No Bailout... And Here's Why... Look To The Past!
Everyone, I'm looking for video of this, but in the meantime, I found a transcript.
On October 15th, 1992, Bill Clinton, George H.W. Bush, and Ross Perot held a townhall debate.
The candidates were asked to discuss how they would deal with Pensions, Social Security, and Medicare. Perot gave a long-winded answer, Bush kind of
evaded the question, and then Clinton said the following after already covering Social Security and Medicare first and second:
The Transcript I used is here.
Number 3, on the pension funds, I don't know as much about it, but I will say this. What I would do is to bring in the pension experts of the
country, take a look at it, and strengthen the pension requirements further, because it's not just enough to have the guarantee. We had a guarantee
on the S&Ls, right? [Referring to the S&L Crisis of the 80's and 90's] We had a guarantee -- and what happened? You [the taxpayer] picked up a
$500-billion bill because of the dumb way the federal government deregulated it.
The government relies on the amnesia of the public.
Folks, I'm 30. I don't remember the S&L scandal, so I don't have the appropriate frame of reference for outright anger in knowing that, what we are
going through now, we've been through before. It's all razzle dazzle. The whole "ohh my gosh, we could have never seen this coming" is bull.
They've seen it before. They've done it before, and what's worse, it's probably the same people orchestrating it.
All I can hope for is that, with the advent of the Internet, cheap terabyte storage, and more sites like Youtube, that ALL debates, politician
promises, and their comments will be readily searchable and catalouged online, so that when the taxpayer is put through something like this, we can
refer back: When, if at all, did this happen before? How was it handled? who were the culprits? That way, we can discourage such outright lying and