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Bailout Bummer

4/06/09 - Posted by Christopher Reinhard under Economy

While money does not grow on trees, it would appear that the federal government is still quite confused about that bit of information. What’s more, they appear to be quite confused that such mythical money trees do not actually exist inside the wallets of taxpayers, because recent studies by government financial analysts suggest an increase in the net cost taxpayers will incur when the new budget drops—from a pocket-change estimate of $189 billion to over $350 billion. If you are reading along, you will recognize that we are officially screwed.

While the outlook is bleak, it has been announced that some of this cash will be used to help out homeowners who’ve slid closer to foreclosure, as well as to return money to individuals whose banks have gone under. So, that’s good. In the meantime, we’d suggest some of our older readers get around to thanking their children, their grandchildren and their supposed great-grandchildren for bailing them out over the next fifty years or so.

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