How bad is the economy?

When do you want to bite the bullet? This country is living off of borrowed money! Face it, we already have $80,000 per family national debt. China needs to figure out that they aint getting it back (money lended to US). If we can't support our selves now, borrowing more money will just make things worse. Pay attention. Borrowing got us into this mess, along with King W's private war.

Dan in Mobile @ 10:20 AM PDT, Oct 1, 2008

Secretary Paulson probably means well but being in charge of Goldman Sach vs the United States is a big difference...he just doesn't have the intelligence or vision that it takes to devise a "bail out" that the American people need. His "bail out" supports what he knows....big business and big CEOs.

Pamela Swancutt R(S) @ 10:15 AM PDT, Oct 1, 2008

As a small business owner who knows little of politics and whom can not get a loan, I say the heck with the banks and the heck with credit. I am barely making enough to make it by I personally would like to see the credit industry as well as the bankers burn to the ground, I haven't a problem putting up a sign saying cash only!

michael moran @ 9:50 AM PDT, Oct 1, 2008

They need to cancel ALL bonuses and extras for all the executives of all the firms/banks etc involved and let THEM live on their salaries as we have to and not on the millions they make/made in bonuses.

CM Boone @ 9:40 AM PDT, Oct 1, 2008

Wall street made bad decisions. Home owners made bad decisions. We should not focus on bailing out either of those. We need to simulate the economy with intelligent domestic progrms. We have a trillion dollars worth of bridges that are ready to collapse. Rebuild them. We have a weak energy infrastructure; allow drilling, increase incentives for solar panels on homes/businesses as well as large alternative domestic energy programs. Increase demand for housing by doubling the number legal immigrants allowed in for the next two years.

xmarks @ 9:38 AM PDT, Oct 1, 2008

Interesting article

beau.goldsgym@gmail.com @ 9:34 AM PDT, Oct 1, 2008

This problem goes a lot deeper than the banking system. People have not been able to pay there bills because prices have gone up on everything.Middle class people cant afford all the price increases.How about bailing out middle class? Not making it harder for us or more expensive.Try getting a loan when you make 50000.00 a year with a family of four.We dont get any million dollar bonus

John Carter @ 9:32 AM PDT, Oct 1, 2008

It is ironic that some of the same people that are pushing this "Corporate Welfare" are the same ones that oppose the "Welfare System" that was meant to help people in times of need...

Billy Carroll @ 9:29 AM PDT, Oct 1, 2008

I do have one thing I would like to add. I have watched a lot of home owners in central California walk away from homes they could actually afford, but became bad investments and it was no longer convenient for them to pay them. they have chosen to let wall street deal with their problems and many have bought other houses in the down market. We should introduce legislation that does not allow homeowners who have had a home foreclosed on them to buy another house for a period of 5-10 years. Then provide assistance to help them avoid foreclosure.

David @ 9:29 AM PDT, Oct 1, 2008

We elected our congressmen to represent us, but also to be leaders and make hard decisions when the common person cannot devote the time to fully understand the implications. It is time for them to pony up and make those tough decisions. If it is the right thing to do, and people are mad about it, you still have to do it. It is in our best interest.

David @ 9:29 AM PDT, Oct 1, 2008

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