This is bad for free enterprise
- Senate passes $634B spending bill

This Just In - money.cnn.com

Grants $25 billion in loans to auto industry and lets ban on offshore oil drilling expire. Bush expected to sign measure.
WASHINGTON (AP) -- Automakers gained $25 billion in taxpayer-subsidized loans and oil companies won elimination of a long-standing ban on drilling off the Atlantic and Pacific coasts as the Senate passed a sprawling spending bill Saturday.

The 78-12 vote sent the $634 billion measure to President Bush, who was expected to sign it even though it spends more money and contains more pet projects than he would have liked.

The measure is needed to keep the government operating beyond the current budget year, which ends Tuesday. As a result, the legislation is one of the few bills this election year that simply must pass. Bush's signature would mean Congress could avoid a lame-duck session after the Nov. 4 election.

This is another case where the government is saying, "we NEED to do this" and the people are saying, "NO!! DON'T DO THIS?" The last time was when George Bush ordered troops into Iraq.

I get the same feeling that the people are going to find this $634 billion measure just as distasteful and horrible as going into Iraq, for years to come!

The automakers get $25 billion to make more cars.. Like they need the money. And the bail out is going to help people buy more cars with credit thus perpetuating the credit problem.

This bailout is so wrong for so many reasons. The American people have clearly stated that they're not interested in the bailout. They don't want their tax money going to help out the rich, which this directly will. The government has gone against their wishes not worked in their interest.

I only hope the Canadian government learns a huge lesson from the American governments stupidity. I hope that Stephen Harper, or who ever the new Prime Minister is, will learn from this monumental error.

One of the things our Canadian Federal government can do is pay down OUR debts...set the example for the Canadian people to pay down our debts and to never get in the situation that the Americans are.

Canadians do love their debt, and they love their spending.

If we can't afford cars, let's take the bus. If we can't afford all of the millions of manufactured goods we buy.. let's not buy them, on credit.

Credit is everywhere, and people need to save up money.

I wish I could say, everybody's bank account is loaded with cash. And thus they don't really need credit. People are saving up so much money that their credit card payments are NO PROBLEM. Wouldn't that be nice to say!

The American government giving banks $634 billion is only going to come back and bite them in the butt alot in the future.

Let's all learn the lesson and start paying down our debts, and not taking on any more debts.


P.S. Mr Bush - "Take Down That Wall of Debt!!"

Questions this articles talks about:
Is the U.S. government able to lend this money?
What is wrong with government bailouts?
Is more credit good to pay off credit?
Can we take down this debt wall?