Can the Taxpayer afford the bailout?
As the stock market reflects consumer lack of confidence in the economy and especially in the government and the new incoming administration. Can we , the tax payer afford to bailout the economy with stimulus after stimulus package?
The automakers have collected over 25 billion in bailout funds, burned through it in two months, AIG uses the money for bonuses and executive getaways at exclusive locations. The housing market is in a slump, but I have expounded on the reasons to that before. So can the tax payer afford all the money literally being thrown at the problem. One would look at this and think that it is the sagging educational system. We keep throwing money at the problem and it will not go away.
Should we expect the government to fix this? Sec. Paulson has come out and changed the bailout plan now from what was initially approved. A purchase of BAD loans that should never have been made. The premise that it was a bailout of the mortgage industry as the cause for the economic problem. Then it moved to a more of we need to back the banks better. Take over their bad assets. More money out of the $700 billion thrown down the toilet.
American Express, sends out millions of adverts and applications daily trying to give away its worthless credit card in an attempt to sucker in more people into a credit debt. Now they get a preferred banking status and possible bailout funds. In other words in the case of American express we are responsible to pay our bills and refinance their bad decisions as well. A double dip into our pockets from a banking institute.
As responsible adults we have to balance our checkbooks and pay our bills. Yes many times we have unexpected bills that throw a huge monkey wrench into things. Yet we are expected and dragged into court by our creditors in order to pay our bills. Many of us make arrangements to pay off our debt. We balance our checkbooks and make decisions on what we can afford and what we cannot. We do with out and save in order to afford later on. Be It that big screen HDTV , boat, new car , or even that long over do vacation.
We are expected to do this and are responsible for doing this. Yet big business and banks cry foul and ask the government , US, to bail them out when they do not act fiscally responsible.
I do not know about you , but my wallet is getting extremely light. How much longer can we afford to bail these people out. Maybe it is time that we look at letting them fail and moving on with the economy.
The automakers have collected over 25 billion in bailout funds, burned through it in two months, AIG uses the money for bonuses and executive getaways at exclusive locations. The housing market is in a slump, but I have expounded on the reasons to that before. So can the tax payer afford all the money literally being thrown at the problem. One would look at this and think that it is the sagging educational system. We keep throwing money at the problem and it will not go away.
Should we expect the government to fix this? Sec. Paulson has come out and changed the bailout plan now from what was initially approved. A purchase of BAD loans that should never have been made. The premise that it was a bailout of the mortgage industry as the cause for the economic problem. Then it moved to a more of we need to back the banks better. Take over their bad assets. More money out of the $700 billion thrown down the toilet.
American Express, sends out millions of adverts and applications daily trying to give away its worthless credit card in an attempt to sucker in more people into a credit debt. Now they get a preferred banking status and possible bailout funds. In other words in the case of American express we are responsible to pay our bills and refinance their bad decisions as well. A double dip into our pockets from a banking institute.
As responsible adults we have to balance our checkbooks and pay our bills. Yes many times we have unexpected bills that throw a huge monkey wrench into things. Yet we are expected and dragged into court by our creditors in order to pay our bills. Many of us make arrangements to pay off our debt. We balance our checkbooks and make decisions on what we can afford and what we cannot. We do with out and save in order to afford later on. Be It that big screen HDTV , boat, new car , or even that long over do vacation.
We are expected to do this and are responsible for doing this. Yet big business and banks cry foul and ask the government , US, to bail them out when they do not act fiscally responsible.
I do not know about you , but my wallet is getting extremely light. How much longer can we afford to bail these people out. Maybe it is time that we look at letting them fail and moving on with the economy.
