chrism39's Blog

Nov. 24, 2008 at 7:50am

Again? Another bailout, really?

WTF, how and why do we keep bailing these companies out. We do not have the money to do this. So we can give major companies money, but we can cut funding in another areas for the poor and vulnerable. This is ridiculous and shameful.

comments [5]  |  posted under whatever

Comments

by NineInchNachos on 11/24/2008 @ 9:27am
Zombie Economics

jameshowardkunstler.typepad.com/clusterf...

by ensie on 11/24/2008 @ 10:05pm
Not that I don't agree with you. We definitely don't have the money to do this. However, the loss of well over a million jobs (companies plus support industries) should, say, the Big Three car companies die. I'm not sure what the solution is...

by fredo on 11/25/2008 @ 8:08am
Chris@ I'm getting tired of the big bailouts, too. We do have an auto industry in the US that is not related to the big 3 which would become more robust. For example, Toyota Camrys are built in the US.

If we had national health insurance then employers would probably increase employment levels as the cost of employees would go down.

I have to add that the relatively high pay levels for many people in both the public and private sectors are really quite unsustainable. If these funds were distributed a little more fairly we would enjoy lower unemployment levels.

by Nick on 11/25/2008 @ 10:40am
I wonder if it would be more cost-effective, and more acceptable to be bailing out the unemployed and creating jobs elsewhere rather than propping up failing businesses.

It's one thing to prop up a major bank or two when things are happening so fast you have to act on your toes. It seems quite another to support a failing business model.

How about establishing an emergency unemployment support system that is more robust than our existing programs? I'd rather spend 3x the money to allow reckless organizations to suffer the consequences they have earned while supporting the employees that lose their jobs by providing new opportunities.

What those opportunities are I have no idea, but this is a path I'd rather see pursued than our government's current strategy.

by jane on 11/25/2008 @ 10:49am
Want to learn more about the Federal Debt? Watch this movie ( www.iousathemovie.com/ )

"To the U.S. economy what 'An Inconvenient Truth' was to the environment." Reuters

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