California Libertarian Alliance

“Since the Panic of 2008 reached its climax in September of that year, the U.S. government has done many things to further devastate the economy — the partial nationalization of financial institutions, which prompted Hugo Chavez to declare that “Bush is to the left of me now,” the bailout of AIG, the $787 billion stimulus package, the public-private investment program, and the government takeover of General Motors and Chrysler. More troubling than the endless bailouts and stimulus packages (which are already terrible in that they create even more misallocation of resources and worsen the fundamentals of the economy) is the expansion of government control over businesses that accepted bailout funds. Using the fact that these businesses received taxpayer dollars as an excuse, the U.S. government stepped up its interventionist economic policy to the detriment of property rights and the rule of law.”

Serenity Wang looks at the Bush/Obama forced march to socialism http://www.campaignforliberty.com/article.php?view=107

“Last week, General Motors finally declared bankruptcy. Many in government thought $20 billion in taxpayer dollars would save the company, but as predicted, it only postponed the inevitable. The government will dump another $30 billion into GM and take a 60 percent controlling interest for it. Public officials are now involving themselves in tactical business decisions such as where GM’s headquarters should move and what kind of cars it will build.”

“The promise that this is temporary and will eventually be profitable is supposed to ease the American people into accepting this arrangement, but it is of little comfort to those who remember similar promises when the American taxpayers bought Amtrak.”

Full Column by Rep. Ron Paul @ http://www.freeliberal.com/archives/003839.html

America’s third largest party Wednesday called on Congress to terminate the remainder of stimulus spending citing new polling data showing a plurality of Americans now believe what Libertarians have said since January – Obama’s stimulus package is too big, too expensive and doesn’t help the economy.

“Despite a Jan. 10 White House report that the Obama spending explosion would keep unemployment under eight percent, it instead grew to 9.4 percent,” said William Redpath, Libertarian National Committee Chairman, citing both a January White House report selling the “stimulus” package, and new Labor Department statistics released last week placing unemployment at a 26-year-high, with 14.5 million workers now jobless.

Full Statement by The Libertarian Party @ http://www.lp.org/news/press-releases/libertarians-say-%E2%80%9Ccancel-stimulus-spending%E2%80%9D