John Stossel rips bailout, talks Constitution

ABC's 20/20 Co-Anchor John Stossel is interviewed by Matt Mittan, Host of "Take a Stand!" during the 'Defending the American Dream' conference in D.C., Oct 08.

Category:

News & Politics

Tags:

• John
• Stossel
• ABC
• 20/20
• Matt
• Mittan
• Take
• Stand
• WWNC
• Talk
• Radio
• AFP
• bailout
• consitution

[chickatawbutt]

John is one of the few, actually only one I can think of in the national media that is worth listening to. Unfortunately I'm afraid that we won't do "OK" because of the morons running our country are going to run it into the ground and ultimately the dust bin of history. They keep promising more and more entitlements without the means to pay for them all to buy votes and stay in power. You folks in your 20's and 30's better stand up soon and say no more, this is crap!

[WSOR4025]

I think we are on the same page for the most part.I agree with pretty much everything you said.I guess it depends on how you define our prosperity.I think we will have have big drop in our standard of living, how far it goes I don't know but an inflationary recession will be very ugly. At worst we have large civil unrest and we become a police state, at best we weather the storm like the last depression and we come out ok.One thing is clear we must all live within our means, government included.

[WSOR4025]

I did find and watch that. At least someone in the media said something about this madness. Your right it was close but no cigar. One can only hope on a future show he will dig a little deeper and raise more eyebrows to the mess we are in.

[WSOR4025]

We may technically not be bankrupt right now but very soon we will be. The entitlement programs alone will add 50 trillion in debt within the next 30 years or so. Our system is headed for a meltdown, simply because its unsustainable.

Inflation is also a huge concern. Our Government has no money to spend on new programs or bailouts so they borrow the money and pay the bills with newly created money.Paul Volcker raised interest rates to curb inflation, Bernanke has lowered them to all time lows.

[believerofyah]

Try to find him on 20/20 12/19/08, He at least made it to the Federal Reserve door step and asked, "Where is the money". Close but no cigar. However, he should have raised some eyebrows from we the sheeple.

[WSOR4025]

Stossel talks about how he likes to investigate things, why doesn't he do a show about the federal reserve and our fiat currency. Then he could find out the truth about inflation, the collapse of the dollar, and our future economic doom.

[norcofreerider604]

It's gonna become a crisis if the gov't keeps buying toxic debt and bailing out bad investments. I say let the market correct itself and get rid of the fed.

[jsyc07]

John Stossel is awesome but he is no economist. This country is headed for an economic collapse of epic proportions. He should interview Peter Schiff. I'm very surprised he actually believes the gov't number of 3% inflation. He mistrusts gov't as much as anyone. Inflation is probably over 10% and it's only going to get worse. Maybe that could be his next show.