i don't think anyone really knows what the bailout means for our future - least of all me. but from what i've read the bailout means a few things:
1. the 700 billion we put in now we should be back (either mostly or perhaps even with a profit) if the market rebounds.
2. the bad investments that the government would be buying are housing loans. by having the government buy them we can prevent the huge amount of foreclosures that would happen if we let the market take care of itself. and since the housing crash is the reason the market is tanking there is at least decent chance a bailout could really help our economy - no guarantee though.
3. with the president backing the bailout - democrats don't need republicans the agree on shit because they can pass any bill they want. the reason they don't and the reason the republicans won't agree is that NO ONE wants to accept the risk this bill carries. what if we spent 700 billion and nothing good happens?? the public won't be pleased and the republicans will have fodder to attack the democrats for years.
in the end i guess i think the same thing several of the pundits on pbs say: this is a really shitty deal - but the alternative is going to be a lot worse. the free market fucked us over and there is no way to get out of this without making serious sacrifices. thanks dad.
