Henry Paulson, George W. Bush, the Republcian Party and the Continued Destruction of the United States Economy--A draft

The Bush administration is looking at another $800 billion dollar income transfer scheme to give rich investors via government purchases of Citigroup Stock, as well the buying of bad mortgage debt from this and other banks. This is called extreme socialism for the affluent, the base of the Republican Party, as well as of many Democrats.

Two days ago, I received an unsolicited preapproved loan from Wells Fargo, which I have chosen not to accept. It makes me wonder if the credit crisis is real, and the answer is that it is not. Paulson, Bush and Obama are fighting an illusion with borrowed money that may send this country into bankruptcy.

Buying stock in Citigroup is intended to push up its stock price, which helps only rich investors. The same holds true when the government takes on the bad mortgage debt of banks.

However, the obvious thing to do is to purchase the bad mortgages, and then provide favorable terms to home buyers, but that's not what's going on here, unless Paulson and Bush are incredibly stupid. They are robbing everybody's future social security, medicare and medicade payments. When those debts come due, Republicans and Democrats will turn around and tell us the government doesn't have the money, although they can borrow trillions of dollars and bail out the rich. They'll never have a few extra billion for hard working citizens, unless it will avert violent revolution.

What Paulson and Bush are doing should demonstrate how much the Republican Party and its base of "the have and the have mores" are freeloading parasites on the rest of us.

As for the real problem plaguing us, so much money and wealth have been transfered from working people to the rich over the last thirty years, we can't afford to buy things even if the money is available. Espeically now that the equity in our homes is being destroyed. We can't stupidly borrow against our homes anymore, or if we're barely making payments on our bills now.

I didn't borrow against my house, and maybe that's why Wells Fargo is so desperate to give me a loan at zero percent interst for the next year, and less than five percent afterwards for the life of the loan.

The real problem is that wages and salaries have dropped during the Republican reign of lies, fraud and deceit (aided by the Democrats and their leaders Pelosi and Reid), and we can't afford to borrow more money in the aggregate to keep the economy afloat.

So it doesn't matter if there's money to borrow or not, because we are unable to do so in sufficient amounts to keep the economy growing. The only way to do that is to establish an economic climate, much like the New Deal, in which wages and salaries grow in real terms.

Otherwise, Paulson and Bush are just throwing good money after bad; and perhaps that's their intent; rob from the working folks and give to the rich.