US BailOuts: Rational thinking needed

The worst ever economic tsunami has its origin in United states.It all started with the failure of real estates.It had relational effects with the failure of financial markets.Every day,a new company is looking for a bail out package from the government or else look to file bankruptcy.
The failure of real estate markets is due to more job losses or tough financial crunch like sky-high prices of homes unrelated with the affordability of the customers.
If a government can not create jobs to its citizens any government would face the same economic crisis how ever strong it may be. In last two decades more jobs are created in Asian countries in the form of BPO and there by more jobs were lost in the western countries.
Now if these countries are going to be against BPO and the Asian contries esp.India are going to be worst affected in the coming years.
If bail out is the quick-fix answer to all companies,let all the companies surrender its business to the govt and let nationalise all the business.
Instead of job cuts, there can be salry reduction upto 30% across the board in all sectors.Tax reforms will also be on the card on economic healing.US will have to take bak foot in all war related activities and Space programmes. Govt expenditure is more needed to its own people.
Assurance of safety is the manthra,now.