How will the US government's 700 billion affect tax payers?

Answer 1

The Bigger Question is how will the resulting fallout affect you personally. The bailout may cost you $2600 but the loss in total wealth will be much greater than that. You should invest in internal funds or mutual funds to diversify your wealth.

Sources:

http://www.amfi.com/types/international-mutual-funds

http://financialplan.about.com/

I've heard that every single American just went in debt $2700 because of it - INCLUDING children!

I'm assuming that's because of some taxes somewhere that we will have to pay.

Actually the government will be purchasing, on everyone's behalf, hundreds of billions of dollars worth of mortgage-backed securities. Effectively everyone will own a piece of America's real estate. When the government sells these mortgages, at a potential profit, everyone benefits. This could actually turn out to be one of the great money makers ever for the United States Government. Bill Gross from Pimco states that this is one of the greatest investment opportunities for America.

That anyone or organization, let alone the government could turn a profit on the

defaulted loans is just ludicrous. Many properties are being vandalized. Most will be in disrepair by the time anyone who can actually afford them will have the cash to buy them. There is $1.3 trillion in bad loans, so be prepared when "they" come back looking for the remaining $600 billion.