If you've read my posts in the past, you know that I'm very opposed to any bailouts. If your company took too much risk, than it must suffer the consequences. I believe that the statement "it is too big to fail" is ludicrous. No company is too big to fail. No country is too big to fail. If you owe $100, but have $50, than you're broke. If you have $30,000,000, but owe $60,000,000, then you are broke. No difference. I've made the dying patient analogy already. Contraction is inevitable, but don't drag it out. Let it occur naturally. The massive bailout will now mimic the great Japanese contraction (1990 to present).
I do find it very perplexing that Team Red is now protesting spending. Where were they during the entire Iraq affair? Is spending billions on the imperialistic invasion of a country okay? Why didn't they have tea parties than? If they are opposed to government intervention and liberty, than where were these patriots during the approval of the Patriot Act? Someone please answer these questions for me.
I wrote a big check to the IRS yesterday....very painful. I'm sure many others did to. I consider it my American obligation. It's not patriotic, it's a requirement (some do debate this). I've also stated prior that Buffet's perspective on taxes is a fair one. If you want to feel real tax pain, move to Norway. Why is Team Red protesting taxes now? Why didn't they protest taxes during the Bush administration? The reality is that if McCain won, he would be raising taxes too. How else are we going to pay for all of our obligations that EXISTED PRIOR TO OBAMA?
I constantly recommend to my favorite Republican that we should all "fly our helicopters" above all of this political chatter and focus on the facts, the data. Despite this recent massive spending spree, we already had major debt obligations. Our children and grandchildren were ALREADY burdened with this, so if tax burden is your issue, I would have expected you to be throwing tea parties a long time ago. Our massive debt is NOT a new issue or fact. Increased taxes is a reality no matter what team you cheer for. Team Red must recall that The Gipper was one of the biggest spenders of all time.