Saturday, September 20, 2008

$700 Billion!?!?!

So the government wants $700 billion dollars to bail out Wall Street, at the taxpayer expense?Give me a break! If I ran my personal finances the way the government runs theirs, well I guess I'd be $11 trillion dollars in debt. I know there are lots of complicated equations and reasonings why this has to happen and all those poor bankers and investors aren't going to make their bonuses this year and a bunch of people who were trying to get rich taking advantage of others and make a quick buck on a risky real estate deal are walking away from the problem THEY created. But how the hell are we (and your kids, if you have them) ever going to be free of this mounting debt? It seems like the bottom is going to fall out of this at some point and our money will be worthless. The government buying up all the bad debt (which will be worthless by some standards that I have read) and then trying to find someone else to buy it, seems like a band aid on a decapitation.

We are royally fucked on this one. The bridge between the rich and the poor just got a lot bigger. I see these people in their $70,000 SUV's wearing $400 a pair jeans, they could care less what the price of gas or anything else is. And they are happy to cut you off in order to get there first. The burden of this whole thing is going to fall on the middle class (the few who are actually there) and the poor. It always does. And boo-hoo if you make over $250,000 a year and are going to end up paying more taxes. I guess that third trip to Cabo this year will just have to wait. Taxes are going to HAVE to go up. How else can any of this (Bail out after bail out, Wall St., Iraq, probably Iran) going to be paid for??????

3 comments:

The Athens Blawg said...

Amen, brother!! How come the government is willing to "bail out" crooks, but not me?? I'm writing my congressman and seeing if the U.S. will wipe out all of my debt in the interest of economy boosting. We need fair tax and we need it now. Fudgin' Pinkies.

Anonymous said...

hey pal, that's dangerously close to plagerism there... watch it...

SLP said...

hey i'm not the guy who left an amazing 3 piece to pretend to be Elton John. copy-cat.