When will the average citizen get debt relief will the?
Trader G asked:
Government bail erase the debt of the little guy? It’s the only fair thing to do, after all they bailed out the Banks who started this Meltdown in the first place.
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Government bail erase the debt of the little guy? It’s the only fair thing to do, after all they bailed out the Banks who started this Meltdown in the first place.
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Tags: Banks, Little Guy, Meltdown
November 24th, 2008 at 5:09 am
No; they won’t do that. Think about it…if they didn’t bail out AIG, it would cause even more of a mess for the individuals and small businesses. Investors would lose their investments. employees would lose their jobs, vendors would lose a major customer. So, bailing them out does help citizens…just not the ones who made bad financial decisions and got themselves too deep in debt trying to live a lifestyle they couldn’t afford.
November 26th, 2008 at 3:53 pm
The banks are being bailed out because they gave crappy loans to crappy people that had bad debt or no debt. I’m sick of all the whining about getting help. Dont buy what you cant afford. That simple. I’ve always taken care of my credit, and live in a apartment. Now my tax dollars are being used to bail out people that didn’t deserve a home in the first place. Thanks alot Democrats, thanks alot Obama and your lobbyist money, thanks alot welfare leeches and crybabies that can’t take care of their own finances. McCain/Palin 08! Woot!
November 26th, 2008 at 4:16 pm
The average citizen will have to pay for all those bailouts through higher taxes. Which means that the little guy cannot bail out himself or herself.
When you pay yourself, then you end up with the same debt problem as before.
The government can borrow a lot of money from foreigners for now. But this will only make it more expensive for taxpayers down the road. Because they will have to pay for all the bailouts and all the accumulated interest on them too.