The Bailout: What It Means for Consumers

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Im 55 and live in Michigan.Have worked in the auto industry for over thirty years,and has seen it decline for the past ten.The instutions that we are helping with this bail out dont give a hoot about the consumer.That became known when they had about a half a million dollar party when the bail out was passed.Where did this money come from?It seems to me that if there hurting so bad that money could be used for better puorpose.
IM AN AVERAGE AMERICAN THAT IS JUST TRYING TO SERVIVE AND CANT AFFORD MY TAXES NOW.
I DONT GIVE A RATS BUTT ABOUT THE STOCK MARKET,AND THE BLOOD SUCKING INSURENANCE COMPANIES.tHEY MADE THERE OWN DECISIONS,AND SHOULD HAVE TO FIX THERE OWN FAULTS,NOT US MIDDLE CLASS TAX-PAYERS.there bleeding us dry now.
I THINK THE 700 WOULD HAVE SERVED BETTER IF WAS USED TO BAILOUT AVERAGE PEOPLE IF WE DONT HAVE MONEY,WE CANT SPEND IT.the rich make more in a year than i make in a lifetime.
SCREW THEM

JIM of MI 8:21AM October 16, 2008

There has been a email being sent around that makes sense so naturally it wont ever be done. Put a clause in that mandates paying off your mortage, lots of problems solved!
>>> Adam Gooch 9/26/2008 12:08 PM >>>
I say this is a GREAT recovery plan!!!!!
> This idea sounds just crazy enough to possibly work, so
> naturally it won't be given serious consideration. How
> great is our bureaucracy!!
> I'm against the $85,000,000,000.00 (that's billion if you
can't count the zeroes)
bailout of AIG.
> Instead, I'm in favor of giving $85,000,000,000 to
> America in a We Deserve It Dividend.
> To make the math simple, let's assume there are
> 200,000,000 bonafide
U.S. Citizens 18+.
> Our population is about 301,000,000 +/- counting
every
> man, woman and child. So 200,000,000 might be a fair stab
at adults 18 and up.. >
> So divide 200 million adults 18+ into $85 billion
that
> equals $425,000.00.
> My plan is to give $425,000 to every person 18+ as a
We
> Deserve It Dividend.
> Of course, it would NOT be tax free.
> So let's assume a tax rate of 30%.
> Every individual 18+ has to pay $127,500.00 in
taxes.
> That sends $25,500,000,000 right back to Uncle Sam.
> But it means that every adult 18+ has $297,500.00 in
> their pocket.
> A husband and wife has $595,000.00.
> What would you do with $297,500.00 to $595,000.00 in
your > family?
> Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new
grads
> Put away money for college - it'll be there
> Save in a bank - create money to loan to
entrepreneurs.
> Buy a new car - create jobs
> Invest in the market - capital drives growth
> Pay for your parent's medical insurance - health
care
> improves
> Enable Deadbeat Dads to come clean - or else
> Remember this is for every adult U S Citizen 18+
> including the folks who lost their jobs at Lehman Brothers
> and every other company that is cutting back. And of
course, > for those serving in our Armed Forces.
> If we're going to re-distribute wealth let's
> really do it...instead of trickling out a puny $1000.00 (
> 'vote buy' ) economic incentive that is being
> proposed
> by one of our candidates for
President.
> If we're going to do an $85 billion bailout,
> let's bail out every adult U S Citizen 18+!
> As for AIG - liquidate it.
> Sell off its parts.
>Let American General go back to being American
General.
> Sell off the real estate.
> Let the private sector bargain hunters cut it up and
> clean it up.
> Here's my rationale. We deserve it and AIG
> doesn't.
> Sure it's a crazy idea that can 'never work.'
> But can you imagine the Coast-To-Coast Block Party!
> How do you spell Economic Boom?
> I trust my fellow adult Americans to know how to use
the
> $85 Billion
> We Deserve It Dividend more than I do the geniusesat
AIG > or in Washington DC
And remember, this plan only really costs
$59.5
> Billion because $25.5 Billion is returned

B Meers of MO 1:04AM October 16, 2008

since there is about 380,000,000 united states citizens,why not really help everyone? This is what i think. give everyone 1 million dollars.the first thing would be to take 30% off the top for taxes & social security that means everyone would pay. it's not only mortgages that has ruined everyone. its medical bills, credit cards,personal loans,car loans, student loans,all kinds of small loans that add such high interest rates that it is impossible to pay off. can you image the average american getting one million dollars? can you feel and see their confidence building knowing they can get the monkey off their back! being able to pay the car loans off the bank cards off the personal loans off,their mortgages off, medical bills off,being able to go buy a home,car etc. that would make consumer spending rise and a feeling of being able to pay to go to school so they can get ajob that would be available because the demand from so many americans having the good feeling again that they will be able to make their dreams come true by being out of debt. i personally would pay off my mortgage,my credit card bills, my medical bills,fix my cars & invest into the stock market to help in anyway we could to secure our economys
future. i know people in the same fix we are in and i know they would do the same. sure there will be those thst won't do what they should but there will always be those folks no matter what. but,i know that the way the american people have been affected by what has happened they would do what my husband and i would do.this way every american has a chance of getting the true financial help we all really need!! Our government has already spent billions on thev war! Aren't the American people worth less than 1/2 billion dollars to spend on? I know i'm right in what i'm saying and you do too, but that would be to easy right? just think how americans would feel if they knew things weren't going to be so bad for them anymore can you see the smiles on their faces? the wives,the children,everyone would be happy again,feel whole again,feel worthy again,and able to work and spend and be debt free. people would start businesses again sble to go to school and be come the taxpaying american ya'll want us to be again! there would be alot of welfare gone to! can you see the seniors that don't have anything being able to do for themselves having a feeling of self worth. i can see them being like kids and crying and the joy of not feeling strapped. the feeling of being able to do things together are with their famlies. Can you see how much the american people would finally feel you care forall of us?
Like i said not everyone would do right but i know most americans would because they want a feeling of relief from the pressure of being financially ruined.less than1/2 billion for all americans what a true change it would be! this 700 billion is not going to help everyone but what i'm talking about would!!!

