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We all and the whole world would have totally messed up. My question is, what could have been worse then what had already happened and what still continue to happen. Millions are still jobless and economic recovery is much slower then it should be. We are still generating jobs that are less then the addition and increase in adult population. So, in spite of so called job growth, the net number of unemployed people is going up. Only major difference between now and the otherwise situation without bailouts is that the elites, the criminal executives who effed up everyone else are not suffering. They got provided with so called golden parachutes, bought by our, the tax payer and borrowed money, which ultimately the tax payer has to pay back. These crooks do not even have to pay it back. Although they should have got fired and jailed.
I just do not understand this notion. Even if we accept that bailouts were necessary. Why bailouts have to be for the corporations that messed it up, in the first place. Isn’t it that whenever a bailout is done, we are told that it’s objective is to keep economy running and save us from disaster? Even if it is necessary, why can’t this be done by bailing out the tax payers? It is there money anyways! Instead of rewarding the corporation for mess up they did, this money could have been distributed back to tax payers. Two trillion dollars, for havens sake, divided by roughly hundred million tax payers equals 20,000 dollars per tax payer. If you have two tax payers in your household that is roughly 40,000 dollars per household. Just imagine, if every tax payer in U.S. had twenty thousand dollars extra? With twenty thousand dollars extra per tax payer, I believe, you can give a miraculous jump start to the economy Ethiopia. This is United States of America, my fellow Americans. With all that extra consumer spending and debt payments, we could have easily compensated for the lost jobs, debt pay-offs could have saved many banks and people living with less or paid off debts could have lived and spent much better in future. Would that have not jump started the economy and made it running?
What we have, now. Rich executives, corporation and banks got bailed out. Unemployment is still around nine percent. Debt is mounting and there are talks about more spending. Dollar is getting devalued. Inflation is rising, in spite of an economic downturn. Healthcare cost is skyrocketing. College keeps getting even more expensive. As a matter of fact now college education is so expensive that people, including many Economics and education experts, are even questioning the worth of college education.
Unfortunately, on the other hand, with the exception of Ron Paul and Newt Gingrich, the whole squad of Republican candidates is made of politicians who are already sold out to big corporations and their lobbies. None of them has any new and practical ideas and programs. They just keep repeating old, known and famous phrases from classical Economics books. Less government, less spending, less regulation. But, if you ask how? They have no clue. Only Gingrich and Paul answer some of these hows. Even their programs are not comprehensive. No one has shown in definitive terms and numbers, how they are going to cut horrendous budget deficits and pay-off the insane amount of national debt.
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