Thaddeus Disappoints

On September 29, 2008, these words were spoken on the floor of the House:

I rise today not to change anyone's mind, but to express to my constituents my reasons for opposing this bill.

There will always be time and pretext enough for people to compromise their principles and put forward poor public policy that may in the short run be popular, but in the wrong run will be detrimental to the long-term interests of the American people. We learn this through history.

In the 1832 bank panics, Andrew Jackson had the question of whether he would remove the Bank of the United States' charter. The people in the bank did not like that. They threatened the prosperity of the American people. In the middle of the panic, Andrew Jackson looked at these bankers and he said, "There are no necessary evils in government. The Treasury to you, gentlemen, is closed."

This was an act of courage on the part of President Jackson, because he understood what was at stake was not merely an ephemeral prosperity or a panic caused by the very people with their handout. Andrew Jackson understood this was about majoritarian rule; it was about the faith in the people's representative institutions and those who inhabit the seats in which they are entrusted.

Today we are in a global financial bank panic. It is the first of our global economy. We are seeing a leveraged bailout of the United States Treasury. In the end, these interests that want your money are threatening your prosperity, and the choice you face is this: You will lose potentially your prosperity for a short period of time at the expense of your long-term liberty. Once the Federal Government has got you to take that risk and pass it on to you as a "moral hazard", they will be in the marketplace. And as the free market is diminished, your freedom itself is diminished, and as your Congress does not stand up to these and put forward a better plan that truly protects the taxpayers, that truly has the long-term interests of the United States at heart, you will be in jeopardy of losing both your prosperity and your liberty.

The choice is stark, and it was put forward in the book by Dostoevsky. In The Brothers Karamazov, the grand inquisitor came to Jesus and he said, "If you wish to subject the people, give them miracle, mystery and authority; but above all, give them bread."

It has always been the temptation in a crisis especially to sacrifice liberty for short-term promises of prosperity, and it was no mistake that during the 1917 Bolshevik Revolution the slogan was "peace, land and bread."

Today you are being asked to choose between bread and freedom. I suggest that the people on Main Street have said that they prefer their freedom, and I am with them.

These were the words of Thaddeus McCotter (R-MI) on the floor of the House opposing the now infamous $700B TARP/EESA bailout. That measure failed that day to the pleasant surprise of most Americans.

Tonight, McCotter led the GOP charge (it was a weak charge) in support of the emergency loans for the automotive industry. The Democrats really didn't need his help, the bill probably would have passed without any GOP support (it would have been really close).

Now, I listened to McCotter's comments at the committee hearings last week and his speech on the floor tonight. I have to say that I'm disappointed. I felt that his impassioned speech against the Wall Street bailout was the most eloquent and succinct argument given on the floor. In his support of the auto bailout, he has done a 180 on his position. At the end of the day, the argument against the auto bailout should have been the same.

He is from Michigan. He is supporting his constituents. This is nothing but a massive dose of pork. He joins the rank and file of Congress in terms of my respect.