Yes, inaction may have brought on tough times for you and I. However, this action, in spending over a TRILLION DOLLARS will bring tough times for our children, grand children and great grandchildren.
As for me, I would prefer we have reality and do the tough times now as opposed to saddling future generations with a TRILLION DOLLARS of debt.
“As for me, I would prefer we have reality and do the tough times now as opposed to saddling future generations with a TRILLION DOLLARS of debt.”
I agree with you. At this point we aren’t going to pay that debt back, and neither will our children. The pain will only come when the market for US government debt starts to believe that it won’t be paid back and demand higher, even much higher interest rates. That may even start today, it may not.
Our politicians (including GOP politicians) will not do anything but attempt to keep the status quo intact. The markets, as distorted as they are now, still will rule. It will just be uglier than if we took responsibility for our actions.
I don’t like the bailout. There had to be another way but I don’t know what it is. All I know is that we are staring at a catastrophic failure courtesy of the Dems. See post 40.