- Make credit more accessible
- Bail out companies
- Stimulate the economy
- Help the auto industry
- Prevent foreclosures
- Extend unemployment aid
- Take over failed banks
Say hello to President Obama's plan. Wonderful, isn't it?
Mr. Obama, let me tell you a couple things.
For starters, giving people more credit won't do a single thing! One cannot spend oneself out of debt. It doesn't work that way. Furthermore, one cannot borrow oneself out of debt. Period. Credit isn't going to do a single thing! We do not need to 'borrow' to fix the economy; that's what got us into this mess!
Let us look at the facts. President Clinton was the one who pushed banks to lend to 'high-risk' borrowers. These 'high-risk' borrowers hence defaulted, and many of their loans were sold to Fannie Mae and Freddy Mac. Sound familiar? Fannie and Freddy summarily went down the tubes because they weren't bringing in money.
Bailing out companies will do absolutely nothing. Hence why Chrysler (which was 'bailed out') is now failing. Bailing out does nothing but apply yet another bandaid to the gaping wound we've given our economy, starting with FDR's 'New Deal'. More bandaids will do zilch. Nada. Zero.
As I said before- lending money to people who will not pay it back is not the way to 'stimulate' the economy. Furthermore, it isn't the government's job to stimulate the economy! It is your job to print money, period. But, of course, since you've already given up that power, I suppose you need to feel like you have some say in what happens...
We've helped the auto industry. To the tune of $31 billion. Not that it did anything, since the companies are still failing. Some help.
Preventing foreclosures will, again, do nothing. People make mistakes. People make dumb mistakes. Buying a house when they couldn't afford one is a pretty dumb mistake. It's what Dave Ramsey calls Dum Math and StupidTax. Stupid Tax is the price you pay when you use Dum Math and make an even dumber decision.
It's the way of life. But giving these people money- which ultimately, is coming from their pocket anyway- isn't the way to fix the problem.
'Unemployment aid' is about the stupidest idea that ever graced the pantheon of business regulations. You know what? If you get 'unemployed'- your employer fired you- there was probably a reason. You know why you're unemployed? Probably because you did a shoddy job. Period.
No one is entitled to money. To get money, you have to work for it. That is the most basic of all beliefs that the American people have ever held dear. Do you think those Irish people came to America hoping to get a government handout and to live on 'easy street'. Of course not! They were glad to get their factory job!
The idea that somehow we as Americans are 'entitled' to everything, is false. We are not 'entitled' to anything but life, liberty, and the pursuit of happiness. That's it. If your pursuit of happiness includes a house, go get a job and pay for it. Don't expect the rest of American society to foot the tab for you.
The government taking over banks? It's already happened, but it's a stupid idea, nonetheless. The idea that somehow the government- who has absolutely no money, and couldn't keep money in it's pocket if it tried- is qualified to handle the entirety of our money stores, is silly.
$10.43 trillion has been allocated to these programs. How much is a trillion? A lot. What is at the bottom of that page is what our government is throwing around. Pretty scary.
On that note, let us end this...Glorified Rant.