“Unemployment is still soaring. There is no real estate market. The stock market is puttering along at 50 percent of last year’s value. Two million Americans faced foreclosure last year. Eight million more are on the chopping block. The bailouts haven’t done anything to help Americans who have been laid off, subjected to furloughs and pay freezes, seen their retirement benefits fall along with the stock market and been gouged by voracious health insurance costs.
Check out this statistic: according to the Fed, the total net worth of American households fell by $11 trillion last year. That’s almost exactly the amount–$12 trillion–that Bush and Obama spent on bailouts. Think about what that money–$160,000–would have done for the average family of four.”
—Me
