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Economic Bailout $700 Billion, Environmental Bailout Priceless

Posted September 29, 2008 21:11 by Peter Corbyn in Business, Climate Change

The U.S. subprime debacle is now in full swing. Lawmakers in DC can’t seem to agree on a $700 bailout plan. Plan? Why did they let this happen in the first place?

$700 Billion and John McCain wants to lower taxes? Hello! Think about this for a second. If you are not going to help pay off the billions of dollars, who is? Yes, you guessed it – your kids!

It’s a bit like trading in the Prius for a Hummer and telling your kids they can't go to college because they are driving in the back seat of their tuition and text books.

When will Wall St. stop worrying about the next quarter and DC stop worrying about the next election?

Imagine a presidential news conference in 2018 (10 years after James Hansen’s warning that we only have 10 years to turn this ship around) after the fourth Katrina-like hurricane of the year.

Today’s bailout of $700 Billion will seem like a joke. Picture the president saying we need a $7 trillion climate crisis bailout plan - now. We have to build 200,000 wind turbines now, we have to stop pumping oil now, and we have to invest in solar energy now. Why don’t they listen in 2008 and start the process now, not in 2018.

In 2018 the president will be looking back and thinking that perhaps Al Gore’s Clean Energy in 10 years in 2008 wasn’t such a bad idea after all.

A few years ago subprime seemed like a good idea and now look at the mess today. Does anyone in DC see beyond the next election or the consequences of their actions?

Bailouts are not plans; they are the student equivalent of cramming for an exam. I have to admit, I did cram for the odd exam, 25 years ago, when I was 18. I am not 18 anymore, neither are the folks on Capitol Hill. It’s time they woke up and started acting like mature adults and not teenagers cramming for an exam.

Why? Because cramming for the climate crisis exam is not going to work!

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