Where is the $700 billion for this bailout to come from? It will probably be borrowed from the Chinese, thus mortgaging this country's future for many years. Who will pay for this bailout? It will, in all reality, be you and me, as the only way the federal government has of making money is by taking it from you and me. I have calculated that it will take everything I now pay in taxes, for the next six years, to pay my family's share of this bailout, including interest. In reality it will take many more years as we are spending every dime that we now take in for all those little things that we deem necessary, like medical expenses for criminals, infrastructure that falls apart and so on.
Who will benefit from this bailout? Hopefully someone you or I know, but in all likelihood, it will make the rich richer, and we the people will just end up with the leaky boat.
JIM E. SMALLWOOD