Regarding the financial crisis: Many people think that Bush, Obama, and the Congress made tax payers pay for the banks in order to rescue them. This is correct, but if the banks hadn’t been rescued, tax payers still would have paid for them. How, you ask? Well, guess whose checking account would have been closed and set to zero. Guess who would have lost their jobs in the then inevitable Great Depression Redux. Guess who would have suffered from government bankruptcy.
It’s always the tax payer, because the tax payer is the economy. Now the only difference is that the government decided to take over the debt of the financial system and to let your children and grandchildren pay the bill. We bought time, that’s the difference. Suffer now, or suffer later, but suffer you must!