More bailing will sink us
Published 10:10 am Thursday, February 19, 2009
Our Congress is going to have to answer a very important question: Who is going to bail out the bailors?
When will the bailouts stop? When will our elected leaders in Washington D.C. realize the American taxpayers are over burdened and “bailouts” are a slap in the face to many hard working men and women who have never asked for help.
First came the bank bailout that amounted to a blank check with no accountability. Then came the auto manufacturers asking the taxpayers for assistance. Next was the stimulus package that “bailed out” almost every government agency you can imagine but won’t do much to help the majority of Americans. Now the automakers are saying they didn’t ask for enough and will need some more tax dollars to help bailout their billon dollar industries.
Another bank of bailouts may be on the way.
Something has to give. Our Senators and Representatives have to realize this and work to find a middle ground between securing the economy and not burying current and future generations under a mountain of debt.
No industry or agency should get a handout without agreeing to some clearly defined standards and guidelines about topics that include profit margins, bonuses and repayment schedules.
GM or Ford wants to give their CEOs six figure bonuses? No problem, after every single tax dollar lent to them by taxpayers is repaid.
Capitalism may not work like that typically but all bets are off when the American people are asked to pickup the tab.