UPDATE: The bailout failed in the U.S. House of Representatives – Yea: 205 Nay: 228. 95 Democrats voted Nay, 133 Republicans voted Nay. Rehberg votes Nay.

Here it is, the “Emergency Economic Stabilization Act of 2008.” Members of Congress worked on this all weekend.

The democrats have the votes to pass this, because they control the majority in Congress. It appears they lack the leadership qualities to want to go it a lone although they seem to believe in this bailout with all their hearts. If it is so right, who cares if it does not get many votes from the GOP?

I do not support this plan. First, I don’t like the amount ($700 billion), which will add to our already deep national debt. Supporters say it will be paid back. Sure it will. Second, I’m afraid it will create a slippery slope and every time there’s a chance of a failure, the leaders of the organization will go back to Congress for another bailout. Third, it goes against the principle of capitalism and the free market.

It may be time to buy some fruit jars and bury our money in the backyard.

Just vote “Nay.”