Although this is a real estate blog, I feel compelled to comment and vent my anger at the Bailout Mania that is sweeping through our government. It seems that our "leaders", and I use that word very loosely, have completely lost their minds and can't move fast enough to bail out everyone, whether it be companies, individuals or governments who now find themselves between a rock and a hard place.
The more I listen to the "experts", the more I am convinced that nobody in a position of authority has a clue on how to get us out of the mess we are in. You need to look no further than our Treasury Secretary, who less than two months ago said the world would end if we didn't agree to buy toxic assets from troubled banks, now says we don't need to buy them at all! Think about this for a minute. Our habit of borrowing from tomorrow to pay for today has, in large measure, brought us to the point we are at. What is our government's plan to rescue us? Borrow even more money from tomorrow to pay for today! This is nuts!
You would think that once it is clear that nobody has the answers, caution would be the order of the day. But no, instead we throw caution to wind and race to spend money we don't have to bail out people who can't be rescued. We are bailing out banks, insurance companies, probably auto companies, those unfortunate individuals who are in trouble with their mortgages, and probably city and state governments as well. We are at the point where we are no longer talking tens or hundreds of billion of dollars, but are now talking in the trillions. And these trillions of dollars are dollars we don't actually have. This can't possibly end well.
But not everyone is in trouble. There are people in the country who have made it a habit to live within their means. IS THERE ANYONE IN OUR GOVERNMENT LOOKING OUT FOR THOSE OF US WHO HAVE USED OUR HOMES AS ATM MACHINES, WHO HAVE NOT MADE IT A LIFESTYLE TO BORROW FROM TOMORROW TO PAY FOR TODAY? It would appear not. Isn't anyone willing to stand up and be the voice of us that don't have massive credit card debt, that have gone without at times because we didn't have the money to pay for it, that have made a habit of saving some of what we earn because it is the right thing to do?
This whole economic situation is not only sad, it is downright maddening. What is most frustrating is that those of us that have lived our lives in an economically responsible way are going to get stuck with the tab for the disaster that our government seems intent on bringing upon us!