Why the Bailout Failed
A bit late as the Senate just recently passed a tweaked version of the bailout but this is important. In another post we'll address how we got in this mess but here's why the bill failed:
Our government and the media failed to explain why this bailout, well a bailout was needed. Not just needed for Wall Street and the rich but for the poor and middle-class, or sorry, allow me to be cliché..."main street". This bailout was needed for that card shop down the street you love buying and collecting sports cards from. Yes, that small business needed this to get money from his/her local bank(s). That salon you love getting your hair and nails done at? Yes that one needed this bailout to happen so you can keep going there. That local car dealership you're eyeing that new or used car at? Well you needed this so you could get that car with a car loan from your local bank.
This mess was 'caused for so many different reasons but to have the overwhelming majority of North American's not understand this is needed to help them; that this bailout from tax payer money helps the same said tax payers is an absolute failure on the part of our current president first and foremost because the president of this country is always supposed to explain and lead the people. Then every Senator and Representative and our entire TV media and print press has also failed.
If our entire government and the media had done a better job of not simply saying "do this or great depression" (especially when the overwhelming majority of North American's don't trust anyone in our government -except apparently Mr. Obama and Mr. McCain) but instead explain exactly how and why this was needed, the same tax payers that would've been helped by this wouldn't have been calling our Congress non-stop to demand this bailout be stopped.
How we got here wasn't simply from point A to point B, it was from point A to point Z but our government and media needs to explain this in an A to B fashion in order to get the United States tax payer to get on board with helping themselves.
If this simple thing had been done the House never would've failed the bailout bill. Neither party would've voted against it (yes, they both did).
P.S. ~ I'd also agree with Sen. McCain that I would've been calling it a rescue plan from the start as it just sounds better.
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