Tuesday, September 23, 2008
Lead by Example
The government has presented fiscal responsibility to the people that has created a society in debt up to their ears. In addressing this problem and spcifically the stock market no one is discussing the necessity of balanced budgets or paying off the national debt. The media is failing in its criticism by allowing themselves to be part of the blind eye. The economy consistently ranks as the number one issue voters care about. This being the case, is there a possibility that our debt effects our economic progress? Absolutely. It would be foolish to run a business or a home on similar economic policies. The media is not looking past the Fannie Mae/Freddie Mac. Examine the consequences of our debt and or the lack of support behind dollar. The politicians don't want to fix the real problems because that would require discipline and dedication to securing the future past the next election cycle. Therefore someone outside of politics has to educate the nation about where the source of this economic problem exists and what can be done about it.
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3 comments:
I 100% agree!! I think people should be focusing on their spending habits and not being in debt, and until that problem is fixed and people quit leaving above their means our economy is going to have issues!
Indeed, your definitely right in that it will take someone outside of politics to address citizens on what they need to do if the crisis is really going to be solved. Because there is no way a politician could tell their constituents they need to change their financial behavior, talk about hypocrisy.
Unfortunately, those outside of politics who are knowledgable about the current problems are usually those involved with big business. Thus, they will be unwilling to address a lot of the true causes. Predatory lending practices, "pcaking" mortgages as a viable asset at three or four times the actual value of the property, CEO million dollar bonuses, etc. Of course, economics professors would be the ideal educator for the public, but many of those are very biased toward the capatilistic system. Capitilism does have its values. The "invisible hand" can guide the market in most instances. But, perhaps an "iron fist" is the more appropriate guiding principle when practices threaten to undermine an entire nation. While keeping profits private, American citizens are responsible for the losses without the benefit of the windfall that came before the storm.
Honestly, if these businesses need a public bailout, then some of their private assets should contribute to "fixing" the problem. If the working man's home can be seized in the name of Eminent Domain, then the White collar, big business man's 3rd and 4th home can be seized in the name of saving our country.
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