Saturday, October 04, 2008

Paul on Bailout

5 comments:

Aaron Perry said...

Hey Matthew,

As you would probably guess, I supported the bailout/buyout bill, but I mainly agree with Paul's attitude. I don't see it as a fix-all, but as a chance taken that some breathing room will allow for a fuller recovery. Paul is, of course, absolutely right that personal finances can reflect national finances and that over spending leads to disaster. Thanks for posting this.

Who can help but love Paul's attitude, as well?

regan said...

AGREE!

Except for the part about young people straightening out the mess. Most young people I know care very little about the state of the Union.

Our country is on the bring of a major change in economics. Most likely it will bring in a socialist government (think Obama). However, with this socialist government, we will see a reduction in our personal wealth, just like in other socialist nations. The ordinary people have very little (although they are guaranteed that very little). The big dogs get the cream off the top. My only hope is that with the economic downturn, people will begin to look to God for help instead of money.

TMNK said...

Yeah, Paul is pretty confident that the bailout/buyout will have positive, albeit short-term, benefits. He voted 'no' twice more in principle, urging congress to get to the root of the problem. He's a big backer of Austrian economics, which is very different from what we're currently doing. I am interested in learning more about the Austrian school.

Paul is a very optimistic guy. I am not sure I share his optimism. I hope it is well placed. But part of his optimism is based on what will be dictated by economic collapse. Things will get worse in the future and this will mandate, he hopes, that we reduce our degree of interventionism at home and abroad.

Jo said...

Have you seen Dave Ramsey's alternative to the bailout plan? It's here:

http://www.daveramsey.com/media/pdf/the_common_sense_fix.pdf

I don't understand it all, but I'm trying to figure out the basics.

Kirk said...

The bail out plan was a terrible idea. Let's put everyone in the country in more debt in order to save people who got greedy and jumped on what turned out to be bad investments. The "common sense plan" would have done a better job and would have only cost 45 Billion total.