Tombstone has nothing on Washington, D.C. Friday's financial OK Corral took place when federal politicians had a standoff over the mother of all bailout bills. Bullets called ballots were fired from both congressional houses and the White House. And when the smoke cleared, the bad guys were apparent – Bush, Paulson, Barney Frank, Pelosi, Dodd, most of the members of the House and the Senate, including Obama and even McCain, among many others.

Except for 25 senatorial and 161 congressional opponents, the majority have just driven our children and grandchildren nearly $1 trillion deeper into debt, with only a dim ray of "hope" and sheer speculation that the Fed might recover it. Do I need to remind anyone that even by our own government's standards our national deficit is now more than $10 trillion? Congratulations America – you've now reached triple gold on your credit line.

And was that really the total responsibility of the past eight years of government? Now knowing that Fannie Mae and Freddie Mac were the epicenter of the economic earthquake, I was intrigued to read a New York Times Sept. 30, 1999, column that pointed out, "Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton administration to expand mortgage loans among low and moderate income people. … By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings." The article closed with a prophetic word by Peter Wallison, a resident fellow at the American Enterprise Institute, who forecasted, ''From the perspective of many people, including me, this is another thrift industry growing up around us. If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

I'm brought back to the common sense statements from Ronald Reagan about economy and government: "Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Or simply, Reagan said, "The best minds are not in government. If any were, business would steal them away."

Speaking of great minds not in government, I agree with David Levine, professor of economics from Washington University, who said, "This seems to be a particularly bad bill. We have seen pretty clearly that all the bad things that were promised to happen if the bill didn't pass on Monday or on Tuesday or whatever particular day of the week it might have been, haven't happened, they are not going to happen, they are not going to happen next week, next month. I really wish that the chairman of Federal Reserve and the secretary, the treasurer were up there telling people that bad things are not going to happen, if they do happen they won't happen immediately. There is time to deliberate over a good plan. This is a bad plan; it got even worse since it was turned down by the House. There is very little to like in all of this."

The truth is most lawmakers voted to pass the bill but don't have a clue what is in this 500-plus page legislation, which was birthed in the White House just two weeks ago as an infant of only three pages. It was then voted down at the Capitol a week later in its adolescent-sized 100 pages. And of course, in good bureaucratic fashion, it passed mature criteria when it was more than five times the size and packed with governmental goodies. And the president signed it just an hour after receiving it from Capitol Hill on Friday – I guess that speed reading course paid off.

In the fine print, inserted between the lines of that 500-plus page bill, are loads of fiscal additives and more financial toxic relief. Yes, the rumors are true. H.R. 1424 – Emergency Economic Stabilization Act of 2008, which has now been signed into law, officially includes more than $112 billion in political hors d'oeuvres and pork barrel additives that have absolutely no direct relation to the Wall Street bailout. Among them are:

• $6 million in tax breaks for wooden arrow manufacturers in Oregon;
• $148 million in tax breaks for wool-producing companies,
• $128 million in tax breaks for the manufacturers of car racing tracks;
• $10 million in tax breaks to small television and film producers;
• $223 million in tax breaks for Alaskan fisherman;
• $33 million for corporations operating in American Samoa;
• $192 million in tax breaks for rum producers in the Puerto Rico and the Virgin Islands.

What the &^%$#@?! And that's just a drop in the bailout bucket. And We the Taxpayers are just supposed to sit back and take it in the arrears?

While tax decreases can stimulate the economy, packaging them as economic teasers, sweeteners and pork in this particular "crisis rescue bill" (for the sake of selling it to constituents) is simply unethical and one more sign that our government is fiscally reckless and totally out of control. Bribing congressional naysayers only fattens financial pigs and feeds the greed machine that got us into this problem in the first place. What ever happened to our founders' fiscal prudence: "Live within your means," "Be content with what you have," "Cut spending," "Debt is not the answer" or "Greed is the root of all types of evil"?

