A rising chorus of complaints can now be heard because government bailout money given to banks is being used to pay large bonuses to executives. The griping doesn’t focus on the fact that these executives were the leaders who allowed their institutions to sink into deep fiscal problems. That would be reason enough why they shouldn’t receive bonuses.

In defense of this indefensible practice, federal officials are now pointing out that the money shoveled out by the government was supposed to enable them to do more lending which, in turn, would cure the recession. Both Bush Treasury Secretary Paulson and Obama Treasury Secretary Geithner solemnly pledged this as their goal. Did these top government officials lie? Well, let’s just conclude that what happened didn’t match their promises. And, yes, some of the bailout money is going to bankers whose fat was pulled out of the fire by the bailouts.

The banks had to be saved, said U.S. officials as they proceeded to convince enough members of Congress that there was no recourse. But doesn’t a cardinal principle of freedom hold that failing entities should be allowed to fail? Nothing is too big to be awarded access to taxpayer’s dollars to keep it afloat. Bailing out failures will surely guarantee that there will be more failures and more bailouts.

Also, the bailout bucks certainly do add to the nation’s enormous indebtedness, expected to climb by $1.8 trillion before the current fiscal year ends. That’s quadruple the worst yearly deficit in U.S. history. It will be covered by already overburdened printing presses, the clever but totally immoral practice that steals money from all Americans through inflation.

The prevailing economic policy of the U.S. government ought to be called Fiscal Insanity. Its most obvious feature is that the heavily in debt government gives away money. That some of these giveaways end up in bonuses for incapable bank managers is one thing, and a not surprising thing at that. But the list of unconscionable uses of federal funds is too large to provide in this short report. Let’s point as one example of insanity the Obama administration’s plan to ship more than $50 billion hither and yon in foreign aid programs.

I recently asked a fourth grader, “If you’re heavily in debt, should you give away money?” The answer, given with the youngster’s clearly provided indication that my question was quite stupid, was “No, of course not!” I conclude that our nation might be better off if a team of savvy fourth graders ran the government.
 

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Peter Steele said:

General Motors - a favorite car company After LBJ fired my late father, Dad was forced to buy VW Beetles as I called them Hitlerwagons and the Corvair was trashed. I told Dad that he got the wrong car after buying GM cars when he had a good job. We bought Hondas which was the wrong car for us to have as Dad should have gotten a Buick. Jimmy Carter killed my wonderful father as the Democrats are the bane of my family's existence. With thanks to FDR, GM could not get rid of the UAW which brought the company to its knees and the workers are finding out that Labor Unions cost them their jobs. FDR was the least principled President we had and a treacherous one as well. We loved Goldwater and told him about ourselves and what we did. BGen Peter F. Steele, USMC [Ret] for RADM Peter Steele, USN who is in heaven with my late mother.

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Peter Steele said:

General Motors - a favorite car company After LBJ fired my late father, Dad was forced to buy VW Beetles as I called them Hitlerwagons and the Corvair was trashed. I told Dad that he got the wrong car after buying GM cars when he had a good job. We bought Hondas which was the wrong car for us to have as Dad should have gotten a Buick. Jimmy Carter killed my wonderful father as the Democrats are the bane of my family's existence. With thanks to FDR, GM could not get rid of the UAW which brought the company to its knees and the workers are finding out that Labor Unions cost them their jobs. FDR was the least principled President we had and a treacherous one as well. We loved Goldwater and told him about ourselves and what we did. BGen Peter F. Steele, USMC [Ret] for RADM Peter Steele, USN who is in heaven with my late mother.

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MarkGlen said:

	A wise black man The Manning Report: Be sure and hear him out: http://la-gun.com/email/manning/
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still free said:

	Fiscal Suicide Fiscal insanity and total lunacy that even a 4th grader recognizes. What's worse than this? There doesn't seem to be any end in sight as Obama, et al continues the march to bankrupt our nation. Wake up America...the clock is ticking.
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