Bailout insulates those who need no help

Back in the late 1990s, legislation was proposed that would have provided health coverage for all Americans. The cost of this legislation was estimated at $40 billion.

The neo-con men cried out that this was too expensive and killed the bill. With the bailout of Bear Stearns, Freddie, Fannie and now American International Group, these same people have just handed over $265 billion to the richest people in America and the cost is still climbing.

We still have 30 million uninsured people in America and it is estimated that every 10 seconds, someone in America has to declare bankruptcy due to medical bills.

The CEOs of Freddie and Fannie still plan on paying themselves a total of $16 million in pay and bonuses this year.

In 2000, the national debt stood a $2.8 trillion. Most of this debt was left over from the savings and loan crisis of the early 1980s, the first attempt of the right to “get government off the backs of business.” This action supposedly cost taxpayers more than all of the wars the U.S. has been in, from the Civil War to the first Gulf War.

Since 2000, the national debt has climbed to over $10 trillion. Most of this debt has been accumulated to pay for two wars and massive tax cuts given to the richest people in America. Now, with the proposed bailout, trillions more will be handed over to those who already made billions in the sub-prime market and want to keep the party going. Yahoo.

Once again, Wall Street gets the gold mine and taxpayers get the shaft. Thank God in America we still have the best government money can buy.

J. LEEPER

Naples