See this is where out of control spending gets you. We saw the spending and did nothing about it, and this is where it gets you.
Man, I can't believe this week on Wall St. The DOW is down, and then down some more, just to rebound and go sailing... over what??? Maybe I'm wrong and correct me if I am, but lets see if I understand this correctly. The government wants to spend billions of our tax dollars, or as they say, "a significant amount of taxpayers money," to buy all the bad assets of these failing companies. Now these are the same assets that have caused these companies to fail because they are no longer worth anything. These are the assets that people aren't paying their mortgages on, or paying off their credit. And the federal government wants to put that burden on us, and thats a good thing???? Everyone on wall street is geeking out about this and stocks are soaring. Does no one see the stupidity in this? The government can't even take care of their own finances but they want to take care of these failing companies why... so they can turn them around and make some profit? Ya right!!! They are just prolonging the inevitable. Lets face it, we have done the exact same thing that we did in the 20's. Everything is based on credit, that is supposedly backed by money that no one has. This is not monopoly.... unless you are the U.S. government they throw around trillions like its nothing, and they don't even have the money themselves. Ok, so what are our candidates going to do about it... NOTHING!! Fix the corruption on wall st. Sure that's easy to say. Wait... Biden has the answer, lets increase taxes so that we can save our economy because its "the patriotic thing to do." What is wrong with you!!!! Bail them out in the bad times but no penalty or rewards for taxpayers during the good times. This has gone too far.
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4 comments:
Increasing taxes is not so horrible an idea. Considering the fact that we voted to put the current administration in office and THEY are the ones making these horrible decisions, it's kind of our fault that the situation is what it is. Our country is horribly in debt and the only way out of it is to cut TONS of programs affecting the American people or increase taxes to pay it all off. Any better suggestion?
Increasing taxes is not the answer, in fact, this burden should not be put on our shoulders because in reality we weren't the ones who caused this. You can't even blame the bush administration because they don't really control wall street or these businesses that have gone under. If you own a business and have been embezzling money or lying on your books or just doing a bad job in general, who should be responsible.... you should, not all the tax payers who have nothing to do with your crappy failing business. If it comes down to people not paying their mortgages because they just had to have that 250k house when they could only afford a 120k house, it should come from them, not the taxpayers. Learn to live within your means.
I do think that programs need to get cut, another thing that needs to go is all this aid that we are sending to every little country that gets into trouble. Are they sending us any money? NO! We don't have the money ourselves, so how can we possibly send it to them. Someone needs to tell the government no! They need to live within a budget. Come up with a balanced budget, and keep it. YOu run out of money.... SORRY... you should have been better with what you had. It would only take a year or two before they figured out that once it's gone they are done so they would budget better and cut expenses where it needs to be cut and then we would be back in budget.
Yes, we can blame the Bush administration. They may not have run the crappy businesses (although some may argue that the US government is a crappy business), but they were the ones who just slapped on the burden to the american people by bailing all of those companies out with taxpayers' money. The decision was made to bail out companies and increase our debt which directly affects the american people. You're missing the point by talking about individual's spending decisions. The main point to be made is WE ARE paying for it whether we like it or not because that's what the government decided.
Wait a second, weren't you the one who just said that increasing taxes is OK? How can you bash the bush administration for putting this burden on us since it will be paid with taxes if you support raising taxes yourself. If you read the rest of my blog you would already know how I feel about the government and their spending. Yes it is a failing business, its the worst business on the earth because of it's income to debt ratio. Good grief, any business that was gonna be 400+ billion over budget would be shut down in a heartbeat except our government. So the question is why do we support it? The evidence that we support this kind of spending is in the fact that we keep reelecting the same idiots who keep overspending. Congress is actually in charge of the country's finances but people blame the president. Why don't we just all choose not to reelect the incumbent, no matter who they are, thats when you will see change.
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