The Next Government Bailout

by: freedom works | published: 11 14, 2009

You know the list.

First, there was the mortgage bailout that rewarded reckless borrowers and high-flying lenders who made bad decisions when the market was booming…

Then taxpayers had to endure the TARP abomination as we were told Wall Street needed the money…

Then there was Obama’s infamous “stimulus” plan; more easy money for irresponsible banks and businesses…

And then the auto-bailout turned a failing General Motors into “Government Motors” overnight.

Think Obama and his liberal allies in Congress have had enough? Think again!

SIGN THE PETITION TO CONGRESS

FreedomWorks has learned that big businesses are negotiating their next deal right now behind closed doors…the “Energy Bailout,” which will benefit a handful of rent-seeking companies such as Duke Energy and Caterpillar Construction through the passage of a massive cap and trade energy rationing scheme that will help their bottom-lines, but stick taxpayers with higher taxes and higher energy prices.

The cap and trade bill has already passed the House of Representatives and companion legislation has been introduced in the Senate as well. Should it pass, cap and trade would hit American families hard, with costs estimated as high as $1,300 per household by the year 2015. In addition, cap and trade would stifle economic growth and weaken American businesses.

Still, some companies like Duke, Caterpillar, and others that belong to the so-called USCAP (U.S. Climate Action Program) coalition are actively working with Obama and others on the Left to pass a bill because they have negotiated sweetheart deals that could mean literally hundreds of billions of dollars to their businesses…never mind how it will increase energy costs, hurt jobs, and weaken our economy as a whole. This is not unlike many of the banks and gold-plated investment houses that worked to game the system and carve out their own deals during the debates over TARP and the stimulus.

At FreedomWorks we support capitalism and entrepreneurship and want to see American businesses and industry succeed, but through the free market and not through high-paid lobbyists negotiating self-interested backroom deals in Congress. Cap and trade amounts to nothing more than just another taxpayer-funded bailout and its time to tell Congress enough is enough!

Sign the Petition and let Congress know this next bailout will not stand!

add a comment