$700,000,000,000

One of this morning's news shows wrote out "$700,000,000,000" instead of using the normally viewed "$700b" to describe the financial market bailout amount currently being considered in Congress. I must tell you, I was more than a little shocked when I saw the number of zeros attached to the $700b number I have grown accustomed to seeing. All of those zeros really put this number into perspective. Add inflation, government mismanagement and the addition of a few groups (foreign banks doing business in the U.S. and investment banks now becoming "banking" banks) and the real number will likely exceed $1,000,000,000,000. That's one trillion dollars. Trillion. I don't even remember learning numbers as large as trillions. It's simply a massive amount of money to be funded by the American taxpayers. I'm scared and angry. We should all be scared and angry.

The Wall Street Journal quotes Treasury Secretary Henry Paulson as saying, "If the bailout doesn't pass, then heaven help us all." Sorry Mr. Paulson, but this is not a new revelation. Many, many Americans are already praying for heaven's help. They already need divine intervention to feed their children, keep their homes out of foreclosure or pay their rent. Thousands of Americans are already living paycheck to paycheck, trying to survive with no paycheck at all, or using credit to survive. I doubt very, very few of these Americans care whether Wall Street survives or not.

The American economy has been in a downward spiral. The fall of the financial markets will make our current economic situation worse. Government deregulation and corruption on Wall Street have created their own mess, while the players in this drama were awarded bonuses, incentives and golden parachutes. In 1887, John Acton wrote, "Power tends to corrupt and absolute power corrupts absolutely." Unfortunately this is playing out in our financial markets today.

The American taxpayer should not be burdened with this excessive bill. We need job growth, health care, improvements in education and infrastructure. We cannot afford to bailout the misdeeds and mismanagement of those wealthier than the majority of American citizens.

When the economy hits bottom, the position many Americans have already found, we will build a new economy again. Heaven help us to be wiser and more prudent.

View the full Wall Street Journal article here: http://online.wsj.com/article/SB122186563104158747.html