John Griswold
Jan 10, 2021

This is inaccurate in a couple of ways. The bank bailout money was paid back by the banks with interest, and keeping the banking system afloat saved countless Americans from very real and severe suffering. Our economy was entering into a "vicious cycle" with job losses causing business failures causing further job losses causing more business failures... and the banking system, particularly the business loaning sector was frozen solid. Those businesses and jobs were held by real people with real bills to pay and real mouths to feed.

I have to add that not a whisper of deficit talk preceded the $2.2 trilling Cares act, all deficit spending, and more relief spending, in the order of more trillions, is on the way...all deficit spending.

John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

Responses (1)