The Big Loser in this Financial Mess? You.

You don't know this man, but he's about to take alot of your money.

Whether the $700 billion bailout will save the economy or not is the subject of every talk show up and down the dial, but what we do know is at the end of the day, the bill will come to your doorstep.

You will pay for this bailout not only with your wallet, but in the lack of ability of the government to do things for you in the future because of it.

Barack Obama is already talking about having to cut back on some of his plans if he's elected president if the bailout goes through.

"Does that mean I can do everything that I've called for in this campaign right away? Probably not," he said on NBC's "Today." "I think we're going to have to phase it in. And a lot of it's going to depend on what our tax revenues look like."

I also hope you've noticed, the one person who hasn't been asked what should be done with your money is you.

Makes you re-think the $10 you just donated for change huh?

The September Slaughter Continues

The AIG Building

The corporate dominoes continue to fall this week as the federal government announced a plan to spend $85 billion to bail out insurance giant AIG.

The move comes after AIG failed to recieve a $40 billion bridge loan on Monday and it couldn't raise enough capital to avoid a complete failure, which many analysts speculated could send shockwaves throughout the economy.

What this means to you is that the economy is now officially the highest priority issue in the upcoming election. Expect to see more ads pertaining to the economy, and both candidates will start to make it a point to talk about what they can do to fix the mess.

Here is John McCain's take on what happened with AIG.

Fall Fallout

Caution: Watch out for falling blame


The collapse of two storied financial institutions has both parties scrambling to point the finger to boost their campaigns.

Barack Obama and John McCain took turns responding to the Whirlwind on Wall St. involving the selling of Merrill Lynch and bankruptcy of Lehman Brothers, two of the biggest finance houses in the country.

AIG is also on the ropes today as it is asking the Fed for a $40 billion bridge loan to hold off collapse while it sells assets.

Barack Obama seized the opportunity and threw a jab at the GOP.

"(I do not fault Sen. McCain, but) I do fault the economic philosophy he subscribes to. It's a philosophy we've had for the last eight years — one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else."

John McCain's camp already has an ad circulating to counter punch what happened to the economy.

An excerpt from the ad:

"Our economy in crisis. Only proven reformers John McCain and Sarah Palin can fix it. Tougher rules on Wall Street to protect your life savings. No special interest giveaways. Lower taxes to create new jobs. Offshore drilling to reduce gas prices."

One thing that isn't in crisis is the campaign fund for either candidate. Both candidates reported personal-bests in fund raising for August, with Obama claiming $66 million and McCain raising $47 million.

Cost of Running for President: $400 Million

Can it be all so simple.

It seems that change will cost alot of change in 2008.

The Associated Press reported Senator Barack Obama raised $52 million during the month of June for his presidential campaign.

Although the sum is close to his record of $55 million in one month, analysts say that the money is only a fraction of what they think he'll need to run a successful campaign.

Barack Obama and the Democratic party have a combined goal of $480 million in campaign funds. John McCain and the Republican party is expected to have around $400million in funds.

The two campaigns combined will have a campaign budget the size of a decent sized city government...and it's a safe bet that money won't be spent on sticky tape and glitter.

Meanwhile in the city of Milwaukee, the African-American community just found out that the premier festival celebrating their culture is being cancelled because organizers couldn't raise the funds to hold it.

The more things change, the more they stay the same.

McCain Plans to Offer $300 Millon Prize for Better Car Technology

In today's out of touch news, John McCain told a crowd at Cal State University that if he was elected President, he would propose a $300 million prize for anybody who could design some technology that surpasses the current electric/hybrid car technology on the market now.

First of all, better technology than the commercially available electric/hybrid stuff already exists (see Honda's new FCX Clarity car or the Tesla roadster), it just costs too much to build on a mass market scale or there's not enough of a support system to make the car available to everyone.

Secondly, new technology means new parts, new mechanics, and new stations to recharge/refill the car...all of which would probably cost billions.

That Tucker movie must've been on TV last night or something.

The Straight Dope on Taxes

Neither of these guys will fix your tax problems

Apparently, Barack Obama and John McCain are arguing over who will take less of your money over the next four years.

John McCain is saying that Barack Obama's tax plan will add over a trillion dollars in new taxes over the next ten years, when economists have already said that his plan will lower taxes for the low and middle classes.

The fatal flaw in Republican thought about taxes is that it assumes that all businesses are moral. We all know they are not.

Their theory is that if you cut taxes for the rich, they will re-invest the money into their businesses to create more jobs for the lower and middle classes. But in reality, they take that extra money, streamline their businesses, and move jobs overseas. Rich people get rich by saving money, not spending it.

The problem with taxing the rich to balance the budget is that the rich will get rid of their bigger expenses (managers and such) to make up the difference, and you're still out of a job because "times are tough."

The choice is yours.

National Gas Average Breaks $4

Even I have no words for that.


The AAA reported that the national unleaded gasoline average topped $4 a gallon for the first time ever on Monday.

A record-high $11 surge in crude oil price to $138 a barrel likely sparked the jump.

It was only eight years ago around this time when the national average was $1.52.

If you want to save money on gas, most areas have a website that lists gas prices in that particular area, check and see where you can find the best value.

Kanye West also has a tip for getting the most out of your gas dollars:

Airlines on Course to Crash Land

The days of flying cross country whenever you want may be numbered.

The airlines survived 9/11, but it doesn't seem like they'll make it through $135.

In the face of record-high oil prices American and United Airlines, the nation's two biggest commercial carriers, have grounded flights and cut up to 12% of their routes. Continental Airlines has also foll cut 3000 jobs and slashed capacity

Similar to the new policy on charging for the second piece of checked luggage, expect this trend to trickle down throughout the rest of the industry in coming months as the airline industry does whatever it can to stay afloat through this economic downturn.

Continental Airlines has already followed suit today by cutting 3000 jobs and slashing capacity by 11%.

What this means to you is that it's about to become more expensive and inconvenient to fly until either the economy gets it's act together, or airlines find a more cost-efficient way to do business.