S.C. Rep. Jeff Duncan wants the government out of the private sector – and the Congressional candidate is looking to make a federal bill that does just that a centerpiece of his upcoming campaign.
It’s called the “Government Ownership Exit Plan,” and Duncan’s advisors correctly deduced that it might appeal to us.
Sponsored by U.S. Sen. John Thune (R-South Dakota), the legislation would prevent the U.S. Treasury from purchasing any additional ownership stake in private companies using Bush bailout funds (which all four “Republican” Congressmen from S.C. voted for, we’d like to add), as well as require the Treasury to sell any current ownership stake in private firms by July 1, 2010.
It would also “re-privatize” failed government mortgage behemoths Fannie Mae and Freddie Mac, and explicitly prevent the government from making private sector management decisions.
“This legislation is filled with practicality and commonsense, both of which seem to be lacking in Washington these days,” Duncan told FITS. “It is not the government’s role to own businesses or to take American workers’ hard-earned money in the form of taxation to invest in private companies. It is time for an exit strategy to this nonsense and the Government Ownership Exit Plan Act of 2009 sets the wheels in motion for this to take place by next year.”
Frankly, it’s sad that legislation like this is necessary in the United States of America, but such is life.
Anyway, Duncan sent a letter about Thune’s bill to every member of the S.C. Congressional delegation, a letter you can read by clicking on the handy-dandy link below …