Bailout...

I'm not that financial savvy (and please correct me if I'm wrong), but from what I could tell the $700 billion bailout yesterday would have been a good thing. Right? I mean the sole purpose behind it was to help people out in the long run. I don't know all the details to it because the bill was 104 pages long, but from what I gather it was supposed to help people to spend more thus nourishing the economy. Some people would have preferred the money went straight to the people to rejuvenate the economy themselves, but the problem I have with that is that it wouldn't do any good. Most people, myself included, would take that money and spend it on paying off their debts. Mortgages, loans, credit cards, bills. That's what I would do and that doesn't really help the economy.

The bill would have made it easier for people to get things like cars, homes, groceries or whatever, despite poor credit. It also did not bail out top execs and high grossing companies. It seemed like a good thing despite an increase in taxes. Now I don't make a lot or at least I don't plan on making a lot so any more taxes is really gonna dip into any disposable income I might have. But the whole point of this is to increase the ability to spend. People aren't going to spend unless a bailout happens (again correct me if I'm wrong) so why didn't this pass?












It didn't seem to be just one party, though there were more Republicans who opposed it than Dems. I think I read that members of the House were worried that if they voted for the bailout their constituents would not reelect them. How selfish and cowardly can people be. They are elected to make these tough decisions. That's the reason people vote for them; to do the right thing. How can it be that they are worried about themselves and not the welfare of the people they supposedly represent.

Hopefully another bill comes up, one that is a little easier for people to digest because if it doesn't who knows what will happen. Obviously I don't know what it was like before the Depression, but if the fear mongers are right and we are headed toward another Depression, it would suck that it happened because people were too scared to pass a bill. I don't condone bailing out these companies that don't care about people and exploit every penny they can out of us, but sometimes you just gotta say what the f*ck.

Anyways, that was just on my mind so I thought I'd see what other people think. I'm not sure exactly what needs to happen but something does because from what I learned in my couple years as an Econ major, we are not headed in the right direction. I would not be surprised if we went into another Depression. It's been heading that way for years and it seems like all it needs is another big thing to happen (or not happen) to make us fall into a Depression. High prices, low wages, no jobs, no credit, foreclosed houses, etc. I mean if that doesn't say Depression I don't know what does.

Go big

-M, p, z & shredder

oh ps - remember just a few weeks ago when McCain said the economy was healthy and in fine shape. God help us if he wins...