by Constitution Party National Committee – June 2009 – Newark, New Jersey
Whereas, “Bailouts” have increased the federal debt that will be handed down to subsequent generations; and
Whereas the “Bailouts” violate the Fifth Amendment’s Due Process Clause by allowing the federal government’s interference 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 Barack Obama, are unconstitutional and these presidents had no authority to fundamentally alter the relationship between the federal government and private businesses; and therefore be in it
Resolved, that the Constitution Party strongly condemns such “Bailouts” of any and all private industry as they are completely unauthorized by, and in fact are, 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.