Despite What Pundits Tell You, There’s No Such Thing As ‘Government Money’

 

Exactly on point. It’s OUR money. The government only spends it and redistributes it and takes it.

Tamny, the author of the attached piece, makes another point. It was YOUR MONEY that went to GM and Goldman Sachs and Chrysler (for the second time) to bail these failing institutions out. No wonder the big government folks are calling for yet more government. They want their piece of YOUR MONEY too. If the bankers get paid with your money, why not them?

How about we just let people keep the fruits of their labor and let companies and other institutions that screw up just die? How about that? New companies will do a better job. That the fat cats convinced the politicians to bail them out in 2008/2009 is deep at the core of our current economic and societal problems.

And remember, it was done with YOUR MONEY.

(From Real Clear Markets)

The money used by Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke (with President George W. Bush’s blessing) to bail out banks, investment banks and carmakers was not evidence of some newfangled form of currency being put to work in order to save the economy…It was merely sad evidence of government extracting precious wealth from the private sector in order to prop up what the market-disciplined private sector had previously rejected.

Click here for the article.