Federal Bailout Policy One-Sided
Major financial institutions termed “too big to fail” have received hundreds of billions of dollars in taxpayer-funded bailouts during the past few years. Likewise, two big automakers were bailed out because someone in Washington decided they were “too big to fail.”
Many big cities and states guilty of mismanaging taxpayers’ money also have been bailed out with “stimulus” money.
What about small towns, such as Mingo Junction? Are they too small to be looked upon favorably in Washington?
As noted above, Mingo Junction’s fiscal calamity is no fault of village officials. The demise of RG Steel has taken village finances to the brink of collapse.
Also as noted above, state government is attempting to help. But there has been no extension of a helping hand from Washington, to our knowledge.
So big companies, states and big cities where little is done to curb spending, get help.
But Mingo Junction, population 3,449, apparently is not “too big to fail.” Something is wrong with this picture.