September 17, 2008
-- by Dave Johnson
The government just took over insurance giant AIG, at a cost of $85 billion to the taxpayers. They just finished bailing out Bear Sterns and Fannie Mae and Freddy Mac. How many hundreds of billions of dollars have gone into other financial bailout efforts?
Since Reagan almost all of us are getting poorer, while a very few get vastly richer. Wages have largely stagnated since Reagan's election even as GDP and productivity have gone up. Pensions are a thing of the past. Health insurance is becoming a thing of the past as well.
As a result of the Reagan and now Bush tax cuts for the rich the government's debt is just about $10 TRILLION.
And corporations now rule us instead of democracy.
The conservative economic experiment failed a long time ago. When are we going to admit it and get things back on track? Will we wait until the United States declare bankruptcy? We're almost there now.
Posted by Dave Johnson at September 17, 2008 7:29 AM
Stop calling the bail out a Socialist act it is a Fascist act.
Fascism is Corporate socialism.
The Gov. isn't helping it citizens but rather the absentee owners of corporate dominance.
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