Comments on: $700 Billion With A “B” Of Your Money–UPDATED http://melissablogs.com/2008/09/22/700-billion-with-a-b-of-your-money/ Information Pollination Mon, 21 May 2012 03:07:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Chris Hutcherson http://melissablogs.com/2008/09/22/700-billion-with-a-b-of-your-money/comment-page-1/#comment-9530 Chris Hutcherson Thu, 02 Oct 2008 17:26:16 +0000 http://www.melissaclouthier.com/?p=10619#comment-9530 How long will it be before more money is required, Is this just a short term fix ? How long will it be before more money is required, Is this just a short term fix ?

]]> By: Mat http://melissablogs.com/2008/09/22/700-billion-with-a-b-of-your-money/comment-page-1/#comment-9345 Mat Tue, 23 Sep 2008 19:30:09 +0000 http://www.melissaclouthier.com/?p=10619#comment-9345 $700B is just the starting price tag. This thing will easily go past $1 trillion (with a T), particularly if the Democrats start tagging on all sorts of goodies (they already have started this, by the way). The worst thing about it is that how can you tell them otherwise? Can you bail out one group and not the other? Personally, I have some major issues with this bailout (i.e. opposed to it) and yes I'm aware of the economic implications. But it's also clear that this may not work, since nothing like this has every happened before. Part of the problem lies with our economic mindset, which is to spend way beyond our means (everyone is at fault here). Simply having the government come in and bail out every irresponsible idiot out there will just send the message that it's ok to screw up spectacularly because it'll be taken care of. Either you pay the piper now, or you pay him later (we have chosen to pay him later), but you will pay him. There are no free rides in life. I don't see why this situation should be any different. $700B is just the starting price tag. This thing will easily go past $1 trillion (with a T), particularly if the Democrats start tagging on all sorts of goodies (they already have started this, by the way). The worst thing about it is that how can you tell them otherwise? Can you bail out one group and not the other? Personally, I have some major issues with this bailout (i.e. opposed to it) and yes I’m aware of the economic implications. But it’s also clear that this may not work, since nothing like this has every happened before.

Part of the problem lies with our economic mindset, which is to spend way beyond our means (everyone is at fault here). Simply having the government come in and bail out every irresponsible idiot out there will just send the message that it’s ok to screw up spectacularly because it’ll be taken care of.

Either you pay the piper now, or you pay him later (we have chosen to pay him later), but you will pay him. There are no free rides in life. I don’t see why this situation should be any different.

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