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$700 billion dollar bail out

Ok see if this makes any sence what so ever to you. Just had this thought a few days ago. Wall St. is getting handed $700 billion dollars because the united states citizens were spending money they didn’t have which caused the banks to also go into debt. $700 billion dollars would pay for I’m guessing almost every us college students intuition, where probably most of the debt comes from. Do you think we’re puttin the money in the wrong place? Why shouldn’t the problem be solved where it came from? Shouldn’t the money be put toward taxes we shouldn’t be paying or oil companies who are charging us up the wall, which affects food prices and everyday needs? Let me know your thoughts

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Answer #1

“the middle and lower classes of the US (money wise) don’t benefit at all from this”

Unfortunately, LOTS of middle class folks have retirement money in the stock market…anybody with a 401k, an IRA…or whatever… unless someone had the foresight to put it into a money market, instead, is all in the stock market.

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Answer #2

Exactly. My family is considered middle class and I’ve seen our savings go down 15,000 and the only big expenditure was a trip for 2 to cancun for 4 days. It’s horrible. Not too mention our property tax went up by 50%!

Answer #3

I think we wouldnt have to do this if Bush had never had been president. Where do you think all this money is going to come from. Out of his *ss? no its going to come from everyones taxes and then some how he’ll end up screwing everything up and all that money would be put to waste

Answer #4

yes were def. putting the money in the wrong place. the middle and lower classes of the US (money wise) don’t benefit at all from this. it just makes the rich get richer. think about this one: if we used that $700 billion to pay off peoples mortgages, I imagine it comes very close to paying off the WHOLE country’s MORTGAGE. that would’ve been so much better for the economy, and all the people would own their houses, the banks would get ALL the money back that they lent out for mortgagees, etc. It’s amazing to think what our country would b like if we’d used that money for mortgages instead of helping the rich. <333

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