Billions and Billions

Where is Carl Sagan when you need him?  Well, if it weren’t for the fact that he died almost twelve years ago, and wasn’t known so much for political commentary, he might have been the perfect person to announce that the U.S. government’s bailout of our crumbling financial system was going to cost “hundreds of billions of taxpayer dollars.”  Hundreds of billions.

Swell.  On top of the $1.1-1.7 trillion we have already spent or likely will spend on Iraq, Afghanistan, and the so-called Global War on Terror (known by the mellifluous acronym GWOT).  I’m not in a position to dispute that the bailout of corporate titans of greed (egged on in good fashion by most of us, but also enabled by an administration that proclaims the free market gospel), a.) because I’m not knowledgeable enough to know for sure but, perhaps more to the point, b.) that these financing institutions are so tightly interwoven into the fabric of our economy that we can’t not bail them out.


One thought on “Billions and Billions

  1. …we can’t not bail them out.

    Damned if you do, damned if you don’t. The banks have our entire country by the short curlies. By bailing them out, the government guarantees that the middle class will be completely wiped out, but if they didn’t bail them out the entire country would be wiped out. At least this way, the millionaires are protected, and that’s all that really matters, right?

    There’s more than a few people who knows what they’re talking about who have said that all the bailout will do is delay the inevitable anyway.

    Capitalism destroys everything, and now it’s destroying itself.

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