We don’t want anyone to “fail.” We much prefer for everyone to “succeed,” with benefits for all. So since we are in economic troubles these days, there has been enthusiasm on the part of many as the federal government has financed various “bailouts.”
But adding greatly to our national debt to bail us out only increases our economic problems. The bailout idea surely is based upon “good intentions.” But any bailout money that is being borrowed now will eventually add to the tax and other economic burdens of all Americans.
We already have a $13.2 trillion-plus national debt!
We are adding annual federal budget deficits of about $1.5 trillion!
Will spending more borrowed money bail us out or mean more trouble?
Somebody must pay someday. Do we want higher taxes to finance bigger debt and the big interest payments?
We want “full employment” for all Americans. But as we sink deeper into red ink with all sorts of “good intentions,” who is going to “bail out” our taxpayers when the big bills come due?
“Somebody” (all of us) must someday pay back, with interest. When? And how much?