Donna Watts of TN 10:32PM October 15, 2008

Seriously the money has to come from somewhere...it is pretty clear cut and dry that the money that we pay for gas is quick,easy,and painless for the one's who are implementing it!
In fact raising gas prices is just about a "guarantee" for any money that is needed quick!
The problem I have is this!
" The creative banks and financial institutions that thought up all of these creative loans and ways to give them to people who could not afford them should now be using that same creativity to get themselves out of this mess NOT THE NATIONAL FUNDING!!!!!!!
"Ok one more thing,.......if the congress HAS to go ahead with the bailout then how come they are not helping the "VICTIMS" to be quite frank here it makes me sick that the people that REALLY NEED AND DESERVE this help is the ones who are working their tails off and are losing the only thing they have and that is their homes!
what;s fair is fair and it is ONLY FAIR that the ones working and losing their homes should be helped too!
NOT THE BANKS AND FINANCIAL INSTITUTIONS! they made their beds now they should have to lie in them!
Sorry for those that disagree but why is it that the consumers ALWAYS come out the loser????hmmmmmm?

anonymous of 8:29PM October 15, 2008

When the gas prices went up so did everythng else mainly because people couldn't afford to haul products with gas prices.It caused the economy to sky rocket while the oil people got richer so nothing was done. Now the store prices are still up and the gas prices are going down a little but the store prices are not. Trucks can't bring in our food and the farmers that feed out country are going under because of the fuel prices. They don't get the prices raised on the food they sell so cost goes out not in. Same for the cattle people. The transporters shouldn't have to pay the high prices they are forced to pay and their fuel prices are not comming down. If this continues our farmers,and cattlemen will go under and our food that they raise we won't have then the fat big shots can have it sent from out of the country. The little farmers and cattlemen can't hang on this way and they are important believe it or not. They are the lowest paid. This is a shame and I wish city people would under stand it. People could pay their mortgages if the gas didn't take the money right out of their pockets. It cost so much to drive back and forth to work there wasn't much left. People lost their jobs because of the high prices only because people stopped buying high milage cars that closed a lot of car industries, therefore jobs were lost. How about Washington pay in on Social Security they make enough. If we don't pay in we don't get it. Our retirements are not the full amount of a pay check we can only draw so much. Retired people on a fixed income are really in a bad way because before the gas prices went up things were OK but when everything goes up and their retirement checks don't guess what? beyond our control we end up slowly going into debt deeper. At the time of the mortgages it was working. I think the people are not the blame for the bookkeeping in our government. I was told well we elect them. No we can only elect the ones that run whether they are fit to run or not we just vote for the ones we thing will do the best job. It is not our fault they can't handle the money. We need to keep all of the money made in the U.S. to stay here instead of putting it over seas to avoid taxes and this has been happening for years. THis year is the first year that I have heard more about it and that they need to stop. They need to go to jail for fraud just like any little person that is fraudulent. The government needs to follow the laws or go to jail we the people have too so why are they so special.

Elnora Marlin of MO 6:25PM October 15, 2008

Does it really matter where our tax money goes? If it means no comprimising on how I live, i dont care. Has anyone out there seen the federal balance sheet or a general journal lately. The feds are giving $100,000 grants to people to sit on their porch and count birds. Think about it, where would that money go if there was no need for an economic rescue? $1000 hammers? Who cares!!!!? if you want to fix this country stop voting for the incumbents. Rich politicians dont care about you, so why keep voting them back. It makes government stronger and politicians more corrupt.

mike of TN 6:14PM October 15, 2008

Dont give the ceo of wall street the money give it to the american family. This way we can pay for our morg and buy more thing that would creat a demade and supply which will create more job and the economic would be better.. rite?
think about it bush........

of 5:57PM October 15, 2008

value is at 200k less ...how about revaluing my home and giving payments to match it

of NV 5:35PM October 15, 2008

Nationalize them both. The government money was used to make
political contributions to those Senator's who made budget approval decisions...conflict of interest.
Now independent funds will attempt to be eligible for government assistance.

Marie Pfau of TX 5:28PM October 15, 2008

I don't buy anything unless I have cash. I save for what I want.Why am I saving AIG and the banks. When AIG bought out the insurance companies they sent me a bill with a 50% increase so I changed my carrier. Greed is the cause and you cant take it with you. When my daughter lost her baby, my ex-wife and I went to the funeral home and each paid 1/2 in cash.I am a student and have no money, but I save for rainey days. The jonses are nothing to me.What is it called when everything goes up but your income? It's a recession and when you have no job, it's a depression. Why are these people who rob from the poor and keep getting richer my problem? Let's return to the barter system because our money is no good unless you need kindling.Stop whinning and buy what you can afford and not what you can borrow. How much do we pay the elected officials and why does it cost 20 million dollars to loose the presidency? I thought anyone could be president but thats a lie. We have given away our rights and sold them to the rich. Don't expect them to return them we have to fight to get them back.Do as I have done; stock up oon amunition, water, food, fuel and NEEDED staples and be willing to die for them! Thanks uncle sam for the worst screwing anyone has ever seen and not even a kiss.Why are we paying over a dollar for a bottle of water and $3+ for a gallon of gas? Because we are spoiled dumb idiots who have nothing because we have givin it all away.So who is to blame? If they are the problem then there is no solution. If I am the problem, then I can change.

Kevin of OH 5:22PM October 15, 2008