What Is the Real Cost to Taxpayers of the Federal Bank Bailout?
abc NEWS
By MATTHEW JAFFE
WASHINGTON, June 25, 2009
The government loaned hundreds of billions of taxpayer dollars to help struggling banks, but giving out cash is always easier than getting it back — and now taxpayers could end up shortchanged by as much as $9 billion. …
http://abcnews.go.com/Business/Economy/story?id=7919201&page=1
America’s business landscape is now littered with fallen businesses. Could a value be placed on those lost jobs and businesses? Was the Great Recession free? Is America’s treasury now robust? Did America’s income decline?
There is no such thing as getting out of a recession FREE. That is one reason why responsible leaders of a country try hard to avoid getting into a recession. But denying you are in a recession when you are – solves nothing and looks bad.
Who shoulders the cost of recovering from a GREAT RECESSION?
- Chimpanzees
- Gorillas
- Robots
- Tax Payers
Pretend the latter day neocons were using money from your own personal bank account in order to fund their various worldwide terror fighting activities. You likely would have spoken up in 2003 when Iraq was in the sights of the neocon’s war machine. You may have continued your attempt at “micromanaging” when America’s terror fighters visited Georgia(next door to Russia) promising money to Georgia in Georgia’s fight against Russia.
You likely would have been keenly aware that after your bank account was depleted – you had a serious problem. You would likely NOT get out of that depleted bank account condition – free. THE MONEY THAT WAS GONE – WAS GONE! And YOU have to put it back. Monkeys can’t. And neither can gorillas but gorillas can balk if they want to.
Politicians do sometimes speak of finding new sources of revenue – but in reality all sources of revenue resolve to YOU. YOU are the only source of revenue. And even banks need YOU, the human being, to help start economic recovery from a GREAT RECESSION.
It is way too late to start preaching about America’s spending. That should have happened back when:
U.S. costs of Iraq, Afghan wars top $900 billion: report
A stitch in time may have saved nine
