Taxes will go up. Interest rates will go up. Inflation will go up. Prices of consumer goods will go up. Total US debt will go up. Budget deficit will go up. Dollar will go down.
Why should 300 million people be stuck with the bailout of a few people on Wall Street? I still do not understand how they came up with the $700,000,000,000.00 number other than Mr. Paulson telling us that it needs to be ‘sufficiently large’, we still have not heard a logical price or model for valuation of distressed assets from bruised Wall Street firms, we still do not have a proper regulatory system in place nor regulation to prevent such a thing from happening in the future, curbs on executive compensation are next to nothing currently and Mr. Paulson still remains King Henry.
The bailout done right is needed very much and will be useful for all of US. Ramming a half digested piece of you know what down the throats of the taxpayers is not.
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