As I have said many times in this series, we’re spending $12 billion a month on the war in Iraq.
What would $12 billion buy here in the homeland?
As of this week, 7 months worth of war expenses ($85 billion) would be enough to bail out AIG, the largest insurance company that was about to go under.
Let me get this straight:
When phenomenally large corporations make record profits (like Shell, Exxon, etc.) the corporations get to keep the money. They even get tax breaks. The CEOs get huge bonuses. The American public gets to pay for that by high gas prices.
When phenomenally large corporations go under (like AIG), we bail them out. The American public gets to pay for that too by spending tax money on loans to failed companies.
We have privatized profits and nationalized losses.
Ah, but we are afraid of what will happen to us if AIG goes under. Fear is a powerful motivator.
What in the world does AIG need $85 billion for? $85 billion?
For that money we could have invaded another sovereign nation. Iran perhaps?