Obama promised that the measure ensures that taxpayers will "never again be on
the hook for a bailout."Fannie May and Freddie Mac anyone? The feds
have now admitted that the bailout for those two will be more than double what
they orignally claimed. I don't think there is an end in sight at this point.
Governments, like private citizens, can't spend their way out of financial red
ink. California is living proof of that statement.The liberals in
California wanted to borrow money against future lottery revenue earnings to pay
yesterday's bills. Sooner or later tomorrow's bills will come due and then what
will they borrow against?The voters are going to help Obama learn
that we are tired of him throwing our money down the drain.
It is actually Economics 101 that the Government needs to help keep the economy
going in times like these. The Great Depression ended because of projects
proposed by the New Deal. Japan endured the lost decade because they didn't
intervene and tried to let the free market ride it out.Here's where
we might agree--maybe. If the corporations paid their fair share of taxes and
avoided loop holes, we would be better off. Government does need to balance
budgets. That is for sure, but it is tough to enter a situation where the
economy, the Car Industry, Wall Street, etc. will collapse if you don't
intervene as a government. To let the whole thing fall would have created
unbelievable job losses. To let millions suffer because of the greed of the
powerful is irresponsible. The debt is necessary in this case.I
don't think the debts were necessary for tax cuts and the Iraq war like under
Bush, but that is in the past. Time to move forward and start balancing budgets
now. I believe Obama has a plan in place to get back to balanced budgets in
time while being responsible.
It is economics 101 Outraged in Ogden. Government can't give the people
anything they don't take away first.Federal aid is like giving
yourself a transfusion from your left arm to your right arm through a leaky
President Obama is right in his comments.Additionally, if the
Republicans win then the country will lose because fascism will be imposed on
the country through the policies of the far right authoritarians now in control
of the Republican Party.The country deserves better.
Yeah Chris B, we need to let the market crash and have unemployment go to 30
percent. Small minds will never know what problems would have ensued had the
Government not step in, but continue to howl at the moon while the more
responsible part of the US is grateful for the help.
Let's recap how barack has helped consumers:I'll spend a trillion
dollars of your money to "prevent unemployment from reaching 8%"Great return on investment barack.Get him out.