For Immediate Release Wednesday, November 19, 2008
Republicans Responsible for Massive Growth in Government Regulation
Following Senator John McCain’s 2008 presidential campaign, and the support of the massive bailouts by Republican members of Congress, the Libertarian Party says it has replaced the GOP as the party of free market advocates.
“The Republican Party no longer represents advocates of capitalism and the free market,” says Libertarian Party Director of Communications Andrew Davis. “The GOP’s mindless support of regulatory economic policy indicates it no longer has any philosophical or pragmatic opposition to government intervention in the marketplace. This abandonment of free market principles makes the Republican Party no more opposed to big government than their Democratic counterparts.”
The Libertarian Party points to Senator John McCain’s lack of opposition to the use of government in solving America’s economic woes. “This was the perfect opportunity to explain to America that government was the problem, and it was not the solution,” says Davis. “However, Senator McCain fervently believed that government had an important regulatory role in the economy, in what appears to be a growing sentiment among ‘conservatives’ in the Republican Party.”
Davis says there are still Republicans and Democrats who truly believe in the principles of capitalism, but says these Congressmen “have been so marginalized by the Party elite in the name of political expediency that they have become a silenced minority.”
The Libertarian Party’s platform states the only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. It further states that all efforts by government to redistribute wealth, or to control or manage trade, are improper in a free society.
The Libertarian Party blames the current financial crisis in part on government regulations and programs that distorted the housing market and removed the incentives of financial firms to make responsible lending decisions.
“If Americans want a political party that believes in the true meaning of a free market, they must look to the Libertarian Party,” Davis concludes. “The Libertarian Party is the only voice for capitalism in politics today.”
For more information on this issue, or to arrange a media interview, please call Libertarian Party Director of Communications Andrew Davis at (202) 731-0002.
The Libertarian Party is America’s third largest political party, founded in 1971 as an alternative to the two main political parties. You can find more information on the Libertarian Party by visiting www.LP.org . The Libertarian Party proudly stands for smaller government, lower taxes and more freedom.