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Shockingly, or maybe not so, both Democratic and Republican nominees for president, self-professed agents of reform, followed the cattle call to back the bailout. Sen. Obama, who claims to be the messiah of change, sure is showing his true colors in two huge decisions – first by his appointment of politics-as-usual Joe Biden and now by his vote to pass this economic bailout bill and drive us deeper into debt. And, quite frankly, Sen. McCain is also disappointing me at this point. At the Republican convention, John talked about bringing the power back to the people. So he chose Sarah Palin, and finally gained my respect and vote with this Washington outsider. Now, when he had the perfect opportunity to side with the majority of Americans, who didn't want to incur a trillion dollars more in debt, he not only voted for the bilking bailout but the earmarks and pork barrel projects packed inside.

John, you gained my vote by your conservative choice in Gov. Palin; don't lose my (and others') vote by your return to politics-as-usual. For many of us, you have one last chance in the debates – you must choose radical reformation. If there were ever a time for Maverette Sarah to show her true colors, then she needs to stand up to Maverick McCain and say, "Enough is enough!" Speak up, Gov. Palin, please speak up!

Tragically, McCain, Obama and the rest of the Capitol Hill crowd are not only paying for the corruptions of Wall Street cronies, but they are enabling a financial system in America that is consumed by greed and run by super-excessive superfluous amounts of credit. In other words, if the markets ever do stabilize, it's only because the gargantuan black hole has been momentarily satiated, until such a time that it needs to devour more public institutions and debt.

Unfortunately, the U.S. government (and many of its citizens) have perfected the art (or is it an addiction?) of robbing Peter to pay Paul. I agree with Mike Huckabee, who opposed this bill and spoke on his new Sunday Fox News show, "Huckabee." He said we've become a nation of "bail-a-holics." That is one more reason why it was flat out wrong for Washington to hold the American economy hostage by passing this bill – and now to offer it more credit carrots like a full syringe to a heroin addict.

The economic sky is cloudy (maybe even very cloudy in parts of the nation), but it's not falling. And we'll never know now if the American public would have been able to face and weather the coming economic storm, because Washington will claim credit for any positive upturns in the markets or simply say, "We tried," if the bailout bottoms out. The fact is that we can't bail out of black holes, but we will bail ourselves right into bankruptcy if we keep heading down the same fiscal road. As many of us have learned too well in our own lives, you can repeatedly defer the payments, but sooner or later the money monster is knocking down your door.

Despite the heartbreaking passing of this bill, thank God 161 representatives and 25 senators opposed it and weren't enticed by the pseudo-urgent Wall Street panic, their own re-election pressures, or the Senate's pork barrel schmoozing. For example, I commend Rep. Don Young, R-Alaska, who voted "no" for the emergency economic bill, despite that the tax break for Alaskan fishermen was inserted to sway him to bite at the bailout. Rep. Young is correct, when he writes to his constituents, "... [T]his bill is nothing more than a slippery slope to Socialism."

All is not lost, yet. We still have a voice in this bailout – it's in the ballot box in November's elections. The remedy for our country is clear. Congress doesn't need another bailout, but a roundhouse kick right out the door. I plea with you to join me and millions of others in a Voter Revolution – to oust political and congressional corruption and stalemate. If the congressmen from your state and districts voted to pass this bailout bill and gamble nearly $1 trillion of our children's and grandchildren's tax-paying money, in addition to showing the reckless fiscal behavior of stuffing such a bill with perks and pork, you must not re-elect any such wayward incumbent. If your representatives voted for this economically rotten (not rescue) bill, vote them out in November by voting for new blood that has a track record of fiscal prudence and will consistently vote for constitutional limitations of government, the reductions of big government (deficits, budgets, spending and taxes), the reformation of the tax code (by providing a Fair Tax or its equivalent) and a constitutional amendment for a mandated balanced federal budget.

I think Republican Don Young from Alaska summed it up well: "Again, I fully understand that we have a serious issue on our hands, but I can't agree with the way we are handling it. I have heard from thousands of Alaskans over the past two weeks, via email and phone calls. From what I've seen, the vast majority of them are opposed to this bailout, and I agree with them. Alaskans are paying the highest gas prices in the country and out in the bush a gallon of milk can cost $9. Congress is willing to bail out multi-billion dollar industries but won't address the needs of every day Americans and Alaskans. I think that's shameful. We don't need legislation that provides a 'get-out-of-jail-free' card. We need legislation that provides a long-term fix."

One thing is apparent: Alaska can produce some great Americans.

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