EDITORIAL - The Libertarian Party is warning against excessive and rash government intervention in the U.S. economy in response to recent market woes. Libertarian Party National Chairman William Redpath commented today:

"It is almost as if Congress and the President set out to do something half-baked and cheesy in response to this nation's economic problems. They won't give serious solutions the time of day, such as substantially reducing government spending, reducing taxes and reforming the tax code. If the government really wanted to fix the economy, they would start by getting rid of the junky hodge-podge of deductions and credits, lowering tax rates to stimulate entrepreneurial activity and risk taking, and addressing the trillions of dollars of unfunded entitlements in Social Security, Medicare and Medicaid. If these problems are not substantively addressed soon, foreigners through the world's financial markets may ultimately make the tough decisions for this nation. Let's hope economic sensibility and spine become the order of the day in Washington before then."

Professionally, Redpath is a Vice President with BIA Financial Network, Inc., which offers merchant banking and financial and strategic advisory services for the media, telecommunications, and related industries.

The Libertarian Party's platform calls for a separation of "economy and state," saying, "the only proper role of existing governments in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected."

Executive Director of the Libertarian Party, Shane Cory, stated:

"The idea that the federal government can micromanage the world's largest economy is absurd, but this is exactly what the Bush administration is trying to do. The best option for long-term economy growth is to keep the government out of the economy by reducing taxes and eliminating regulations of American businesses. Of course, tax reductions need to be offset by reductions in spending, which is something the Bush administration has struggled with for the past seven years. However, as more people look to the government for help with the economy, the worse the situation will become."