The Rescue Package (Bailout)

Other than the blogs that I have published with who is to blame, and the videos on who is to blame, I have not really put my opinion out on this rescue package. I have heard countless so called "experts" say that it is needed, some say that it is not, I have heard some economists come out and say that it is needed, but we still might go into a recession, and others saying that we will be fine without it. So where could one stand on this, when in reality nobody has a clue if it will work or not? I have taken a few days to really think about this, and how we got here, and that is how I arrived at my decision.

I do not know of any large scale government program that has succeeded. It seems that the larger Washington is, and the more power they have, the more things get screwed up. Just look at Fannie and Freddie, Social Security, Welfare, Medicare and Medicaid, all of them pretty much bankrupt. The IRS was set up as a temporary organization, well it is still here. Why is the IRS still here? Because when the People simply give government the authority to have broader powers, even if only temporarily, they will never relinquish it. Roosevelt's New Deal, was a huge waste of money, and although some attribute us getting out of the Depression Era because of it, it was really World War II that got us out.

The market lost $777 yesterday, the biggest single day dollar amount loss, but it was the 17Th overall percentage loss (more importantly). Today the market has rebounded, and private citizens and enterprises are acquiring stock and companies at a bargain. The free market kind of corrects itself, without the real need for government intervention. The Treasury has already put so much money into the market, and banking institutions, is an additional trillion really necessary?

One thing that bugs me, if this was this big crisis that needed to be passed immediately, then how was Congress able to take 2 days off? It is all a matter of politics. Proof of it lies in the fact, as previously mentioned, that Pelosi told Democrats up for reelection that they did not have to vote in favor of the bill. She knows that the People do not want this. It is all political and the reason why Congress has a 9% approval rating.