Quick Bailout Thoughts

September 24th, 2008at 07:25am Posted by Eli

I hope Obama and the Democrats keep in mind that every dollar that goes towards the bailout is a dollar that can’t be spent on universal healthcare or lower-bracket tax cuts.  So they really need to make sure that the bailout cost is really the absolute minimum needed to stabilize the economy, and that none of it is wasted on making life easier for the Wall Street wankers who created the crisis.  I also like some kind of variation of Bernie Sanders’ 10% surtax on people making over a million a year.  Give the rest of us a break and let the rich pay for their own mess.

I also can’t help wondering: If the Republicans and Bush administration had given a damn about giving the rest of us a break, and had addressed the stagnation and even decreases in real wages and increases in the unemployed and underemployed (not to mention the lack of healthcare or protections against predatory lending practices)… would there even be as many people defaulting on their mortgages right now?  There is economic value to a healthy consumer class, but Republicans just can’t grasp the concept of trickle-up.

Entry Filed under: Bush,Corruption/Cronyism,Democrats,Economy


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