Ok people - let's talk bailout. As you may, or may not, know Bailout, Take 2 went down in defeat again today. The information tends to lend itself to the fact that many of us called to denounce the plan in its current form. The Republicans are reportedly the ones who tipped the scales with the school of thought being they didn't want to upset voters 5 weeks before the election. Fine and dandy - I'm just glad it was blocked and here is why:
This bailout is not designed to help you and me, Mr/Ms Average Citizen. This will in no way help us in any real manner. Sure, it could bolster the economy with a short sighted fix but I think "We the People" are demanding a long term fix for the price tag they are placing on it.
I do not care one stinkin' bit about the big financial houses who are struggling (and clearly they do not care about us). It won't help me if the government buys up the bad loans. I am sick and tired of "trickle down economics". We need "trickle UP economics". Help the little people down here in the middle and lower income brackets who are struggling to pay mortgages, put gas in our cars, buy groceries and pay for all the other millions of necessities (insurance, power, etc). Give US the help so we can afford to live and afford to put some of our hard earned money back into the economy. Let's use me for an example: if they would roll back mortgages (let's just say they take Whoopi Goldberg up on her idea of taking all mortgages taken out since 2003 and slicing them in half and writing off 50%) that would leave more "pocket money" and with that I could hire a guy to come in a weed our gardens. He would take his few hundred bucks and buy things for himself or his family (helping big business). I could afford to take the kids to the zoo more often thereby adding to the funds to pay caretakers who will buy things (again, taking care of big business). I could put my daughter in preschool which would pay teachers and building maintenance. Donate money to help my son's school and other very important, and underfunded, causes. The things we could do with the money could make a difference and then add to that the other people who would no longer be struggling to make ends meet and who could add their money to the economy. Trickling UP (probably more like pouring up as many of us would love to buy non-necessary things or take trips or splurge on something) instead of every so painfully and slowly, down.
Bailing out corporations isn't the solution. Reworking the loans into affordable terms for people - that's a good move. Buying down mortgages - that's a good move. But the government buying up bad mortgages? What good does that do the people who had the bad mortgage? None. They see nothing in return for that - they are still out of their home and struggling to make it.
It's probably true - some people over bought when they entered the housing market a few year ago. They were greedy, some might say. Sure, ok, let's go with that. But the majority are good, hard working, well meaning people who got into an adjustable rate mortgage they could afford for the first year, maybe even the second. Then the payment went up...and then gas...and then food...and then insurance...and then medical cost...and then the special dog food that is needed to keep their dog from getting sick again....and then..and then..and then. The rise in cost for everything is absolutely endless - unless you are talking about income. That has not gone up.
Is it any wonder some people have to walk away from their houses? When it becomes an either/or between mortgage or food for your children - what are most parents going to choose? And the thing is - it should not BE an either/or. Houses should be affordable and the fact that home values skyrocketed (some might say incorrectly so) is a huge factor in people getting in too deep.
So the bailout for big business...not the right move as far as I'm concerned (and I'm not alone). A bailout for the average American citizen is a MUCH better use of our (read that again: OUR!) tax dollars. And once WE are bailed out, people will be able to pay their mortgages, et al, thereby making the economy solid once again.
So politicians are afraid to vote for something the American people are saying is the wrong move but when, oh when, will they see what we are saying? I called all my representatives and left messages and according to articles everywhere, millions of us are doing the same thing.
Use out tax dollars to help US. And in turn, we will help big business. But use it to bail out big business and I'm afraid we are all in even more trouble than we are right now.