Constitution Party Condemns Federal "Bailouts" of Private Industry
Dateline: Kent, Washington--The Constitution Party of Washington supports the Bailout Resolution of the national Constitution Party, passed at its national committee meeting, 11-13 June 2009, in Newark New Jersey, which condemns "'Bailouts' of any and all private industries as they are completely unauthorized by, and are in fact, in violation of specific sections of the Constitution of the United States and, further, because they constitute a cruel and unfair tax on the posterity of our nation."
- Whereas, "Bailouts" have increased the federal debt that will be handed down to subsequent generations; and
- Whereas, "Bailouts" violate the Fifth Amendment's Due Process clause by allowing the federal government to interfere with a private contract; and
- Whereas, our Founders were emphatic that the public treasury should never become a public trough; and
- Whereas, the Federal government is not granted the power to invest in and take over private industry; and
- Whereas, industry "Bailouts" begun by Republican President George W. Bush and escalated by Democrat President Barrack Obama, are unconstitutional and these presidents had no authority to fundamentally alter the relationship between the federal government and private businesses; and therefore be it resolved
- That the Constitution Party (both national and state) strongly condemns such "Bailouts."
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