I think the bailout stinks! It's terrible that the Government is effectively rewarding businesses that took substantial risks, walked away with the profits and are leaving the taxpayers with the bill. I think it sets a bad example for the future, that it doesn't matter if you make bad business decisions - Uncle Sam is going to be there for you to pick up the pieces and get you out of the mess you've made.
But I think that it's necessary. I think that without it, more people are going to be hurt in the short term, as businesses collapse and people end up out of work.
I think that it absolutely stinks, but it is absolutely necessary. It's kind of one of those lose-lose scenarios, except I think it's a bigger "lose" if the Government doesn't go through with the bailout and they need to decide on the lesser of two evils.
Congressmen/women and Senators are elected to make tough decisions, and sometimes decisions they don't want to make. I don't envy them in making this decision. I think that no matter what they choose, it's not pretty. Your debt's going to increase, your economy's going to take a hit, your taxes will have to increase and your government services will have to take funding cuts. I think all of that is bad, but I think this is one of those bitter pills, that spoonful of medicine (or more likely, cod liver oil) that you really don't want to take but you have to if you want to get well again. I think the bailout stinks, but you've got to do it.
I posted Peter Costello's comments about it the other day... let's see if I can find the link...
https://uselectionatlas.org/FORUM/index.php?topic=84375.0It's not often a conservative argues in favour of government regulation in the market, so I think it's an interesting article to read.
