Democratic presidential elect Barack Obama, speaks during a news conference in Clearwater, Fla., (AP Photo/Chris Carlson)Recently I have been mulling over all of these proposed and enacted bailouts and asked myself, "Why don't they bail out us, the average people...we, the people?"
How about we all write, no, visit our political leaders to request that Congress provide each of us with $250,000 versus the billions they're giving to industries that will only fall again if we, the people, are not in a position to patronize them.
Many of us have had some investments and some operational expenditures adversely affected by the sudden downturn in our economy. It has caused us to have to reconsider supporting our local business, and I know that this has placed an unexpected loss of revenue on the local community.
This of course will have an adverse impact on businesses being able to meet payroll, and may result in lay-offs for workers, which will only exacerbate an already poor economy.
Personally, I will use this $250,000 to give a stimulus to both my local economy and guarantee a mortgage debt with my lender. This will provide an infusion of unexpected cash to this lender, and free up cash for them to continue lending money to others so that our consumer-driven economy can survive and return to a thriving expansion sooner rather than later.
Come to think of it, how far could the $700 billion authorized by Congress have gone if we would have simply paid the mortgages of American home buyers across the board, up to the average cost of a home in our country?
It seems to me that if this approach had been adopted, there would have been the desired infusion of cash into the marketplace, and home buyers would have been relieved of significant debt, allowing them to spend that money in the economy resulting in expansion instead of recession.
Instead, we are giving this money to companies that are obviously continuing to follow broken models, paying outrageous salaries and bonuses to a select few executives, taking excursions to far off lands (expanding other countries' economies).
Now we are being told that we are not going to retire mortgage debts or buy up questionable mortgages but we that we are giving the money to those very institutions that have pushed our personal debt out of all proportions so they can lend money to Americans already in financial crisis.
I was not in favor of the initial AIG bailout or the initial $700 billion Congress gave to the secretary of the Treasury, and I'm especially not in favor of giving more money to the auto industry.
I am almost at the stage of saying if my government can do these things and if the companies of this country can do these things, then I as a private citizen can likewise call for funds to help secure my household expenses and debts or the nation risks the removal of my cash and capital from the economy.
When viewed from the perspective of a lone individual, my letter is, no doubt, laughable. But if viewed from the perspective of 4.5 million people taking up the cause and removing their capital and cash from the economy, it is a destructive force of indescribable proportion.
Our politicians speak constantly of the "average citizen" and the "average" citizens experiences during their speeches.
Well, I don't know about you, but "average" to me means something like what my family experiences, day in, day out.
College tuition, Food, Gas, Plumbing (yeah, nothing like an unexpected leak to throw off expenses), medical, visa and immigration fees and other necessities.
I work...HARD for my money and I don't play. But how do you budget when one thing goes down and three others skyrocket?
All of us - you and me - struggle each month to keep our heads above water -- some, like me, trying to pay tuition for family members we're trying to keep in college, while doing what we, as everyday Average Americans have been instructed to do, take a good chunk of what we earn every week and toss the money into a retirement savings account. Then watch as mutual funds implode and years of savings are wiped out. But what are you going to do?
This foreclosure crisis has created a domino effect for all of us. Many are about to lose businesses, homes, apartments, cars, etc because as a direct affect, personal credit has spilled over into the arena. People are actually facing the possibility of being homeless or living in substandard housing!
Perhaps many of those struggling seem bitter, pardon them, but when they hear all this talk about bailing the fat cats out of their messes, it begins to take it's toll on these "average" citizens.
Now that so many are suffering financial chaos, funds for assistance to renters are also not readily available. Funds for those needing food is not available, but still we have those already receiving government assistance applying for and getting more and in no way are they assisting any sort of stimulation of our economy.
Many of those suffering have never asked for any public assistance while raising their family and now that they need help its not available to them?
What about those of us who have worked hard all our lives and can't catch a break now that it is needed? It just goes to show that those who have get and those who truly need are on their own?
Oh...and for heaven's sake, political leaders...Mr. President, don't let this get any worse. Forget bailing out the auto industry...if you don't help us and others worse off than us, bailing out the auto industry will be a wasted event since none of us will be able to keep the cars we have let alone afford to buy any vehicles! And in order to maintain the modicum of dignity that many of us might still have, we ask that you do this expeditiously so that we are not living in the streets, motels or our cars...........
Signed,
How about we all write, no, visit our political leaders to request that Congress provide each of us with $250,000 versus the billions they're giving to industries that will only fall again if we, the people, are not in a position to patronize them.
Many of us have had some investments and some operational expenditures adversely affected by the sudden downturn in our economy. It has caused us to have to reconsider supporting our local business, and I know that this has placed an unexpected loss of revenue on the local community.
This of course will have an adverse impact on businesses being able to meet payroll, and may result in lay-offs for workers, which will only exacerbate an already poor economy.
Personally, I will use this $250,000 to give a stimulus to both my local economy and guarantee a mortgage debt with my lender. This will provide an infusion of unexpected cash to this lender, and free up cash for them to continue lending money to others so that our consumer-driven economy can survive and return to a thriving expansion sooner rather than later.
Come to think of it, how far could the $700 billion authorized by Congress have gone if we would have simply paid the mortgages of American home buyers across the board, up to the average cost of a home in our country?
It seems to me that if this approach had been adopted, there would have been the desired infusion of cash into the marketplace, and home buyers would have been relieved of significant debt, allowing them to spend that money in the economy resulting in expansion instead of recession.
