How ironic is it that the father of the Democratic party, Thomas Jefferson, feared that a federal government would one day do the very things his party now espouses. His party now provides his anti-federalist and nullification arguments with validation. It was started ar a Republic and we need to go back to one Issy
Yep. And what really scares me is that the stimulus package defers payment even further, thus adding to the debt load. We have to pay this stuff back sometime. I know people like the idea of the government giving them money, but to do so they have to get it from somewhere. I don't trust any politician to act in my best interest, especially when large sums of money are at stake, which is another reason for why I distrust this stimulus package.
Write to and call your representatives, daily if need be until they get the message that the public is not behind this. Unfortunately this is the only power we have, is putting the fear into them that they will not be re-elected if they keep going down this road. I see no other lawful path forward to do anything about it.
That is all we can di I guess.. but what I really mean is how should they be going about fixing it.. just let it sort itself out or what? Fuzzy
Hmmm. I vote for tax cuts. The money would actually go to the people in need and it would grant relief to businesses on the ropes. The gov. should care about the collapsing financial infrastructure, but buying up all these bad assets sounds like a bad idea to me. I wonder if there could be a third option, a mitigated failure option, where the gov. doesn't buy in whole hog and some of the banks fail. The goal there would be to keep finances from completely bottoming out. Oh, and as for bailing out companies that make a non-competitive product: let those fail. Yes, it would be painful, but ultimately less destructive than subsidizing their incompetency.
Even under the worst case scenario not all of the banks could fail, only a few of the giants that made some spectacularly bad decisions would have failed.Even then another bank would have stepped up an purchased their assets, and every depositor in the bank is FDIC insured so they would have lost nothing. I am not seeing the failure of a few poorly run companies destroying the entire naitonal economy. The govt seems more than willing to see the auto indultry fail, and in terms of numbers of jobs these companies failing will have far further reaching effects. There are literally hundreds of thousands of jobs in the balance if you look at the entire supply chain from raw materials to final delivery to the customer at the dealership. The problem is that the people making the decisions in the govt are worried about their own portfilios, and the portfolios of their friends so they are going to save the banks, and in turn their firends by reaching into our pockets and exponentially increasing the national deficit. And the true irony is that they are going to do this while our President is hosting a "Fiscal Responsibility Summit". If this were not really happening this could be a Saturday Night Live skit, but this is reality and they are conciously destroying this once truly great country.
