Former Obama Treasury Secretary Timothy Geithner recently told host Jon Stewart on “The Daily Show” (on the Comedy Channel) that the big banks had to be bailed out because, in his words, it was “the only option, the only responsible, just, moral thing to do.”
His reasoning went like this:
Obama, Geithner and Company had to protect people from mass unemployment which, he said, is what happens in a financial panic “unless the government steps in and makes sure they try to keep the lights on.”
I want you to listen to what Geithner says next. Here it is:
The first obligation in a panic is to do whatever it takes to protect the American people from what happened in the Great Depression when there was 25 percent unemployment and bread lines for a decade.
What you just heard was Tim Geithner, on behalf of Barack Obama, eviscerate not only the Constitution of the United States (to which he took an oath before God), but also the law of Nature and of Nature’s God, which the Constitution and the Declaration of Independence acknowledge as the Source of all law.
First, the federal government is never authorized “to do whatever it takes” in any situation. The federal government, like all governments everywhere, is under authority that limits what it can do. The first and by far most important authority limiting all governments is the Word of God (Romans 13:1-7). Secondly, in our country, the federal government is under the limiting authority of the U.S. Constitution, and neither God, in His Word, nor the U.S. Constitution (Article 1, Section 8) authorizes the federal government to lend hundreds of billions of dollars’ worth of our hard-earned tax dollars to big banks. Period!
Whether the big banks did or did not pay back these federal loans is utterly irrelevant. The point is there was no authority for the Feds to lend this money in the first place. Needless to say, Jon Stewart, no matter how clever or glib you may think him to be, did not raise the crucial authority question.
The lesson to us, I believe, is that we must raise it and raise it continually. We should never blindly accept the perverse assertion, put forth in this case by Mr. Geithner, on behalf of Mr. Obama, that, in an emergency, they are free to do “whatever it takes…”
I humbly suggest to you that this is precisely what George Washington warned us against in his famous “Farwell Address” when he said this:
“If in the opinion of the people the distribution or modifications of the Constitutional powers be in any particular wrong, let it be corrected by an amendment in the way which the Constitution designates. But let there be no change by usurpation; for though this, in one instance, may be the instrument of good, it is the customary weapon by which free governments are destroyed.”
You see, our first president was warning us about the likes of Tim Geithner. He warned us that when a crises may occur, such as an economic crises, there would arise voices telling us to set aside our moral and constitutional principles and “do whatever it takes” to deal with the pressing problem.
According to George Washington, following such bad advice leads to the destruction of free government.
So, whose advice will you follow, America? Will it be (Father of our Country) George Washington or (Tax Cheat) Tim Geithner?Facebook and Twitter, and follow our friends at RepublicanLegion.com.
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