Bailout Blues
I have skimped on lunches, school projects and exercise trying to get my head around this $700,000,000,000 bomb shell of a bailout. I've scoured the news for stories from different angles. Some say we should trust our 'best and brightest' in Washington and Wall Street who have been born and bred for this very purpose. Some say the bailout is fundamentally sound but should include more protections for borrowers, small businesses and the average joe. Some say we are redefining capitalism by rescuing financial institutions from their poor choices in taking on too much risk.
If there is one thing America should have learned in the last seven years, it is to slam on the breaks when George W. Bush stands up and calls for swift action due to imminent threats or devastating consequences if we delay. But here is where it gets interesting; Bush's ideological foes are reading from the same script! Barack Obama regurgitated the same call to arms for Congress and pleaded with the American people to support the bailout. Should we rejoice that at long last the right and left are coming together in a spirit of post-partisanship?
Now CNN is reporting that "sweeteners" are being added to the bill to get different constituencies and Congressmen on board.
Sweeteners? Sounds like a wholesale porkfest to me.
I am extremely reluctant to support this bailout plan. It just doesn't pass the smell test. How concerned should we be if this doesn't pass? Should we be any less concerned if it does?
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