lowfog01 wrote:we’ve seen the government take over a large part of the car manufacturing segment of our economy, we’ve seen the government take over financial institutions
Well, let's remember that the auto executives came to Washington begging for the money to see them through a tight spot. The tight spot was brought on by their own irresponsible behavior -- did you see Toyota and Honda and Nissan begging for help? Personally, I would be some p*ssed off if my tax payments went to these clowns without some stipulations as to how they were used. I see no evidence that the government took over nearly as much as should have been taken over.
Many financial institutions have repaid their bailout loans. They are doing so as fast as they can, so as to return to the unregulated and irresponsible practices to which they were accustomed. Just two days ago, I heard economists estimating the "true" cost of the bailouts, and I was astounded at how low the totals were. In spite of the trillions of dollars in play, the net cost to taxpayers, after repayments, was said to be a couple hundred billion. Balanced against the potential cost of the looming recession / depression, that's dirt cheap. Would the economy have recovered without government intervention? I don't know. But maybe, just maybe, our government did something approximately right this time. And don't blame it on Obama or give him all the credit either -- it was all put in motion by Bush and Company, and continued under Obama.