We, as a country, are walking with our eyes wide open through the world seeing only that the Euro Zone has been biting the bullet and are about to come out of their depression that we have foisted on them and now we as a nation are going to start paying our dues. It would have been much better to have washed this all out in 2007 instead of kicking the can down the road.
The Federal Reserve gave the banks and industry much in the way of subsidies (industry to hire people, which they have done very little of, and banks to the tune of $88 billion a month to clear their balance sheets of bad loans - bonds and mortgages). You wonder where the $17 trillion came from. Don't listen to those Whiz Kids on Wall Street and the conservative mantra, bleed the government of money and underfund everything. This they have done for 35 years and see where it has taken us.
I'm getting pretty tired of hearing nothing but rhetoric from our leaders, both sides of the aisle. In general, Americans have known for a very long time - years - decades - that we are in trouble as a nation. We, the people, must assume full responsibility for where we are and must rein in this ship of state and vowing change so that this may never happen again. This can only come from the people.
Is it OK for the biggest banks, almost all corporations, the military, Medicaid, SSI, flood insurance, vehicle insurance, life insurance and many more groups to get their protection from the larger group or the taxpayer? This, folks, is socialism in bold, beautiful bloom.
You can take all of our dysfunction and place it at the feet of capitalism. If you are able to wrap your mind around any single problem that we are facing in our country, society, etc., today and take it back to when it became dysfunctional you will find that someone wanted to become an entrepreneur on your tax dollar. The is only one instance of capitalism gone awry.
Eugene A. DiClemente