I Need A Rolaid!

I need a Rolaid.  Our government is planning a massive bailout to help manage the current financial crisis.  The American tax payers as a whole are essentially going to buy worthless mortgage backed securities for hundreds of billions of dollars to rescue the collapsing firms and curb the domino effect.  Part of me gets why this needs to happen.  We did something similar during the Savings & Loan crisis.  I can’t help but wonder if the fact the government was there with a giant safety net of George Washingtons opened the door for a repeat performance.  What’s the harm in taking insane risks when you don’t have to suffer the losses?

Nancy Pelosi indicates the House will support this plan if consideration is also given to main street during this crisis.  She wants additional funds allocated for food stamps, health care assistance, mortgage relief, etc.  In her mind Wall Street shouldn’t be the only one rescued.  Though I agree there is great need in both areas I am struggling with the fact our government is still in a heavy spend mode (bailouts, Iraq War, border fence, etc.) while spiraling into even greater debt and no real plan for increasing revenue or cutting expenses.  It’s great for government to bail out its corporations and citizens.  Who is to bail out our government?  With no real plans to raise taxes, it seems likely to me we will have to continue to sell bits and pieces of ourselves to foreign countries and increase our reliance on their willingness to extend credit.  This is nuts!  The United States isn’t supposed to need credit from other countries.  We are supposed to be the ones with the deep pockets.  Of course, we could continue to borrow from Social Security instead and watch with great horror and exaggerated shock as that system collapses.  Funny how it is illegal for companies to touch the money that is to be garnished from employee paychecks and sent on to Social Security.  The government knows how risky touching that money can be, and yet…

Listening to the president this morning made it clear to me what the true problem is.  Our government only wants to ‘regulate’ when there is no choice otherwise to do so.  Because involvement only comes in crisis, what is necessary to fix the problem is extreme.  Regulation along the way is the best way to flush out problems before they become terribly expensive.  The contractor working on my house put it best this morning.  It is human nature to be corrupt and set on taking as much as possible.  We all need to be regulated to an extent.  Put an open cookie jar in front of an unattended child and just see how good they are at only taking one.  Ain’t gonna happen.  A person who criticizes government’s involvement in our daily lives and yet feels the need to watch their child at the cookie jar isn’t being consistent in their understanding of human behavior.

4 Responses to “I Need A Rolaid!”

  1. Tricia says:

    I’m just at a loss. It’s a mess; a complete and shameful mess. I don’t want to pay for this. If they raise taxes, I’m going to scream. I’m tired of congressional gridlock, of bipartisan shenanigans and the very idea that you and I are going to shoulder this burden has my insides churning. I think I need one of your rolaids.

  2. Holly says:

    very well said. i need a rolaid too

  3. Holly says:

    Thanks for the kind words re: Lo’s grandmother. We appreciate how warm everyone has been.

  4. Jen says:

    It’s scaring me. I have no idea what the right answer is. I wish that it had been addressed a long, long time ago.