I don't understand all this "bailout" talk.
Financial institutions. Car makers. State governments. And takers of student loans?
I'm no economist, and I don't even play one on tv. But it doesn't take a rocket scientist, or even an economist, to know that taking money from the productive members of society and giving it away isn't a recipe for success.
As far as the financial institutions and car makers go, the market doesn't work if the taxpayers shield people from bad economic decisions. Next time I go to Las Vegas, I want the casino to shield me from any losses. How long will Caesar's last doing that? Not long.
Plenty of people took out home loans that everyone knew they couldn't afford. I'd been hearing about ARMs' "resetting", in big numbers, for a few years. This so-called crisis was man-made, predictable, and necessary to correct the mistakes being made.
Government needs to get back to doing what the Constitution says it should do: establish justice, ensure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty.
Telling banks they must lend to people who can't afford loans doesn't promote the general welfare. Creating autonomous government entities to back such loans doesn't promote the general welfare. Giving, even loaning, money to failing businesses--I can't imagine the Founders ever had any such intent.
Paying for college educations? I don't remember that being an enumerated power. No, I'm not ready to go so far as to say the government can do no more than the Constitution says--even the Founders "stretched" it, and NASA is a good thing--but such stretching must be minimal.