Anger, Sadness, Frustration

It is alright to give bailouts to banks and insurance companies that are partly responsible for the economic downturn and rotten economy but not to save a major industry in this country.  Just proves how out of touch and elitist the Senate is.

So .. more small industries and businesses will close. The small plants that make parts for the auto industry are suffering already and will face bankruptcy.  The mom and pop stores and restaurants surrounding the plants will lose their business.
Some school systems in this state are bankrupt or near bankruptcy, forcing school closures and massive teacher layoffs at the end of the first semester.  If people aren't working, they aren't paying taxes and without taxes, schools can't be supported.

But the bankers and insurance companies will go on their spa trips and gather their bonuses.

And the "little" guys will pay for it.

Next Posts

Previous Posts

Comments

prairieplains
So true. Sad, but true. They make the CEO's come begging after carpooling to Congressional hearings, and make them prostrate themselves for what seems like a meager $25 billion (in comparison to 700 billion!). I'm not saying the executives shouldn't come with humility and a plan, but it's a joke compared to the "urgency" that forced us to just hand over 700 billion in tax dollars with NO plan, NO question on executive compensation, and NO promises that we wouldn't land ourselves in exactly the same situation a few years from now. What a joke.
Mom On The Run
True enough, but the only way out of a recession is to increase spending. By bailing out the big guys it saves alot of jobs and then those guys hopefully will spend money at the mom and pop shops as the big bailout theoretically should trickle down. That said, the rich will always keep on getting richer and the poor will get poorer
Random Musings
Although the bailout was announced today, people in this community will still be afraid to spend money. So many plants have closed, so many people are out of work or have left the area. The school district has announced 1/2 of the schools will close this year. No jobs= no taxes being paid= no money to run schools. There was to be a new plant built here in the spring and that has been cancelled. It is going to take more than a GM bailout for the economy in this area to improve.
Mom On The Run
I hear ya! My dad is out of work because they shut down the plant he worked in. They're moving all production to the US. Now he's 61, 4 yrs away from retirement and has no idea who will hire him. Thankfully my mom has a secure job with one of the top banks here in Canada
Random Musings
Moving the work here? Most of the work has moved to Mexico and China. GM leadership has made many mistakes. I Hope the bailout means some of them will be corrected. We had 12 plalnts in this county and now there are four.

About Me

Random Musings
United States
View my profile
Always learning, dreaming, thinking....

My Links

Neighborhood

Explore friends, family, friends & family, or entire neighborhood.

View my neighbors

Tags

View my tags

Archives

Fearless Knitter