Thursday, December 11, 2008


305,858,630 is an estimate of the population of the USA. Fannie Mae/Freddie Mac bailout could reach 100 billion dollars. Auto bailout could reach around 59 billion dollars. Financial bailout could cost 1,000 billion dollars. AIG bailout could reach 150 billion dollars.

Let's assume the rest of the bailouts (States, newspapers, favorite industry,etc.) is only another 15 billion.  That makes 1324 billion dollars or $4,328.8/ person of course since we don't have the money we have to "borrow" it @ 5-8% per year.

The latest bailout is of course the auto industry.  My wife & I come from Michigan where the auto industry is the major employer & we have relatives who are retired from GM.  The conservative in me does not want to give these companies the money to build cars that most people don't want but the Christian side of me does not want put people out of work.

In general I am against bailouts since I don't want my grandkids to have to pay for our excesses.  The capitalist system tends to work best without government intervention. 

I am also afraid of a society that can not make mistakes & pay for experience, some times I feel that the voters voted for the president elect since they want others to pay for them.  I saw a cartoon that had a couple getting a mortgage payment & saying it must have been mailed before the election.  There was a YouTube video showing a woman wanting Obama so her mortgage & other bills would be paid.

I am rereading "Atlas Shrugged" by Ayn Rand & worrying that it is happening per the book.

Rant to speak or declaim extravagantly or violently; talk in a wild or vehement way

No comments:

Post a Comment