Tuesday, November 25, 2008
The next bailout
If anyone has been following the economy lately (I would hope that includes anyone who has time to read our blog), the government has been dishing out massive amounts of money. Remember how vital it was for the $700 billion bailout? That was preceded by the government dishing out $2 trillion for Fanny Mae and Freddie Mac. That was preceded by our wonderful stimulus package which got lots of us a check which we were supposed to use to buy goods to jump start the economy. Now, the government says they need $800 billion more for two new programs which are vital to our economy. But wait, we're not through yet. Now the government has said that their willingness to extend credit will likely to $7.7 TRILLION! This includes the recent programs mentioned above. My question is, when is it time to say "enough is enough"? What about next year if this doesn't work? Will the government continue to spend itself into oblivion? We really have created a monster, and guess what? You'll be paying for it.
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If you read my blog you will already know my feelings on this subject. I can't stand the idea of the government getting into private business, the reason businesses fail is the same reason people die, they get old, tired and worn out, some even have diseases. Either way in spite of how hard death can be, especially when it is someone that has made an impact on millions of people it is a natural part of life, even for businesses. I say let them die, otherwise how will we ever get something newer, better, and less sickly, pun intended.
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