The average household in America had to shell out around $2000 to make sure that AIG’s counter-parties wouldn’t have to accept the risks they took.
A clear examination of the true costs of the bailouts.
“Obama plans to slash deficit in half” is the title of this AP story. The attribution of fiscal responsibility to our current president is rather misleading. Here’s a graph from a Wall Street Journal article of the annual federal budget deficits over the last 30 years. Graph Source: http://online.wsj.com/article/SB123457407865686565.html Bush’s worst deficit was less than $500 […]
We’re taxing successful, competently run businesses to subsidize irresponsible, poorly run businesses. Until we realize this simple fact, the previous trend of increased productivity and standards of living will only be a memory.
Those who say “These are extraordinary times. We can’t afford to worry about the national debt now. We’ll be in a better position to deal with that later.” should check out these projections.