In the words of Dr. Emmett Brown from the movie Back to the Future, "GREAT SCOTT!"

The government's a landmark $700 billion bank bailout on October 3, I've had alot of time to watch the continued lack of effectiveness and a still faultering economy.

To be honest the U.S. is not really in a position to rescue bankrupt companies. The fact of the matter is that it is itself bankrupt. And just as the financial industry has been an enabler of consumer deficit spending, foreign governments have enabled the U.S. government to spend more than it brings in, by buying up U.S. debt. Foreign countries now own more than half of U.S. debt, compared with 5 percent 20 years ago. The biggest outside holder of U.S. debt is China.

A $700 billion bailout only scratchs the surface of our debt. We cannot continue to grow, based on borrowing against the future. The domestic finance is lack, and our foreign enablers are picking up on it. The economy will sqeeze, our standard of living will decline, and more people will become poor and unemployed. Unfortunetally, we're in for tough times and the road is rough ahead.