...how come the government is able to say, "Oops, sorry, we'd like to change where the 700 Billion dollars of bailout money will be allocated?"
...how come they can tell us, "Sorry, we know you taxpayers are footing the bill, but it's really none of your business that we just loaned 2 trillion dollars of your money. No, we won't tell you to whom we loaned it."
The last price tag I saw of tax payer money spent so far is 3.5 trillion, but others say it will be more like 5 trillion dollars or more before we are done. Oh my goodness, can you even wrap your mind around that number? This article was the best I found for breaking down the spending so far.
Where does it stop? Come on in, the Treasury's open!
Now everyone has their hand out looking to dip into the US Piggy Bank:
The auto industry is asking for 25 billion and may get as much as 50 billion.
The mayors of Philadelphia, Atlanta, and Phoenix want a cut while we are being so generous.
What will the final bill be? How can we spend more and more money that we just don't have? Honestly, I'm not trying to be sarcastic. I really want to understand. Why are we robbing from our children? At what point will we just collapse?
When my youngest daughter heard the radio say 700 Billion Dollars, her eyes got wide- "Mommy, is that really a number?"
Is it? I don't know. : )
I think the lawmakers need to sit down with the princesses and watch what they do with their allowance money. 10% to God. 10% to long term savings. 80% being saved for the Wii they are dreaming about that will probably take them the entire year to earn, but they understand "you don't spend money you don't have." And if you want money, "you work for it." Simple, right?
OK, you economists out there. Please explain. : )