking money from those who correctly did not have "confidence" and is giving it to those who had misplaced confidence.

We should not make lies our refuge.

As a result, the government is acting to protect our Nation's economic health from serious risk. Our free enterprise system rests on the conviction that the Federal government should intervene in the marketplace only when necessary. Given the precarious state of our financial markets and their vital importance to the daily lives of the American people, government intervention is not only warranted, it is essential. The government is acting to protect lenders, not "the nation." Government action is designed not to protect "the General Welfare," but to protect special interests.

"Our free enterprise system??" On what planet? The U.S. is arguably one of the most socialist nations on earth. The government takes 60% of everything you earn by working, to fund projects which are not necessary. They are not even Constitutional, and some Constitutional projects (e.g., the Post Office) are not run by the government by necessity.

"Free enterprise" means profit and loss. The government is protecting special interests from losses. That's not "free enterprise," it's just plain old fascism.

In recent weeks the Federal government has taken a series of targeted measures designed primarily to stop the problems of individual firms from spreading more broadly. But more action is needed. We must address the root cause behind much of the instability in our markets. America's economy is facing unprecedented challenges, and we're responding with unprecedented action. What is the root cause of bad debt? Could it be the government encouraging debt, by enticing debtors to write their mortgage interest off?
My Administration is working with Congress on legislation which will approve the Federal government's purchase of illiquid assets, such as troubled mortgages, from banks and other financial institutions. This decisive step will address underlying problems in our financial system. And it will allow financial institutions to resume lending and get our financial system moving again. What is an "illiquid asset?" It is something that can't be sold easily. Something that can't be sold in a Free Market. Nobody wants to buy bad debts. Nobody has confidence in the debtors. But if the debts aren't bought, the bankers take a loss. So the government is FORCING YOU to buy debts you don't want to buy, so that YOU take the loss instead of the banks. Welcome to "our free enterprise system."
The Department of the Treasury is also acting to restore confidence in a key element of America's financial system, by offering government insurance for money market mutual funds. For every dollar you have invested in an insured fund, you'll be able to take a dollar out.  
The Federal Reserve is also providing more liquidity to money market mutual funds, which will help ease pressure on our financial markets. by forcing YOU to liquidate assets that you have no confidence in.
The Securities and Exchange Commission has issued new rules temporarily suspending the practice of short-selling on the stocks of financial institutions. This is intended to prevent investors from intentionally driving down particular stocks for their own personal gain. as opposed to the personal gain of the bankers.
Finally, when we get past the immediate challenges, my Administration looks forward to working with Congress on measures to bring greater long-term transparency and reliability to the financial system.  
These measures require us to put a significant amount of taxpayer dollars on the line. But I'm convinced that this bold approach will cost American families far less than the alternative. Further stress on our financial markets would cause massive job losses, devastate retirement accounts, further erode housing values, and dry up new loans for homes, cars, and college tuitions. The first people who should lose their job are government regulators who act as catalysts for bad debt.

Nobody is better at devastating retirement accounts than the federal government and the Federal Reserve.

Who benefits from college tuition loans? Arguably not the students, who walk away with socialist brainwashing and huge student loan debts.

In this difficult time, I know many Americans listening may be wondering about the security of your finances. Through the FDIC, every savings account, checking account, and certificate of deposit is insured by the Federal government for up to $100,000. The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit. And this will not change. Lehman Brothers was in existence for over 150 years.
In the long term, Americans can have reason to be confident in our economic strength. America has the most talented, productive, and entrepreneurial workers in the world. This country is the best place in the world to invest and do business. And as we've seen repeatedly over the past eight years, we have a flexible and resilient system that absorbs challenges, makes corrections, and bounces back.  
We will weather this challenge too -- and we will do it together. This is not a time for partisanship. I'll work with Democrats and Republicans alike to steer our economy through these difficult times and back to the path of long-term growth. Thank you for listening.  

Kevin Craig's Platform:

Additional "Liberty Under God" Resources

What Would America's Founding Fathers Do?

The men who threw tea into the Boston Harbor over a tax of 3 pence per pound would not be happy with a tax ten times greater on every gallon of gas. Those who took up muskets over a total tax burden of less than 3% would not be happy with the fact that the federal government now takes more than half of everything you earn.

Today it is illegal for public school teachers to teach their students that the Declaration of Independence is really true (and not just an outdated historical document). The federal government is clearly at war with everything the Founding Fathers stood for.

America's greatest Americans would abolish today's federal government.

Muskets are Not an Option

There are two reasons why we should not take up arms to pull off the violent overthrow of the federal government, even if America's Founders would surely do so. First, the feds have nukes. Second, violent revolution is unChristian and unBiblical. We must beat our swords into plowshares and use persuasion to abolish tyranny. This is time for a revolution of ideas.

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.

Make Congress Read Their Bills Before Voting

Make Congress Read Their Bills Before Voting
Make Congress read every word of every bill they create before they vote on it.
Urge your Representative and your Senators to sponsor's “Read the Bills Act” (RTBA).
TWIC - A Backdoor Real ID Card
Real ID is dying. But the Department of Homeland Security has a new plan to subject every American to a national ID card anyway. They plan to pick off one occupational field at a time, starting with the maritime industry. One man is fighting back. Meet him, and help stop this backdoor Real ID plan.
Stop the Killer Horse Hormones
The FDA "outlawed" the use of Estriol, an estrogen medication that's bio-identical to human estrogen. Doctors must now prescribe animal-derived estrogen instead. Are bio-identical hormones dangerous, while animal-derived hormones are safe? No. The practice of medicine is moving to chemically identical to human hormones and away from animal hormones. Learn why the FDA decided to endanger women's health in this way, and take action.
End Asset Forfeiture
If the government suspects you used your house or car in a crime, they can take it and sell it at auction. They don't even have to prove your guilt. They call this practice civil asset forfeiture, but it's really theft. It violates the 4th, 5th, 6th, 8th, 9th and 14th Amendments. It also encourages law enforcement to put profits before justice. Tell Congress to end civil asset forfeiture.
End Asset Forfeiture

Iraqis Vote

Support 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 more »

Make Congress read the laws it passes!

The 'No Legislation Without Representation' Conference

Make Congress read every word of every bill they create before they vote on it.
Urge your Representative and your Senators to sponsor's “Read the Bills Act” (RTBA).

Unelected bureaucrats create tens-of-thousands of new dictates each year. Making rules is the job of Congress, not bureaucrats. has drafted the “Write the Laws Act” to end bureaucratic “legislation without representation.” Click here . . .

Cap and Trade

"Cap 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 more »

Support Ron Paul's “American Freedom Agenda Act”
The politicians have done great harm to this country in response to the 9-11 attack. A bill has been introduced that will undo much of that harm.
Learn More »

Strike at the Root

Iraq Waste

Iraq Waste
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 more »

Stop The War FOR Terror

Stop 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:

The The Democratic Radio Address was delivered by Presidential candidate Barack Obama. He didn't say a word about the Federal Reserve creating money out of thin air for bankers to lend to those who can't pay the loan back.

Click here for a replay of this edition of the Ozarks Virtual Town Hall