Paulson Plan

I don't think I understand this plan at all, I think the Government meaning the American Taxpayer will buy all the debt from large Corporations that no one else would even touch there by freeing up money to ship more jobs out of the country, but has it been decided that the plan will pay .40 on the dollar or will they pay the whole dollar and the taxpayer will be the big loser? Another question is how are we going the pay for all the bail outs plus the war debt. America has better start cutting the fat military budget and let some companies fail. We can not avoid all the pain and save the patient.