I know enough to know that I don't know much. But when it comes to politics and economics I am really stupid. So I have a couple of questions and I'm hoping that some of you who understand these things can explain it to me.
We're in a financial crisis that has become global in scope. I've heard several different reasons for its cause. They seem to boil down to greed in futures trading, greed in the housing market, and stupidity on the part of the government. My question is basically, if the government is largely responsible for this crisis why do we think it is capable of getting us out of this crisis? They weren't diligent enough or altruistic enough or smart enough or something to prevent the crisis. What makes us think they are going to do a better job of solving it?
Secondly, the government keeps promising money; 700 billion for a bailout, raise the FDIC cap, give tax rebates, give tax credits, give health insurance to everyone, buy up all the bad mortgages, blah, blah, blah. I want to know how they can make these promises? Where are they getting this money? They can't balance their own budget. They owe foreign governments tons of money. How can they promise all this and not tax somebody a whole lot more? They would have to slash the federal operating budget by closing thousands of offices and eliminating thousands of jobs. You know that won't happen. So where is the money gonna come from?
Can you help me?
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