Originally posted by Kraxe

If a bailout is not forthcoming, then that $7000 that so many people being polled in the streets think they could do a lot with wont go far. Within a year, maybe a lot less, you would see massive unemployment as loads and loads of companies go out of business. That $7000 which you were going to pay in taxes anyway regardless would have kept you in employment, in a home and away from the soup kitchens. Yep, it could get that bad.
After sleeping on it last night and knowing our media and their tendency towards "shock and awe" tactics, I woke up feeling a little more objective and wondering how inflated this crisis is being reported vs. the REAL problem. My objection to the above quote is rather simple-minded, but is this $7000 really money we would have spent on taxes anyway? If inflation for the added debt causes the dollar to drop then taxpayers get hit a second time with rising costs and something/a lot of things getting cut from the budget that tax payers may feel strongly about on either side of the political spectrum, especially since the Pentagon just received a record budget for the 2009 fiscal year. yes, the institutions get "punished" too, but the current bailout, like kraxe said, did nothing to stimulate the economy only stave off the disaster. I'm conflicted because im glad the bailout didnt pass as it stood, but something needs to pass. I'm guessing the real question now is, how much are american tax-players willing to lose to keep the system we have in place. Too bad we we really dont have any say in that matter.