Bailouts

Yes, I know it's been a while since I've posted and yes, I know that I said this would be a daily thing, but no one really holds true to those sorts of promises. Today, I really want to talk about the recently passed bailout.

I did a Congress resolution about this in debate. It was a fantastic resolution, and now since I've redone it, it looks and sounds fabulous. I'll have to post it. What the topic was was this: stop the flow of monies from the recently passed bailout and previously passed bailouts and stimulus packages. Here's my reasoning:

First off, bailout's just don't work. Sure, it worked for El Dorado Savings and Loan back in the early 90's (I know I got that name wrong. If you know it, please tell me.), but that was pennies in the ocean compared to today's bailouts. FDR's New Plan tried to get us out of the Depression, but it didn't. It only made it less depressing. Ultimatly, it was World War II that got us out of it, not trying to spend our way out of it.

At last count, our debt was $10,846,011,505,841.92 and our deficiet is 1.4 trillion. Large amounts of money. Soon to become larger when we have to pay back what money we borrowed to help pay for the $787 billion bailout. Someone said at the Region tournament (where I first submitted my resolution. It got picked for debate) that the debt does not have any effect on the economy. The man was false. While the debt itself may not have an effect on the economy, it has a psycological effect on the citizens. Knowing that we are trillions of dollars in debt unnerves people. When I first found out, I was shocked. I didn't feel like going out and spending. I felt like I should save and make sure my financial future is secure.

So, in quick conclusion: Bailouts are a bad thing.