Friday, December 12, 2008

Having Difficulty Tracking All the Bailouts?

You can use this excellent interactive guide from Slate Magazine. (Here)

It is staggering how much they are spending. Now all we need is a clear guide for how it is all going to be paid for. It's amazing to me that this whole crisis was brought on because Americans were racking up ridiculous mortgages, credit card, and personal loan debt. Now the solution is merely shifting this unmanageable debt to the government. It will not bode well for the future. You have to start paying the bills at some point.


  1. Yes, the first US government went bankrupt under a massive debt load from the Revolution War . Their paper money was worthless. That lesson lasted for over 100 years. The US may have to relearn the value of paper money, and huge debt costs, all over again.

  2. Yes, and at least you could say that it was a great cause. Going bankrupt so people can continue to make $73 an hour to screw in lug nuts doesn't seem right to me.