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The Bailout: Yea or nay?



The Capitol was illuminated under stormy skies last Sunday evening as Congress worked on a bailout for the American economy. (AP photo)




We asked Page contributors at area high schools whether they feel the U.S. government should bail out the financial industry at taxpayer expense. Here's what they had to say:

Aleia Morin, Attleboro High SchoolI don't particularly like the idea of a bailout in the first place, but I believe that it is probably necessary to help salvage our failing economy. The fact that it did not pass and then the Dow Jones dropped another 700 points, which is a record, foreshadows much worse things, in my opinion.

Nathan Slattery, Attleboro High SchoolI don't think that it's fair that the government was going to bail out Wall Street at the taxpayer's expense because it's not fair to the middle class who have to pay for Wall Street's mistakes with their hard-earned money.

Rachel Ide, Norton High School

The government should definitely not bail out the banks because then all the taxpayers in America are going to suffer the consequences, and we should not have to pay for the government's doing. If anything does happen, the government should be trying to help the taxpayers instead of trying to put them in a bad place.
House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., center, talks with reporters on Capitol Hill in Washington, Monday, Sept. 29, 2008, following the failed House vote on the financial bailout package. (AP Photo/Susan Walsh)
Michelle Roy, Mansfield High School

It's a tough call. Although $700 billion is a lot (700 billion more dollars than I have, to be exact) it could actually be a small price to pay to bring all these banks back up. If the government doesn't decide to do it, it could mean complete and utter chaos for those who have thier own money in these banks. So if I were a taxpayer, I don't think I would mind too much.

Joe Cacaccio, Norton High School

I do not believe we should bail out the banks. This goes against the basis of our capitalist economy. It is the concept of survival of the fittest: Let the weak fail and the strong live on. This will only burden the future generations.

Kayla Bessette, Norton High School

I don't think that the government should bail out all of the banks because the taxpayers suffer and there is no guarantee that this will work. It could be a waste of $700 billion.

Brittany Reynolds, Attleboro High School

If the federal government bails out Wall Street with $700 billion, it concerns me where they will get the money from and whether or not it will come from the student college loans or car loans, something most seniors and their families are now dealing with.

Kerrin O'Connar, Norton High School

The U.S. government should bail out the banks using taxpayers money. If problems in the banks are not resolved, it can hurt taxpayers, and the money to fix this problem needs to come from somewhere.
Mac Belin, Attleboro High School

No, I don't like it because it's more money coming out of our pockets and people will be forced to work more hours and maybe more jobs just to get by.

Jeff Lincoln, Attleboro High School

No, because we already have enough problems as it is with gas and oil going up. We don't need to bail someone else out. There are people who can't keep up with their bills and payments now, and some can't even keep their homes heated.

Lauren King, Norton High School

I believe we should bail out the banks because if we don't, they might not be able to give out student loans for kids who want to go to college. If we don't help out, many students might not go to college who want to because they can not afford it.

Nicole Dionne, Attleboro High School

No, because it's taking more money out of the pockets of people who can't pay because of what's already going on.

Stephen Smith, Norton High School

The only negativity I see with this conservative party, who pride themselves on the free market system, is pushing for an idea which is completely hypocritical to their standpoint. Why is it socialism when someone wants universal heath care, but bailouts are completely alright?

Kris Tangen, Norton High School

Yes, I think the U.S. government should bail out all the banks at the taxpayers' expense because if all of our banks begin to fail, our money will begin to lose value. Without our big banks, our economy will decline even faster and our country could slip into a depression.

Chanary Sam, Attleboro High School

No, because we already pay enough - for example - things like gasoline and home heating oil going up.

Matt Reeves, Norton High School

I personally think that the U.S. government should bail out the banks. The economy needs to be fixed. Though I hate paying higher taxes, it has to be done if it's the only way to help our economy out of the slump it's in.

Stefiane Greene, Attleboro High School

No, we pay enough for things we shouldn't be paying for, so why should we add one more thing?

 



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