And where was this debate during the bank bail out?

I'm always amazed at the subtelty with which media influences the thought process of everyone. And I have to admit the conservative media is much better at this than the liberal media.

Children paying for a bail out was on hardly anyones mind back in december. Also history had not yet been rewritten to say FDR somehow fueled the Great Depression with his social projects, when in fact the Great Depression was in full swing when he was elected, his projects helped alleviate the pain, and most scholars, including the guy with a Pulitzer in economics, Krugman, say the only problem was he didn't do enough fast enough.

Okay, so now we're curious whether we're damning our kids to Asian servitude (that's where we're borrowing most of the money that we're not just printing.)

Here's some stats to keep in mind. link)

We are literally the richest country overall in the world by trillions and trillions (and trillions) of dollars.

As much as we owe other countries, other countries owe us more.

You'll notice we are not the only ones in a financial crisis, when it rains here, it storms in most of the rest of the world.

That does not mean that we do not need to start being more responsible. Because at the current trajectory, it's just a matter of time before we are no longer the super power.

But investments in jobs, and ifrastructure, and incentives to create jobs, and fair trade agreements (not NAFTA, like the opposite of NAFTA,) and fair pay for workers, will pay off long long before the children are old enough to pay for anything but candy and toys.

What will not help the poor children are further tax cuts, that's just a panacea to make people feel better, offer a little relief, and get people elected to office on a populist platform.

Also what will not only not help the poor children, but will also potentially leave them with even more problems in the future,

Is falling for that bogus dogma that some companies are "too big to fail," even if that company totally sucks, even if they do nothing to change the practices that got the whole country into this mess, even if they continue giving their kings (CEOs) huge bonuses - that we have to for some reason bail them out.

We need to let these companies fail. We need to implement oversite. And we need to stop rewarding failure.

If people have jobs they have money.

If people have money, other people will want to lend them money.

If people want to lend people money, new companies will be started to lend these people money.

This will make more jobs.

This is a cycle.

The bank bail outs lead to 0 lending. Infact most banks began lending less after the bail out.

Let them die.

When the common man has money, the banks will follow on their own, no bail out necessary.

Lots of people feel like the bailout was a bad idea. But that's just because they don't understand economics. Here's the basic rational for the bailouts:

Sometimes, due to tribulations in the economy, people start to worry about losing their jobs. They start to save their money instead of spending it. Because people stop spending money, businesses can't sell products. Because businesses can't sell products they end up having to lay people off. This causes even more people to cut down on spending, causing more businesses to have trouble, etc... a downward spiral is formed.

How do we break this cycle? Well, if the people won't spend their money, the government does it instead. By injecting money, the government is able to keep the economy's gears turning. Once the economy gets moving again, people are willing to spend more, investors are more willing to invest in new companies, thus creating more jobs, and eventually we have a positive cycle instead of a negative one.

This is the fundamental insight of Keynesian economics. This is not just some wacky theory, but one of the cornerstones of mainstream economics.

Obama has stated that he wants to reduce the national debt. But before we can do that we need to turn the economy around. And that requires lots of financial stimulus.

The monetary system is going to fail anyways. It'll only last so long and what makes you think we're not enslaved currently?! I spend thousands of dollars a year putting money into medicare, etc and I'll never see it. Not to mention the countless other incredibly inefficient government programs that eat up tax payers money.