Yes. Now an average guy on the street--let's just say they're reading some newspaper headlines over the last 18 months. Now what's the impression they get? First of all, there's this huge bailout, a Wall Street bailout. So you get these firms on Wall Street that are getting billions of dollars of taxpayers' money. That, of course, makes people get really happy and excited about that. So we're bailing out Wall Street first of all. Now there are people that are making a case that the economy was in very bad shape and that we had to drop $700 billion. We didn't vote for that. But there are people that make the case that, Well, there were these things that were failing. So we drop all this money into Wall Street. We bail out banks. We bail out insurance companies. And then the bailout fever really gets started, which we predicted would happen if the Federal Government basically opens the kitty to any group that wants to bail out anything, and we start buying out Government Motors--I think it used to be called General Motors before--and Chrysler. So we're doing that. And then we decide, Hey, it would be a great idea if we bailed out college kids who want to get loans. The government's going to take that over. And now the government is in the process of collecting other things that it can own. Of course notably, 17 percent of the free side of the economy which used to be where you worked, Doctor, in health care. So now the government's taking over 17 percent of the U.S.…
Editor's note · Context
The speaker discusses government bailouts and their impact on the economy.
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