That is the message of Heritage’s latest paper, which shines light on grave constitutional issues arising from the proposed bailout. In explaining the separation of powers defects that run amok in the proposed legislation, messengers Gaziano and Grossman argue that we should not seek to narrowly escape the requirements of the Constitution, which promote the liberty and free market principles necessary to see us through even these troubled times:
Some would treat the Constitution as a legalistic document and employ narrow legalistic arguments to circumvent its strictures and protections. The substance of this debate, however, should not turn on what provisions might or might not pass muster with the courts under a pinched conception of our fundamental law. Rather, it is the principles the Constitution embodies, which have served us well through so many crises, that should be the focus of debate. In short, Americans should take little comfort that legislation might barely pass muster in the courts if the legislation does serious damage to the underlying constitutional principles that were designed to protect our individual rights against governmental usurpations.