I found this article very interesting in that, it explains about how much each person living in the US is debt to, due to the governments generous spending. The Article states that every new born in the US automatically is in debt to about $22,000 dollars. And that number may grow to more than $51,000 by 2019. I find it to be crazy that though we are already in debt, we are will handing out money to company's(AIG) that in turn give out tax payer money as bonuses. Or how big corporations are receiving all the help while the average small business suffers. Rather than spending more money we should be using money to pay down the already large debt the country has. If this spending continues, before we know if this country will be run by foreign investors.
What do you think about every new born automatically being in debt?
Are all these bailouts, and other money spending, good in the long run?
3/25/09
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Sorry, forgot to put the link.
ReplyDeletehttp://www.foxnews.com/politics/first100days/2009/03/25/does-national-debt-mean-g/
I would not want to be a newborn right about now. Really. The thought of a baby being born already having $22,000 of debt is preposterous. How is that even possible? To answer the second question, of course the bailouts are a terrible idea. Well maybe it makes sense to people who supposedly know about these things, but it makes no sense to me. How does pumping money into a failing system solve anything? What happens when the little jump-start that the bailouts provide loses its gusto? The biggest problem that I have with the bailouts (other than the fact that my tax dollars are being used for this nonsense) is that companies who receive bailout funds are not asked to provide a running tab of what the money is being used for. Maybe this simple request would keep companies from handing out cash like lollipops at a Pediatrician's office. Also, what happens if a company accepts bailout funds and then still files bankruptcy? If someone knows I would really like to be enlightened. Is there a stipulation preventing this?
ReplyDeleteI hate that babies are born into debt. That should be the one time in a lifetime that a human is completely innocent. There should be no pre-existing conditions or debts assigned. Also, bailouts, in my opinion, will help nothing. These companies should learn to bail themselves out besides just asking the government for money in time of need. If any normal person got themselves into debt, they would have to bail themselves out. This is how it should be with these large corporations. They got in trouble, and they should find their way out. The debt is the responsibility of the large corporations, and it should not be placed on the shoulders of new born children.
ReplyDeleteThis article really makes me happy that I was born when I was. The thought of a new born baby already being more than 20,000 in the whole is just a terrible thought. Bailouts are a horrible idea to fix this failing problem. I don't understand how our govenment thinks that throwing money at a problem will fix anything. Yea, it may sound good for the short term of our country, but in a major economic crisis that we are in now we have to think about the long term solutions for our country, and throwing money around should not be one of the solutions.
ReplyDeleteI think this is horrible, but it is very true. Kids are now being brought up in homes that cannot afford the basic necessities that is required to live a life. College funding is definitely one! The government is bailing out all these companies, but is not bailing out the normal family that pay their bills on time and have jobs. We need to start looking at funding for citizens to advance themselves, not for companies that gave their CEOs and CFOs more raises.
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