The Senate is poised to pass another stimulus package at some point this week.
I’m no Economist, but it seems that these bailouts are never going to end, and we are just setting ourselves up for disaster, instead of letting the free market take care of things. Yes, it would be painful, but I believe things would work out in the end. Again, I might be wrong.
Any way, I just got done reading an article on Bloomberg that puts the price tag on all the bailouts over the last couple years to $9.7 TRILLION!!!! If you figure there are about 300 million U.S. citizens, that comes out to a check for the amount of $32,333.33 to every citizen.
Seems like a check that size would most definitely stimulate the economy.
i hate to say it mr. barden… but alot of the money that has been spent in the recent past that has contributed HIGHLY to the debt we are reeling from (ie. not just the “bailouts”) was from the bush admin, and spending it on a war that we didn’t need to be a part of, and other assorted things that we “needed” to do. but yes, i agree, we are in some horrible economic trouble….
Yes, we did spend a lot of money on the war (just under $600 Billion so far), but that’s no where near $9.3 Trillion, which is what all this bailing out is going to come to (or so they say). Also, the defense spending is different than people taking out mortgages they couldn’t afford from banks who shouldn’t have been lending to those people in the first place. We have President Clinton to thank for enacting laws that made it way too easy to lend to at risk consumers.
Will be interesting to see how we dig out of this mess.