Anyone else scared about all these bailouts?

[HeatherC]

Just heard about the Citibank bailout that just happened. They were saying on the news that SO FAR...U.S. taxpayers are on the hook for a total of 7.6 TRILLION dollars for all these bailouts that have happened so far.

I'm just wondering....how in the world are we supposed to pay for this? The country is already hugely in debt with our deficit growing each day. There IS no money for this. The government does not have this money that they keep promising. So at what point does the govt. go totally bankrupt? What will happen then?

Not debating that something needs to be done, but very worried that this is like someone who is already in major credit card debt taking out more cash advances to give their friends money. Doesn't the well eventually run dry...if it hasn't already?

Obviously, I don't want to see people lose jobs or companies go under. But I'm not understanding how this is going to fix one thing. I feel like it is just buying time before it all comes crashing down. And that is coming from an optimist! Anyone else worried?

 

[Pixiedust34]

I've very worried. When will it stop?!

 

[golfgal]

I would be MORE worried without them-all those people that are keeping their jobs because of the bail out will help ease the burden vs all those people losing their jobs and needing help to get buy--think 1939...

 

[HeatherC]

Golfgal...but that's what I'm worried about. I'm glad these people are keeping their jobs...truly. I'm just worried that this will only put a bandaid on the problem and they will still be out of work in a few months and then the country will have NO money left to do anything to help and we will be in greater debt...to the tune of trillions of dollars. Then there will be less help for these people.

Scary stuff.

 

[ford family]

Are you sure you heard that correctly?
I am not aware that the bailouts come to even 10% of that number so far.

ford family

 

[HeatherC]

fordfamily - I know, that figure shocked me. I thought it was 700 billion...not 7.6 trillion. I heard it on CBS and then again on CNBC. I have to think they have the numbers right if two places said it?

 

[ford family]

fordfamily - I know, that figure shocked me. I thought it was 700 billion...not 7.6 trillion. I heard it on CBS and then again on CNBC. I have to think they have the numbers right if two places said it?

Perhaps they were talking about the total publicly held US federal debt after the bailouts because the current figure according to Wikpedia is only about 6.3 trillion dollars.

ford family

 

[golfgal]

I am pretty sure the "trillion" includes existing debt, not just bail out money.

 

[The Mystery Machine]

The war is close to 3 billion A DAY. That scares me more.

 

[HeatherC]

I know...the whole thing is scary.

 

[bicker]

Yeah, the bail-outs, themselves, aren't what's scary. The reality of the situation we're in is what should be scary. If anything, the bail-outs provides some solace that officials are doing something that they, at least, believe will relieve the real scariness.

 

[CarlaKay]

The current economic conditions scare me. We need these bailouts and I am glad that we will soon have a President who actually understand the issues. January 20 can not come soon enough for me or Wall Street

 

[Charade]

The war is close to 3 billion A DAY. That scares me more.

Not even close. It's about 1/10th that.

 

[mom2cinderella]

Here's where the $7Trillion number is coming from: U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.

Michele

 

[The Mystery Machine]

Not even close. It's about 1/10th that.

Ok, our national debt per day right now is 3.92 billion.

Better?

 

[kellyg403]

I have been scared for quite some time. I just wonder what comes after the bailout. Lots of things seem like the right thing to do, but what happens when its all said and done I worry about paying all this money back and how in the world are we going to do it.

I agree the bailout is necessary. A lot of people are keeping their jobs and we as a country can not afford any more unemployment. That is a whole nother ball of wax. I work next door to the unemployment office. One day last week the line was out the door and into the parking lot. I would wager to guess there were 50 people standing outside waiting to get in the office. I could not believe it. It was a picture worth a thousand words.

Kelly

 

[RadioNate]

Forget the bail out, the bail out is chump change. We can't afford any of it. Social Security, Medicare, the war in Iraq. It is all deficit spending and foreign held debt.

But heaven forbid we actually pay one cent more in taxes to pay for the things we've already 'bought.'

Scary? The whole thing is terrifying. And I think the bail outs were necessary.

 

[LuvOrlando]

I'm worried that uneducated lunatics are at the wheel.

Congress is just flapping around like a chicken without a head. I can't believe we the people elected these people. They are imbeciles.

I blame congress lack of leadership 100% and can't wait to get those people out of there. This is their show & ideas & policies, and its a mess.

 

[happygirl]

I'm very scared!!! Even if we didn't bail these people out they won't lose there jobs. They would take out bankruptcy and regroup. I'm scared how is the American people going to pay for all of this. How much are they going to have to raise taxes to pay it back

 

[FINFAN]

I am nauseated with fear for my childrens futures. They are going to be the ones who suffer the most, and pay for the "band-aid" fixes of today.