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10 Ways to Bail Out Wall Street (and Main Street) Without Soaking Taxpayers in Debt

posted September 25, 2008 - 9:41am
10 Ways to Bail Out Wall Street (and Main Street) Without Soaking Taxpayers in Debt

As Congress debates the particulars of the Bush-Paulson bailout, one key question has gone largely unexplored: Who will pay for this mess?

Lawmakers in Congress appear to have assumed that the federal government will simply borrow more money to foot the bill for the bailout. The national debt ceiling will rise to a whopping $11.3 trillion, up from $8 trillion a year ago.

But this rush to borrowing merely shifts the bailout burden onto the backs of future taxpayers. Congress needs to change course -- and develop a "pay as we go" plan that makes Wall Street pay.

The lion's share of bailout funding should come from the high-finance gamblers and the wealthy CEOs who have so profited from our casino economy.

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Website: http://www.alternet.org/workplace/100223/10_ways_t...
Author: jdubhub
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I favored Kaptur, De Fazio, Holt plan.

Les Porter - Sat, 2008-4-10 3:07 pm
But if we have a bailout, we bubble up, not trickle down. Visit Marcy Kaptur site. http://www.kaptur.house.gov/index.php?option=com_content&task=view&id=297&Itemid=1 This got steam-rolled but it is there as a tool, and still exists. Good post, Jim. I'm not sure there is a way without a new version of the American Revolution. The only bloodless one would be an amendatory convention, as visualized by the author of Article V. Hamilton points out that congress has no say in this. (Federalist # 85.) I favor Article V. (As you know)

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