It seems as though many economists are saying that our country is at the verge of bankruptcy. The banking system is about to collapse and cause our nation to go under, taking other nations down with it.

I am not an economist, nor do I have all the answers or solutions to this problem, but I can say certain things because of some common sense that is factual.

By bailing out banks and the private sector, we are simply trowing money away, as we are simply delaying the inevitable.

Mistakes must be paid for by serious losses from those that put us here to begin with, and got rich while doing it.

Think of it in simple terms, the more money we spend that we don’t have the more we have to pay back, simply like when you get a car loan. You must pay back the money plus interest, the only difference is your car payments end after 5 years, this doesn’t. We have almost tripled the deficit of the country in less than a year in bailouts and stimulus packages. If we continue, we will go bankrupt and drag  other countries down with us.

In simple terms, if you borrow $100,000, and then put $100,000 in the bank, you have $100,000? Well, not really, you have no money. So the more money we borrow to survive without fixing the root cause of the problem, then we are simply delaying what is meant to happen but are going in debt while doing it. Taxpayers, you will pay for all these bailouts for as long as you live and these stimulus packages are not free money, they are simply an advance on your taxes.

The true cost of this will be more than double what you receive.