On the same day that he allocated the first $125 billion to the banks, Secretary Paulson announced the largest federal budget deficit in U.S. history. Buried in his statement was a preview of the next phase of the financial disaster. The deficit numbers, he declared, reinforce the need to” pursue policies that promote economic growth and fiscal responsibility, and address entitlement reform."

He was referring to Americans who feel entitled to receive Social Security in their old age and Medicaid when they are sick. Those programs, Paulson implied, might not be able to survive the budget crisis he is currently creating for the next administration.

This is why the stakes of the bailout are so high: Unless we get a good deal, there will be nothing left over after the banks are done feeding to pay for the meager services now provided in exchange for taxation. The spiraling cost of saving Wall Street from its bad bets is already being used as an excuse for why we can't solve our many other crises, from health care to climate change.

We are no where near the end of the bottom to the top redistribution of wealth. Next time you are in Vegas and you lose a bet at gambling, see what you get when you ask for your money back. Do we continue to stand by waiting for the next shoe to drop while the rich get richer and the CEO’s and Bankers continue to party on.