The latest news is that the bailouts so far have not worked so there is a need for another bailout. I heard once that doing the same thing over and over and expecting different results is a sure sign of insanity. What does that say about the current situation?
The auto companies were failing so the government bailed them out.
The banks hit a rough spot so the government stepped into save them (well some of the banks anyway).
The investment industry saw their bad investments go bad (and were shocked) so the government stepped in to help them.
The auto companies are failing so the government is stepping in to bail them out – didn’t we do this once?
How much debt is too much debt? When does the government stop the handouts? Every dollar that is printed and spent is carried on the backs of individuals like you and me. My children’s grandchildren will still be struggling to pay off all of the debt that the government is proposing.
The bailouts might seem necessary but they haven’t worked before. All these bailouts are really doing is digging a deeper hole for the economy to eventually fall into. It is time for the insanity to stop.