I disagree with the latest news ," the $ 700 billion dollar bail out" when there are so many people that are going through tough times or are soon to be. Why didn't the administration come up with this "Bail Out" when the foreclosures began to take off and help the home owners?
Just that in it's self would have cut the foreclosure numbers way down, Save the banks from getting in too deep with bad loans and stimulate the economy with the ciculation of more money. At least those who paid in the taxes would for once get something in return.
Instead the government will spend the tax payers money to bail out those rich companies mentioned in the news, from their bad investments. I also understand that the government is hoping once the economy does pick back up, they will be able to sell what they bought and maybe make some profit along with getting back the tax payers money. If there is profit from the "bail out" where do you think they will blow it. Probably helping out the oil companies with "energy grants" of billions of dollars, to do more drilling in the U.S.
I also feel that this "bail out" will also help the rich who have their money invested in stocks. I guess it would be extremely devestating to the rich, to live how most middle class live, pay check to pay check. can't go to the grocery store and buy what you want but only what you can afford.
I also have concern that since the government has opened the flood gates, stepped in to help out the banks, Wall street and other sectors involved. Will this be a start of a trend that the government will bail out any business, as it deems fit, with the tax payers money??
I think they should have put it to a vote before the american voters. It should be law that any time the government plans on spending $100 billion or more ( for what ever reason ) it should be put before the american voters for a yea or nay vote.
That's how I feel about this topic; What do you think???
