Bail Out People Not Root Of Problem

by Scott
(Delaware, OH, USA)

I was actually happy to hear that the financial bailout plan failed. I realize that something needs to be done to prevent further economic chaos, but I do not think giving away 700 billion of our tax payer money to the corporations that caused this crisis is the right idea.

I heard Ben Stein on Larry King Live mention the idea that the 700 billion should go to the tax payers so that they can pay their bills, keep their homes, and put much needed money into the economy.

I do not normally agree with Ben Stein on anything (he is way to the right and I am left); however, this comment by him made perfect sense to me. If the economy is suffering and people are losing their houses and jobs, it only makes sense to give the people who need the money the most the bail out.

I understand that credit is frozen for big business and they are saying that it will soon be frozen for small business and perhaps even common citizens, but is that really a horrible thing? I do not want to see businesses going out of business, people being laid off, and credit being denied for the long term, but we are a nation of debtors.

Could we not use this crisis to completely reevaluate how we do business in this country and how we live our lives on other people's money instead of living within our means?

This is just a radical thought I have been having, but I feel that crisis mode calls for radical thinking.

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get Your Best Mortgage Rate.