Do The Right Thing
Posted by: Not The Only One in Government Incompetence, Government Corruption, Economics, Government InterferenceI was recently made aware of Right.org, a website opposed to the bailout addiction currently going on in our country.
I never thought bailing out any corporation was a good idea for the federal government to do. Someone who truly believes in the free market would never support such an initiative. Unfortunately, the heads of these corporations which are “too big to fail” (a real joke because in capitalism, no business is too big to fail) see all those years of giving bribes to Congressmembers as unofficials premium payments for some sort of funky “bailout insurance” in the case that their fiscal irresponsibility may actually cause the company to fall flat on its face. Now, our six-figure collecting representatives in Capitol Hill are coming to the rescue, determined to save every one of their campaign donors even if it takes every one of our tax dollars and dollar of Chinese credit to accomplish their twisted goal.
Well, Right.org illustrates my frustration perfectly. They have a debt calculator for you to use to figure out how your family’s share of the cost of bailout funding so far. There’s even a great news section to help visitors get more familiar with the issue and why a government bailout truly is corporate welfare at its absolute worst. There’s a video section full of informative commentary and hilarious spoofs for those who aren’t that into reading. And speaking of videos, Right.org is holding a contest for the best 30-second video opposing government bailouts with the winner receiving $28,130, the cost of the bailout for the average taxpayer.
In short, Right.org is furiously waging a multimedia campaign to keep the American public aware of the disastrous nature of government bailouts, and I hope it fulfills its goal. Check out the site, and send a link to everyone you know-especially anyone who says the bailouts are a good thing (like your Congressmember).
Entries (RSS)
February 16th, 2009 at 3:31 am
What disturbs me is that we already had $10 trillion in debt before last Sept. Now we tack on $8 trillion in bailouts? And that doesn’t even cover the cost of entitlements!? I wish Americans would understand that it’s not about Democrats vs Republican and simply look at what both sides have done, are doing, to the wealth of this country. Sadly, half the people in this country believe that Republicans are simply voting against the spending bill for partisanship. In fact, their opposition is wholly correct. Americans do not trust Repubs motives because they too have spend like crazy over the last eight years. The Repubs may not have any interest other than not supporting the Dems, but in this instance it is the moral thing to do and they got it right.
February 16th, 2009 at 2:41 pm
It only took eight years for the Republicans to come around and follow their consciences instead of their lobbyists. I guess they’re finally coming down from their decade-long power trip and seeing it is now the Democrats who are drunk with power, all the while President Obama is trying to play mediator and compromise with both sides.
There are three important things that the media is either not emphasizing enough in its coverage of the bailout orgy or the general public is simply not getting about the issue:
1) Washington is funding this initiative with money the U.S. doesn’t have…in other words we’re borrowing the money from Chinese banks. Since China’s communist government has partial ownership in all Chinese banks, the Chinese government is actually lending us money. We already owe them at least a trillion dollars, what’s another couple trillion? What happens when our Chinese creditors increase the minimum payments, or demand payment in full? Throughout history many nations have sold off part of the territory to pay off debts, and it will be a sad day if the Chinese decide to foreclose on California, Oregon, or some other large chunk of American real estate with the same value as our debt. But maybe they don’t want our land at all, and the Chinese government will instead settle for our nuclear defense secrets. You and I probably won’t be alive to see that day though, as the taxpayers who will pay this crippling debt burden have most likely not even been born yet.
2) If the public thinks the money Washington is throwing at American industries is a lot, wait till they see the added expense of all that “oversight”, making sure the clowns at GM, JP Morgan or any other corporation asking for a bailout isn’t flying private jet to exotic company timeshares or writing off escort services or cocaine parties as business expenses. Checks and balances don’t come cheap, just ask our six- and seven-figure salaried representatives in Capitol Hill. Who knows, the cost of all this oversight may outweigh whatever money we actually send to these corporate fat cats who couldn’t run a laundromat, much less a multi-billion dollar corporate conglomerate.
3) Fiscally responsible Americans have to pay for the fiscally irresponsible. With the mortgage crisis, those of us who live within our means are forced to pay for those who voluntarily sign mortgages for homes they cannot afford. Through corporate taxes, businesses that acted responsibly must pay for the businesses that did not exercise fiscal responsibility. And of course, although corporations are charged taxes, they pay them but rather pass them on to their employees in the form of lower wages and/or benefits or pass them on to the consumer in the form of higher prices.
Nice blog, by the way. Mind if I add it to my blogroll?
June 29th, 2009 at 7:25 pm
Very good information. Thanks for letting me know about this to help me in my foreclosure problems.