President Bush's $7B Economic Intervention
@mythicalphoenix (35)
United States
September 22, 2008 11:42pm CST
When I heard about this plan I almost fell on the floor. First of all, the idea of this plan is released with virtually no details. Second this is the biggest government intervention since the great depression. Third, where is this money going to come from?
All I know is that if this plan goes through the average persons taxes are going to skyrocket, and people are already barely surviving. And I disagree with the argument that this plan is a good idea since the government might make money off it. Personally I am more worried about me making money - and all that seems to happen is prices are going up and my wages are staying the same. And now you want to tax me more???
I would like to hear other peoples view of this plan. Also, do you think this plan will actually work?
5 responses
@fifileigh (3615)
• United States
23 Sep 08
i think this plan is garbage like everything else they have been doing so far...all a big mess...their bs....
@cobrateacher (8432)
• United States
23 Sep 08
Why would it help anything to reward those who have the big bucks for irresponsible spending? They'll get more of what we can't spare, and we'll be searching for any way we can make a few extra dollars just to get by, again! Who's offering to bail us out?
@juhi06 (1850)
• India
23 Sep 08
we say vinash kale viprit budhhi.
which virtually means that when the disaster is likely to strike and around nothing will go as you wish to and the actions will lead you to disaster!!
it is definitely not the right step!
but to fulfil the hurt ego on account of economic slow down and failure of the bigger financial institutions the bush administration appears to have taken it as personal defeat!!
@lizard211 (240)
• United States
23 Sep 08
I think you are not the only one surprised by the magnitude (I think you meant to put $700B, not $7B). I do not think this intervention is going to work for two main reasons:
1) There needs to be regulations put in place and money put into Main Street also, not just Wall Street. By just throwing money at the financial sector is not going to fix anything. All I think it will accomplish is prolong our economic decline.
2) In reality, our economy has been on the decline for years, under both Democrats and Republicans. Trade deficits, outsourcing, "funny money", etc.. are just some of the factors that have contributed to our present economic state. Obviously, the housing market is also a major factor but that was built on what I call "funny money".
