Bailout? Fine. But we want cuts.

Moments ago, the U.S. House of Representatives defeated a massive $700 billion bailout of Wall Street investment banks. The bill was largely opposed by House conservatives and Democrats alike. And while Wall Street is currently throwing what Fox News anchor Neil Cavuto calls a "hissy fit", the question remains - should the federal government intervene, and if so, to what extent?

To many conservatives, the idea of $700 billion in new spending is just unthinkable. It's impossible to fathom, and Washington has not lifted a finger to justify this blank check. To use a relevant analogy, if taxpayers are shareholders in the federal government, we deserve a better explanation from the board and CEO.

And while Congress prepares to open the piggy bank of pork to entice Members to switch their vote, there's something a lot of us out here want to see on the table - CUTS.

If you tell us it's necessary to give Wall Street $700 billion to preserve our economy, fine. Let's do it. But let's offset it. This can't be new spending. We're already neck deep in deficit, and this won't help a thing. Find the programs to cut to get there. If this is a true emergency, and you tell us it is, then let's see some priorities and trim the fat on the federal budget.

What sort of example are you setting, if you just pay off bad borrowing with more bad borrowing? Someday the federal deficit will have to be dealt with, and adding a slice of $700 billion on top of the plate won't make that chore any easier.

If it's the right thing to do, let's do it. But let's do it in a fiscally responsible manner by offsetting that spending with federal budget cuts. I know it won't be easy, but it seems writing that check will be impossible.

If you agree we should offset the $700 billion bailout with federal budget cuts, contact your Senators and Representative today. Let them know you want them to approach this with the long term health of our economy in mind.

(Crossposted at PolicyMedia.com)