My good friend Tom and I don’t agree politically very often- so I’m really glad to be in his corner on the issue of the evils of the bailout money and the tragedy that our government is spending our tax dollars to salvage really awful, shortsighted, and greedy decisions within the financial district. I’m glad that we can also agree that the government has no right to keep a failing US Car industry afloat by stealing money from its citizens after they chose to support non-US brands instead.
It’s a big number. More than any of us will probably see in our lifetime.
OK, so $700 billion is obviously a lot bigger, right?
These two sets of numbers are a little more manageable. I’ve spent $22 dollars within the past week.
When we make these numbers comparable to what normal Americans interact with on a daily basis- it turns out to be about the same as a guy who takes his $700 paycheck (or to make the analogy even more pertinent takes a month’s worth of unemployment claims) and tries to put in his “2 cents” worth to a senator or representative.
4/29/2009 02:15:18 am
4/29/2009 03:19:38 am
It's estimated that $10 billion a year could provide clean water for all of the world's people. We've already spent that much *every month* for years for the war in Iraq.
4/29/2009 04:05:41 am
They created the $700 billion out of thin air, you know that. Like you, I don't like government intervention in the private sector. However, in this case, I would say it's the lesser of two evils--the other being the collapse of the banking system. They're all intertwined these days, and if Citibank for example were to go under, then you'd have dozens of others going under, just like the proverbial dominos falling. Look what happened when Lehman Brothers failed--and they were small potatoes compared to Citi or Bank of America.
Comments are closed.
Nathan Key likes to think about faith and philosophy and talk about it with others. He lives with his family in New Hampshire. He doesn't always refer to himself in the third person.