Wednesday, September 24, 2008

An average American's take and undecided view on the 700 billion dollar bail.

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If the Bush Administration couldn’t make any more mouth dropping, eye popping decisions, this one definitely takes the cake.

I don’t know about the rest of you, and I can’t speak for the rest of you, but I can speak for myself. Quite frankly, I am immensely angry at Paulsen’s effort to convince congress to accept the 700 billion dollar bailout. Doesn’t that cost more than the total cost of the IRAQ war? Let’s see, a 700 billion dollar bail out means that’s 3,000 dollars per taxpayer. It is in fact, the largest bailout since the Great Depression. You need more than 3 pages to validate that much of a bailout. What exactly are tax payers getting from this bailout? Money is already tight for a lot of Americans, and the last thing we is to see our hard earned money pull failing financial companies out of the hole. Why should tax payers have to take financial responsibility for the irresponsibility’s of these companies? If they want a bailout, then they need to provide an immediate incentive or something to tax payers. If we’re footing this bill, we need something in return.

I understand that the economy is in peril, and I do realize the intended purpose of the bailout is to save the falling economy, but in reality, will it really work? The Bush Administration does not display a promising track record, and its decisions have cost us unjustified tax dollars. Is this bailout any different? I, including many Americans, want to know if the bailout is really a good idea, and if it will actually help in the long run. Do these companies have any plans so that it doesn’t happen again, and if so, what will they do to convince tax payers that the bailout is worth it? The administration’s quick, 2 year plan bailout seems to lack a strategic game plan. Either that or I must be blind and am not able to understand the sheer brilliance of it. I am not that economically savvy, but something stinks about this plan. This is a matter needs to be looked over carefully, and I believe other alternatives should be considered.

I am a bit unsure of how I feel about this bailout. I feel really skeptical that this is the right thing for the administration to do. Hopefully some of you can shed some light, how do you feel about the bailout?

2 comments

Sandra Cobb said...

Unfortunately, I have no light to shed on this either. It's just plain scary. Apparently it's okay to embrace socialism if it's saving the fat wallets of the wealthy, but it's not okay if it's to provide health care to the poor.

luvikavi said...

I agree with your comment, I just read the draft on the bill they want to pass, and it is scary. It gives the sec. almost unlimited powers.

I don't know if I'm more angry or worried.

 

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Kavita (luvikavi)
I am a 25 year old loud mouth by my words yet soft spoken at heart. I have love affairs with new thoughts, ideas, controversies, movies, news,helping those in need and politics. If something tickles my fancy, I will blog profusely about it. The world is filled with nonsense, and writing helps me grasp the reality, whatever that may be.
I graduated from Northern with a Bachelors in Health and Human Sciences, with an emphasis in family and individual development. I hope to GOD my thousand and thousand dollars in loans has prepared me enough for Grad school which I will be venturing off into this Fall of '10. YIKES!
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