It has been just over a year and a half when Congress orchestrated the TARP build to rescue the banks and save the American economy from fiscal collapse. It was then that the word bailout became part of the American political fabric. Since that time, the banks that had been lent the money I paid it back with interest. This was supposed to be the investment that taxpayers have hoped for that paid off and resulted in a profit. Even if it was a small profit. But since that time, the TARP money has become a political slush fund for the president and his administration.
Populist attitudes was supposed to put an end to the bailouts. The government bails out the banks, and then they become the enemy. Even though they paid us back, we have to impose a tax on them. Of course I won't be passed on to consumers. We bailout the auto industry and the president makes jokes about it. He doesn't want to be in the auto industry. Then why is he? Now we are bailing out countries like Greece. President Obama has committed billions of dollars paid for by the US taxpayer to bailout crease with all the consent of Congress. Yet this bailout is receiving little attention from the mainstream media.
There is also a bill going through Congress that is supposed to bring financial reform. This bill was also supposed to put an end to bailouts. Does it? Of course not. If large companies begin to fail, they get bailed out and then the Congress stops and to break them up. What becomes of the stockholder? Well, I guess they lose their money. But it doesn't matter, because all stockholders in companies are rich people who can afford to lose a few million dollars. After all, they should have been paying those sums of money in taxes. They could have been subsidizing the poor.
The amount of people in this country that are now dependent on the government for handouts is a disgrace. Yet it has been climbing in the plan for the administration is for it to climb further. Unless there is a change in the Congress and in the presidency, the country will continue on the fast track to financial ruin.
The progressives calling themselves Democrats believe that they can do no harm as long as they can keep spending money. Where does it all come from? Who knows? Who cares? As long as it keeps coming. We wasted over $800 billion in a stimulus bill that has not created jobs. If we were on the road to recovery, employment should at least hold steady and gradually decline. Even though it is way above the level that the president promised it would not go higher. Yet unemployment continues to increase.
This past week we have seen long term congressman lose their party's nomination for reelection in the fall. Anti-incumbency attitudes have been high in past elections. But in 2010 they seem to be higher. "Throw the bums out!" people say. This year they are doing it. I hope we can do it here in Wisconsin to do our part for the United States Senate.