Friday, September 26, 2008

Uninformed Thoughts on the Current Situation

1. I really don't understand this.

2.  I'm not even sure I have a gut feeling.

3. But I have a little bit of a gut feeling that we are proposing to spend 700 billion dollars to save big corporations, and that doesn't sit right.

4. I also feel that $700 billion for bailing out the economy will mean, if not now, then soon, big budget cuts for all the things I care about like roads and schools and health care.

5. Uh, where's the $700 billion going to come from?  More debt?  That can't be good.

6. On the other hand, my instinct is to trust Chris Dodd and, especially, Barney Frank.

7. But Robert Reich says they were caving.

8. And, if the conservative Republicans are against it, that might be a reason to be for it.

9. I'm quite sure that McCain is being a jackass.

10. I definitely think they should debate.

11. I truly fear that however this plays out, it will leave me without a job, given what I do and how I'm paid.

12. OK, must stop thinking about it again, because my head hurts and my stomach feels all nervous.


Dawn said...

We went and saw Kit Kittredge at the dollar movies a couple of weeks ago and it rang way too close to home.

Libby said...

I'm very head in the sand about it all, which is itself a reflection of my privileged position, I'm aware. I am just not looking at my retirement statements for a while. (I lie--I looked, and I cannot look again for some time.) But I agree that unless the bailout protects homeowners, and limits CEO compensation, and isn't just a blank check for the people who got us in this mess, then it makes me very nervous. I don't know why conservative Republicans don't like it, but I suspect it's because it's already got too much regulation in it. Sigh.

McCain looks scared. And he should.

jackie said...

I'd be more worried if I had a retirement plan!

Ghoulish humor aside, I think what we're seeing is a fundamental breakdown in capitalism as a system, and the fact that we're begging government to step in shows me that maybe socialism has some benefits we (the US as a whole) just stubbornly refuse to acknowledge, if that makes sense.

Also, I think I can be "head in the sand" too, like Libby, because my job and my husband's job are both safe, and his retirement plan should be safe too, though again, our retirement savings are laughable. But the idea of our car breaking down, and not being able to get a loan to buy a new one because of bank panics? That's frightening. And the idea of digging ourselves further into debt as a country is a frightening one too.