What is the $700 Billion BAIL OUT? A Promise of $700 Billion in New Taxes.
It is a Guarantee of $700 Billion Dollars in New Taxes (less some unsecured repayments that might come back from the bail out) to be levied against all Americans in the future.
Thanks George! Thanks Republican Party!
Under 8 years of Republican Administration's oversight, our financial markets have gone completely out of control; and now they need $700 billion (at least) to bail out of the mess, they claim. And who is paying for it....you and me and our grandchildren....our futures are being TAXED by the Republican Party.
8 years of Republicans claiming they are the Party of " No New Taxes"....well....B-llsh-t! The Republicans have encumbered our Nation with annual deficits every year since President Clinton left..piling up over 5 Trillion dollars in additional National Debt (now over 9 trillion and growing).
Clinton's Administration provided tax surpluses.
Republicans have proven they are the Party with no financial responsibility. They have driven us into massive debts with markets unregulated and out of control. And we all will pay for it.
Never again should Republicans be able to claim they are the Party of financial responsibility....not after this wasteful debacle. They are the wasteful, disorganized misfits of financial responsibility... and it is causing us to borrow and later pay back (TAXES) $700 Billion Dollars.
Over and over during the past few years, the Republican Administration has told us "the fundamentals of our economy are sound". Well, they were not, and are not....not even close.
The Economy went completely out of control....under the "we'll leave it up to you", laid back, Republican philosophy of minimalist financial regulation. And it has burst all over their faces, their shirts and laps........And now they tell us, all Americans..; "Hurry....put up another $700 Billion right now.... or the mess we have made of things will do us all in, come crashing down on every aspect of your American way of life.. and then they're imploring us...with, "you don't want that to happen, right?" "Now be smart and pay us now, Trust Us....it's better this way". What a mess they have put us into!
They ran the store (USA), the store is out of money... and needs $700 billion.
Who will pay for it. Us, all us taxpayers.
How? By New Taxes.... to raise the money to pay off $700 Billion in borrowings we must make to get the cash to pay for the bail out.
But No One, Not President Bush, no Republican, is going to admit that demanding this $700 billion in borrowings will require commensurate level of New Taxes, that must, in the future, be levied against all Americans.
8 YEARS OF REPUBLICAN CONTROL = HUGE FUTURE TAXES FOR ALL AMERICANS.