The Bailouts Saved Us All

All across America it's the cool thing to do to complain about the bank and auto bailouts. This is one of those times that I'm happy that politicians are more educated than the average American.

You ask the average American on the street why did we bailout the banks and they'd have no clue. Most issues like opponents of ideas can at least acknowledge that what the other side believes isn't totally crazy. For example Democrats can at least say that they don't want higher taxes and most republicans want affordable health care. Even though the two parties believe that either low taxes or affordable health care is more important than the other, they are able to understand both points of view.

I bet you that most Americans have no physical idea why we bailed out the banks. It takes a certain knowledge of finance to understand it. I believe if more Americans understood that all of the credit in our entire country is based out of large banks, then they would understand why we need to save them. The whole economy is based on credit. Without credit, there would be no more home loans or business loans. Anyone who understands anything about business knows that without business loans- we fall into a far worse depression than the Great Depression. Fortunately enough for America, the republicans and democrats were able to work bipartisan to bailout the banks. 700 Billion dollars is well worth the price of avoiding a depression (just ask your grandparents.)

I think at the end of the day most people couldn't stand the irony of saving the people who destroyed us. I understand that powerful sentiment. Unfortunately the people who ruined the economy are also the people we need to save it. Anyone out there who thinks that a modern country can survive without banks is just plain stupid and doesn't understand the most basic economics.

The auto bailouts weren't as necessary for our survival, but they were important to do. If they didn't occur then over one million more people across the country would become unemployed during a recession. A 30 Billion dollar auto bailout is simple way to keep over a million auto employees and there families from living on the streets.