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Government Bailout
Will the Government Bailout help you and your family? Perhaps not. Click on the link above to see how you can earn extra income.
Government Bailout Potential effects
The maximum cost of a $700 billion bailout would be $2,295 estimated cost per American (based on an estimate of 305 million Americans), or $4,635 per working American (based on an estimate of 151 million in the work force). The bulk of this money would be spent to purchase mortgage backed securities, ultimately backed by American homeowners, which possibly could be sold later at a profit, by the government. Economist Michael Hudson predicts that the bailout would cause hyperinflation and dollar collapse.
The 2008 federal budget submitted by the president is $2,900 billion, meaning a $700 billion bailout would constitute a 24% increase to $3,600 billion, which would in fact far exceed the $3,100 billion 2009 budget. The total government commitment and proposed commitments so far in its current and proposed bailouts is reportedly $1 trillion compared to the $14 trillion United States economy.
Government Bailout Views from the public
Protests opposing the bailout occurred in over 100 cities across the United States on Thursday September 25. Grassroots group TrueMajority said its members organized over 251 events in more than 41 states. The largest gathering has been in New York City, where more than 1,000 protesters gathered near the New York Stock Exchange along with labor union members organized by New York Central Labor Council. Other grassroots groups have planned rallies to protest against the bailout, while outraged citizens continue to express their opposition online through blogs and dedicated web sites.
In a survey conducted September 19-22 by the Pew Research Center, by a margin of 57 percent to 30 percent, Americans supported the bailout when asked "As you may know, the government is potentially investing billions to try and keep financial institutions and markets secure. Do you think this is the right thing or the wrong thing for the government to be doing?"
In a survey conducted September 19-22 by Bloomberg/Los Angeles Times, by a margin of 55 percent to 31 percent, Americans opposed the bailout when asked whether "the government should use taxpayers' dollars to rescue ailing private financial firms whose collapse could have adverse effects on the economy and market, or is it not the government's responsibility to bail out private companies with taxpayers' dollars?".
In a survey conducted September 24 by USA Today/Gallup, when asked "As you may know, the Bush administration has proposed a plan that would allow the Treasury Department to buy and re-sell up to $700 billion of distressed assets from financial companies. What would you like to see Congress do?", 56 percent of respondents wanted Congress to pass a plan different from the original Paulson proposal, 22 percent supported the Paulson proposal in its initial form, and 11 percent wanted Congress to take no action.
Senator Sherrod Brown said he had been getting 2,000 e-mail messages and telephone calls a day, roughly 95 percent opposed.
As of Thursday September 25, Senator Dianne Feinstein's (D-Calif.) offices had received a total of 39,180 e-mails, calls and letters on the bailout, with the overwhelming majority of constituents against it.
The Government Bailout may not even affect you and your family in a positive manner. In fact, it could hurt you. To see what will affect you in a positive manner, click on the link above.
Get more info on the Government Bailout now
en.wikipedia.org/wiki/Bailout_bill
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Government Bailout is Theftby abortedsoul1,156 views
why are they bailing out banks? and lenders? that dosnt make sense what they need to do is stop them from foreclosing on properties bacause thats how they are losing capital thats a no brainer really and they need to have them restructure those loans that were defaulted on thats another no brainer how can american goverment officals be so stupid?
doctorw2 3 years ago
Nobody bails the taxpayers out. The reason Bush and the others is because they own big oil companies, and if they didn't bail these banks out, their businesses would suffer. Fuck American business. Corporations are the worst thing to happen to America since the JFK assassination.
America does not need a bailout. America needs hope and a new direction.
hogger129 3 years ago