The Republican Study Committee--that brave caucus of 100 House conservatives--today came out with a proposal of their own in response to the present economic crisis.  The RSC should now reach out to the many other disgruntled Republicans and Democrats behind their free-market proposals and consolidate their support for three moves this week:

First, At a press gathering involving both Republican and Democratic supporters of the free-market initiative, they should announce their plan in simple terms.  They should present their plan as one which not only supports the present economy but also maintains the economic structure that has defined and benefited our country for much of our history.

Second, These members of the House should then categorically reject the Paulson plan on both philosophical and populist grounds.  Philosophically, the plan is a socialist maneuver and blatantly opposed to American freedom and economic values (as Sen. Bunning rightly pointed out).  Pragmatically, it puts taxpayers (the "little guy") on the hook for monstrous debt.  For the sake of America and Americans, the plan should be rejected.

Third, If the free-market initiative lacks the requisite support in Congress, certain concessions should be made.  For example, allowing a partial, temporary bailout with clear boundaries and a fixed ending point could be allowed in order to advance these free-market reforms.  In this way, these politicians will appear to be both people of conviction and flexibility.

Economist F.A. Hayek reminded his readers that trying circumstances are always used to justify blatantly socialist measures.  Principled conservatives reject such petty justifications, preserving the free-market while bringing its resources to bear for the good of the American people.