Sitting here watching the news and it looks like everyone is lining up for a bailout with taxpayer money.
We have school boards that misappropriate millions of dollars in school budgets, auto makers who cannot forecast properly the types of vehicles Americans would purchase, and now we have states who cannot balance their budgets and looking for tax payer money.
America is going bankrupt under the leadership of overpaid fat cats who don’t seem to have any wisdom or common sense. The bottom line for most financial issues that plague national, state, and local economies is to cut spending. Nearly every small business owner understands this. You can’t spend more money than you take in.
What are your thoughts? Are overpaid fat cats killing America? What do you think the future of America is with our inability to reduce national debt, state debt, and local debt?
Wondering what the national debt looks like these days: National Debt Clock
Fact: China holds more than $502 billion in U.S. treasuries. - How scary is that?
Where has sound leadership gone? What would our founding fathers think or say if they could see the state of our national economy?
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With much debate going on with regard to the big three auto makers it appears that the debate is moving pretty much along party lines.
While there are good arguments on both sides I’m in favor of allowing the big three to file chapter 11 bankruptcy. (What are your thoughts?)
One main argument is that the labor unions have made US auto makers un-competitive in the global economy. While I’m not a union hate monger, I think the role of labor unions needs to change along with the global economy. On a political note, I find it interesting that labor unions almost always vote Democrat.
Something the US media is not mentioning is that import auto makers seem to be doing just fine. Import auto makers from Japan and South Korea had the vision to start making more fuel efficient and reliable vehicles than their US counter parts.
If the federal government is going to get in the business of offering bailouts, what about small business owners? While many states claim to be small business friendly, most are not.
Ultimately, we need to decide if we are going to remain a capitalist country or continue our slippery slide of becoming soccialist country where the Government will have ownership in banks, and possibly auto makers.
What are your thoughts on another bailout? Are there any other companies or businesses the tax payer should bail out? What about individual families? Will they get a bail out?
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