Instead, we are giving this money to companies that are obviously continuing to follow broken models, paying outrageous salaries and bonuses to a select few executives, taking excursions to far off lands (expanding other countries' economies).
Now we are being told that we are not going to retire mortgage debts or buy up questionable mortgages but we that we are giving the money to those very institutions that have pushed our personal debt out of all proportions so they can lend money to Americans already in financial crisis.
I was not in favor of the initial AIG bailout or the initial $700 billion Congress gave to the secretary of the Treasury, and I'm especially not in favor of giving more money to the auto industry.
I am almost at the stage of saying if my government can do these things and if the companies of this country can do these things, then I as a private citizen can likewise call for funds to help secure my household expenses and debts or the nation risks the removal of my cash and capital from the economy.
When viewed from the perspective of a lone individual, my letter is, no doubt, laughable. But if viewed from the perspective of 4.5 million people taking up the cause and removing their capital and cash from the economy, it is a destructive force of indescribable proportion.
Our politicians speak constantly of the "average citizen" and the "average" citizens experiences during their speeches.
Well, I don't know about you, but "average" to me means something like what my family experiences, day in, day out.
College tuition, Food, Gas, Plumbing (yeah, nothing like an unexpected leak to throw off expenses), medical, visa and immigration fees and other necessities.
I work...HARD for my money and I don't play. But how do you budget when one thing goes down and three others skyrocket?
All of us - you and me - struggle each month to keep our heads above water -- some, like me, trying to pay tuition for family members we're trying to keep in college, while doing what we, as everyday Average Americans have been instructed to do, take a good chunk of what we earn every week and toss the money into a retirement savings account. Then watch as mutual funds implode and years of savings are wiped out. But what are you going to do?
This foreclosure crisis has created a domino effect for all of us. Many are about to lose businesses, homes, apartments, cars, etc because as a direct affect, personal credit has spilled over into the arena. People are actually facing the possibility of being homeless or living in substandard housing!
Perhaps many of those struggling seem bitter, pardon them, but when they hear all this talk about bailing the fat cats out of their messes, it begins to take it's toll on these "average" citizens.
Now that so many are suffering financial chaos, funds for assistance to renters are also not readily available. Funds for those needing food is not available, but still we have those already receiving government assistance applying for and getting more and in no way are they assisting any sort of stimulation of our economy.
Many of those suffering have never asked for any public assistance while raising their family and now that they need help its not available to them?
What about those of us who have worked hard all our lives and can't catch a break now that it is needed? It just goes to show that those who have get and those who truly need are on their own?
Oh...and for heaven's sake, political leaders...Mr. President, don't let this get any worse. Forget bailing out the auto industry...if you don't help us and others worse off than us, bailing out the auto industry will be a wasted event since none of us will be able to keep the cars we have let alone afford to buy any vehicles! And in order to maintain the modicum of dignity that many of us might still have, we ask that you do this expeditiously so that we are not living in the streets, motels or our cars...........
Signed,
An American Citizen
It's about time somebody said what many of us is probably thinking!
ReplyDeleteI'm not greedy but I think if the gov can bail out all these corporations and whatnot why can't they bail out us hard working tax paying folk?!
That $600 didn't stimulate nuthin to be honest. It was gone before I really got to spend it: fodd, gas, more food, more gas.
And look, they give that Bank of America all that money then they turn around and LAY OFF FOLKS! WTF!?
Robbery without a gun is what it look like to me!
I voted for Obama and I know he's got good intentions but something gotta happen and fast so we can stop drowning. Look at all these people unemployed. It's getting scary ya'll...
I hate to be the voice of reason but there has to be some realistic facts injected into the discussion. It is mathematically impossible to give a bailout check of 250k to all Americans. Second, $3500 per person will not make a major impact on the economy. If $600 didn't $3500 won't either.
ReplyDeleteBailing out the companies is not really such a bad idea. Giving it with no strings attached is. If the auto industry in America collapses an estimated 5 million jobs would be lost. Don't be fooled by thinking that because you don't work on the assembly line or that you don't work for an auto company, it won't effect your job. How many companies derive there income from industries that serve the auto industry? Steel, electronics, plastics, computer hardware and software. What about the health care industry that serves all of those people who would loose their jobs? That means at least one of these people in this discussion would not have a job.AIG provides reinsurance well over 500 smaller insurance companies. If they were allowed to fail the entire insurance industry in America as well as at least 15 major banks throughout the world could have collapsed. It's very simple. Here are some strings I propose be attached to ANY company receiving bailout money.
1) All CEO's and Presidents of these companies are FIRED no golden parachute and don't let the door hit you in the %#&@$!! In addition, all board members that are part of the compensation commitee that aproved these ridiculous salaries must resign. If they remain NO MONEY.
2) the top 20% of all management take an immediate pay cut of 35% or they are fired.
3) no bonuses, stock options or pay raises for ANY management until every dime is paid back.
4) all companies submit to a full monthly audit. Any waist discovered, then that management is FIRED.
5) the remaining management will take pay cuts in direct proportion to any layoffs. In other words, if they layoff 15% of the hourly workers, they take a 15% pay cut.
6)A viable business plan of how the money will be paid back will be submitted. If I have to show the bank how I'm paying back a loan then they should to.
Last, any monies given to any companies will be matched by dollars into public works projects. This will create hundreds of thousands of jobs and repair or infrastructure at the same time.
A bail out of the people? Doubt it will really happen unless we count that measley $300 they gave us early this year.
ReplyDeleteGood idea though, but you know some of us would just blow that shyt on bullshyt.