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Bailout: corporate welfare at its finest
by Jeff Blanck
Sep 29, 2008 | 408 views | 0 0 comments | 8 8 recommendations | email to a friend | print
We the taxpayers just bailed out some of the biggest financial institutions in the country. This is corporate welfare at its finest. We shouldn’t hear anyone complaining about sending a $200 welfare check to a non-working mother of four. How does that even come close to $700 billion?

Where are all the free market supporters and anti-big government people now? Why aren’t they clamoring for us to just let the companies fail and go from there? I guess government is bad if it stops you from raping the market but it’s good to come in afterward and clean up the mess. Bush and Cheney, this is your legacy.

We are still spending $10 billion a month in Iraq and now we have added a debt of $700 billion. I heard McCain say in the debate that we need to control government spending. We need to make cuts. But he was all for the Iraq war even though we didn’t have any money for it.

Instead of borrowing almost a trillion dollars from China to fund the war, why didn’t Bush approach the American people and tell them that we need to raise massive revenues so we will all be taxed 20 percent more to fund the Iraqi invasion and occupation? How strong would the support have been from the public? How much would we have been willing to spend on Bush’s folly?

Well, Bush didn’t ask. He just put us all in debt. Anyone who supported, and still supports, the Iraq occupation has no right to complain about any new spending program or tax increase. They have used up all their credit and credibility.

Everyone credits Reagan with ending the Cold War and forcing the collapse of the Soviet Union. Now we can credit Bush with handing financial control of the United States over to communist China. Kind of ironic, don’t you think? The Soviet Union collapsed in large part because it was financially unsound. The Soviets were spending much more than they had to counter the United States and its allies. Now China has done the same thing to us.

China can do basically anything it wants anywhere in the world and we won’t be able to do a thing. We gave our power away so George W. and his oil buddies could make a fortune in the Middle East.



So now it is insult to injury. Not only do we owe China a trillion dollars, we need almost another trillion dollars to save our own economy. I thought Bush was supposed to look out for us? He was going to make us more secure and safe. In fact he has done the exact opposite. A legal definition of treason is “betraying the state into the hands of a foreign power.” While we were all focused on Iraq, George W. gave us away to China.

Before 9/11 we had financial stability. Now we have massive debt. Bin Laden is still free and after a devastating attack he has now brought us to financial ruin all on Bush’s watch. The Republicans have had their way for the past eight years. John McCain, Dean Heller, John Ensign and others have all supported the policies that have gotten us into this predicament. We need to hold them all responsible for their extreme fiscal mismanagement of our country.

Jeff Blanck is an attorney in private practice in Reno. He can be reached at jblanck@jeffreyblancklaw.com.
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