Tag Archives: $700 billion

The bailout package I’ve been saying was $800 billion is $700 billion. When the news first broke, there was some confusion about it. Now there’s a lot of confusion as we listen to the principals like the Secretary of Treasury and the other guy testifying before congress, as well as members of Congress. They are asking questions and voicing opinions.
 
Yesterday, one member of Congress labeled the bailout financial socialism. It’s the first time I’ve heard a member of Congress use the word socialism. But calling the bail out financial socialism is misleading and has an inference socialism only refers to taking one kind of property, i.e., money. The basic premise of socialism is an opposition and rejection of ownership of private property, period.  It means the centralized government owns and controls all private property, including money.
 
Last night, I flipped around on all the news channels, listening to the news media talk about the bail outs. No one knows whether or not it will pass through Congress or not. Most think it will. However, a large number of American citizens are up in arms about it, calling, texting and contacting the politicians in Washington. This is a routine staging of how centralized government works.