Bailout Questions You Might Have Missed
It appears billions of dollars have gone down a rat hole in the first bailout. According to testimony before Congress, the U-S has already lost around $78 billion. I drove back to Knoxville this afternoon from Tri-Cities, and it was disturbing to see all of the places that have been in the news recently because of job layoffs and dismissals. Around Knoxville, everybody knows somebody who is out of work…maybe two or three somebodies. And it appeared to me that the number of tractor-trailers on the interstate was significantly reduced. Our Sunday afternoon money-talk host made a good point today. He said there is a difference between a financial stimulus bill, and a Trojan horse that contains spending for some pet projects. Our economy is sick. There is no doubt in my mind that we are in real trouble. The unemployment, foreclosure, bankruptcy, and delinquent loan numbers all point that way. I’m just not sure if there is a doctor in The House, or The Senate either right now.
