The Bailout Fad

Line up for you free bailout!

Line up for you free bailout!

Ahh, I just love a good bailout. Don’t worry about being responsible with your money, Nancy Pelosi and her squad of liberals will be at your door very shortly with a whopping check to “solve” all your troubles!

Hopefully, everyone sees the sarcasm in that.  My opinion is actually completely opposite of that.  I DESPISE the current love affair the democrats in congress have with bailouts.  They seem to have the mindset that the more money you throw at the problem the better off we are and everyone is happy.  False.  The kool-aid drinkers are happy, but those that understand the economy are left scratching their heads.  It blows my mind as to why they continue proposing these bailouts that clearly don’t work.  The first economic stimulus package failed to do anything, so they are proposing a new one.  Of course!  If at first $170 billion doesn’t jump-start the economy, throw another package right on down!  That doesn’t even make sense.  Now, they have a package designed to specifically bailout Detroit.  No, not their dreadful football team (For those that don’t follow football, the have lost all 8 of their games so far), but the automakers in Detroit.  They are now proposing $50 billion to give to struggling automakers, and while I know the auto companies certainly need some help, this is not the right way to go.  My main point with this rant is where will all this end?  Are we going to continue bailing out every industry in the nation until every executive get’s their spa trip at a luxurious resort?  Something needs to be done.  At the rate we’re going, I wouldn’t be surprised if tomorrow Pelosi speaks on a bailout for struggling lemonade stands across the country.  Eventually you have to draw the line, and most sensible people would have drawn after the first stimulus failed to make even a knick in the economy.

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3 Comments

Filed under Congress, Economy, Politics

3 responses to “The Bailout Fad

  1. Mel

    One of the most upsetting aspects of this is that the letters to our senators opposing the bailout went unnoticed. The other most upsetting aspect is that it failed the first time, then we just kept bringing it back from the dead, like a zombie… disappointing and frustrating.

  2. mrdarcy77

    What is truly interesting is that China is now starting a stimulus package of their own. You would think they would learn from what has happened in the United States that it isn’t the way to solve problems. The problem with these stimulus packages is they don’t take into account that this entire economic crisis could have been prevented. Although I am not a conspiracy theorist by any means the government has known about the pending problems for years. It was apparent back in 2001-2003 when most of the mortgages that are going bad now were written. I know I was apart of the real estate market and saw this coming a mile away. No one would listen because they were too busy getting rich. No one wanted to believe that the market could bust, but you don’t have to be a genius to figure out that “what goes up, must come down.” A simple entry level economics class will teach you that when a market is not at equilibrium something will change and virtually force it come back into equilibrium. What baffles me is why something was not put in progress sooner, an old catch phrase comes to mind “Lack of planning on your part doesn’t automatically constitute and emergency on my part.” This economic crisis in my opinion is certainly lack of planning on many peoples part. Now, because of these people’s poor decisions the entire country is having to pay the price. It is too bad that stupidity isn’t painful. There would be a lot less stupid decisions made if it were.

  3. It is extremely frustrating, and hopefully the next time a stimulus comes up for vote our senators will see that it does no good at all.

    That is so true! All of what we are going through now could have very easily been avoided. If the standards on mortgage loans had not been lowered so much we wouldn’t be in this mess. It makes no sense at all for a bank to lend money to someone that has no money in the first place. But when people have the mindset that “everyone deserves to have a house” they occasionally look over the lack of logic. I do think though that we will learn from this whole mess the value of only lending to people that can back it up, because that is at the base of all this nonsense.

    And thank you both for commenting! Hope you stop back by.

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