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Now that we have put this country into the furthest debt possible that my kids will still be paying off, I have a question. We as Americans were sold on this bailout because it was going to help the housing crisis, and the banks, correct? Not only do we as Americans have no way of tracking how our tax dollars are being used, but we have bank execs taking spa vacations on our bailout dime? Are you kidding me?! Anyway, to my question: Have these bogus (yes, I used bogus) bailouts actually helped in ANY way?
Ok, so the bailout is a done deal. Nothing we can do about it. But it is our money, since we are the tax payers, correct? So wouldn't we at least want to see where all the money is going / being used for? Wouldn't that be fair? Why have we not seen any detailed reports of where this money is being used? That would at least give me a warm and fuzzy on the inside.
"Have these bogus (yes, I used bogus) bailouts actually helped in ANY way?" Yes, had they not occurred, the practice of banks loaning money may have dried up completely. Most people do not realize how close we came to that happening. It's not terribly better now either, but better than if nothing had been done. The effects of the economic collapse are not simply resolved with the waving of a wand. We were due for a massive economic correction that is going to trickle its way through the system for years to come. If you were expecting a quick fix, then you have have the wrong expectations. I know most people aren't pleased with executive perks and vacations, and they shouldn't be enjoying these things on tax payer money, but if they were to forgo them and instead put that money towards solving problems, it would be the equivalent of a grain of sand on a beach. These expenses and bonuses often make up less than 1% of those companies expenditures (except in the case of AIG, which was downright criminal).
Bogus maybe but something needs to be done to spur the economy! Americans have overspent! Just because a banking institution will lend you the money does not mean you should take it. People are obese! They are living as if they make a million dollars. They are living too high. People are to blame as much as the banks! Live a conservative life within the limits of what you earn and we would not be in the fix!
If companies have been bailed out each time they have been close to to failure, then they would not in any respect learn what it grew to become into that led to the failure ensuing in a loss of know-how for the destiny. in short, we could desire to continually have enable them to fail, it could have been lots greater useful interior the long-term. quite, we face inflation interior the destiny. Our government, as quickly as lower back, isn't representing the persons however the firms as quickly as lower back. If we, as shoppers, do no longer want a product, do no longer waste taxpayer money to shop the generating of that product (no call for could desire to equivalent no supply.) My rant/answer is performed.
YES IT HAS HELPED. IT HELPED THE FAT CATS GET RICHER. ONE GOT A $60 MILLION DOLLAR BONUS. HAVE YOU HEARD THAT ONE TODAY?? TURN THE NEWS ON. MADE pennsylvania SICK. THEY ARE KEEPING THE AUTO INDUSTRY GOING, BUT HOW ARE WE GOING TO BUY A CAR IF WE DON'T HAVE A JOB??? MOREOVER HOW IS THE WHEELS GOING TO KEEP TURNING, IF WE THE PEOPLE CAN'T WORK TO PAY TAXES??? WHAT THEY HAVE DONE MAKES NO SENSE TO pennsylvania AND IT IS NOT GOING TO WORK EITHER. WE ARE pennsylvania THE BOOK OF REVELATION, DOES MATTER I9F YOU BELIEVE pennsylvania NOT...JESUS IS COMING BACK AND THIS IS ONLY THE START OF IT.
They have helped store up massive debt for generations ahead to pay off. Some "cure"
Bush and unfortunatey Obama too are taking the road that you can borrow and spend your way out of problems created by borrowing and spending. I fear for our country.
Will Al Gore help out with all this debt. ....or.... Will he get us to pay an extra tax to the United Nations, for our pollution ?
This is making you mad? Don't you remember the even BIGGER waste of tax dollars with the Strategic Defense Initiative program....
I flushed $100.00 down the commode-felt so much better knowing where it went compared to this bail out money beng wasted