What is the Average American citizen saying about the bailout?
Word Count: 613
Edited by: Tiffani Haynes
Congress finally passed the $700 billion plan to bailout the economy’s banks and large businesses that have been affected by the downfall of Wall Street. Many people are concerned with what this means for America and what it means for them as citizens.
Karen Turner-Ward, the chair off fine and performing arts at Hampton University is one of those apprehensive citizens.
“People are very anxious and it’s culminated to a point of frenzy or scare,” Ward said.
Ward goes on to say that many people are not trusting of the government because of what has been happening with the economy and also the word “bailout” has a negative connotation.
Johnette Elder, dorm director of Moorings Hall and Modulars Hall at Hampton, is eager to see a better economy.
“We should not have to pay for the government’s mistakes and CEO’s luxurious lives. I’m tired of paying an astronomical price for gas and food. Everything is going up, but our salaries,” Elder said.
General manager of WHOV 88.1 FM Robert Dixon does not agree with the bailout plan. Dixon says, “We’re suffering because of the greed of big business and corporations.”
Dixon goes on to say that the government should not give more money to these businesses that have already failed once before. However, he understands that, “something has to happen,” in order to help the American economy.
If this bailout plan was not passed the livelihoods of the American people may have been compromised. According to CBS News, the country has already been faced with its worst layoffs in over five years. Nearly 160,000 people have lost their jobs during the year and many feel that this is just the start. Some students are concerned that there will be a shortage of companies that will accept new employees.
Alex Gray, a music engineering and technology major at Hampton is glad that he’s not a business major.
“The bailout will definitely affect the type of jobs that people will go after and people are already losing their jobs left and right,” Gray said.
He goes on to say that with businesses being shut down it will continue to be harder and harder for people to find jobs.
Some feel that the shortage of future jobs is already in the present. Deonte Smith, an architect major at Hampton University knows the importance of the hierarchy in the workplace.
“The first people who are made to leave a job are the people who were last to be hired,” Smith said. “It’s almost like we are already being counted out before we send in our resumes to be accepted into the job.”
Smith feels that future students may need to look towards people like Bill Gates in order to secure finances for higher education because it will be even harder for children in low income households to receive an education.
There are many students who feel that their education might be in jeopardy when it comes to financing for college. Sharise Darby, a broadcast journalism major believes the economic crisis will hurt her financial aid.
“As a student the bailout will affect me simply through loans,” Darby said. “We may not have enough money for FAFSA or Hampton University may not have enough money to give out scholarships.”
Needless to say, most people are somewhat concerned about what this bailout means for them. It’s like being stuck in between a rock and a hard place, a Catch-22, or an act of irony. If the government did not pass the bill the economy might continue to fall or it might not. The problem is not knowing what will happen and so now America will play the waiting game.