FOR IMMEDIATE RELEASE

Texas Libertarians want Senators to vote against bailout

AUSTIN - October 1, 2008 - Wes Benedict, Executive Director of the Libertarian Party of Texas (LPT), made the following statement today.

"Texas Libertarians oppose this horrible bailout plan. Now the Senate is apparently planning to add some tax breaks and other items to buy off some Republicans. That does not change the heart of the matter, which is the purchase of $700 billion of bad debt with taxpayers' money. The senators from Texas should vote against this bad bill.

"What part of 'No' can't Congress understand? It's like the night of the living dead up there. The bailout gets killed, only to rise from the grave days later.

"If Senator John Cornyn votes for this bill, then fiscal conservatives in Texas should punish him by voting for Libertarian Yvonne Adams Schick this November.

"From a legal point of view, this bailout is totally unconstitutional. From a practical point of view, it will create tremendous moral hazard, and it will attempt to relieve short-term economic pain at the cost of serious negative long-term consequences.

"Bad companies should be allowed to fail. That's how the free market is supposed to work."

Contact:
Wes Benedict, LPT Executive Director
512-442-4910
director@lptexas.org

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Liberty — because it's right, because it works.