Published: October 03, 2008 05:06 pm            

Ada residents respond to economic bailout

Ada — The U.S. House of Representatives is expected to vote again on a $700 billion bailout package, a deal sweetened with additional incentives and tax cuts added by the Senate when it passed there Wednesday.

Thursday, AEN hit the streets to find out what the average Ada resident thinks about the economic bailout.

Out of 20 people approached, 10 were against the bailout. Seven out of the 20 were either unsure or impartial about their opinions.

Only three of those approached said they are in favor of the bailout. Those approached were asked to briefly explain their position, and provide their first names.

“I think it’s wrong,” said Simon. “I think it needs to correct naturally, and what happens, happens.”

“It’s easy for the government to expect us to bail out Wall Street,” said Jeffrey, “but who’s gonna bail us out? This is just another case of the rich getting richer and the poor getting poorer.”

“I think it’s good enough for them, we don’t need it,” said Ben.

“It’s crazy,” said Brian. “If we bail Wall Street out and they default again, what’s going to happen then?”

“I disagree with the bailout,” said Corey. “I don’t think the taxpayers should have to pay for this. ... They should be accountable.”

“Go for it, we’ll see what happens,” said Tristen, one of the three in favor of the bailout.

“I think we have to do something,” said G., also in favor of the bailout. “We’re in too deep to do nothing.”

“I don’t like it, and I’m about to go raise some cane about it,” said Jack, who was on his way to the local office of U.S. Representative Tom Cole as he was approached. Cole and Democrat Dan Boren were the only two of Oklahoma’s five House Representatives to vote in favor of the bailout package on its first time through.

The question was also posed to posters on the AEN community forum. As of press time, seven forum members responded to the question, six of which opposed the bailout.

“The financial mess we are in is the fault of an intrusive government and a more intrusive government to the tune of $700 billion is not going to fix anything,” said forum member Libertad.

“This is a political version of Enron and it should be pursued in the same way: Not with bail-outs but with investigations and prosecutions. For Congress to bail us out of this is very much like hoping the fox will do what’s in the best interest of the chickens.”

“Our current economic crisis was caused by greed and unregulated excesses, thanks in part to politicians and government officials on both sides who are beholden to special interests on Wall Street and in the finance industry,” said poster AdaNeedsChange.

“A bailout helps the very people who caused the problem in the first place, but will do nothing for the average Joe.”

“I support the bailout,” said poster WhatMeWorry. “In an economy that is based on trickle down economics you can’t let the head of the stream go dry or turn to poison.”

        

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