There's a lot of hype these days about the economy and everyone has an opinion. And, so do I.
Attention is being paid to those people who are in danger of losing their homes, their jobs, and their investments. That's the first side of the coin. And, I'm the first to not want to see innocent people thrown out on the street or going hungry because their employer went bust.
The other side of the coin is not getting much attention, and that's where I want to spend my attention today. What about all the people who worked hard, saved hard, and are also being hit hard by the country's economic downturn? Nobody is talking about a bailout for them. No, because they still have some of their savings left. Somehow that money they scrimped and saved now puts a bulls eye on their foreheads to be taxed to cover the money needed to pay down the obscene mortgages of the people who should have know better.
The media hype about the Obama administration is they are turning America into a socialist society. Maybe they are...
As one of the hard working, responsible people who didn't live above their means and saved for their children's college educations and for their own retirement, I am highly resentful of plans to take taxpayer money (my money) and bail out the people who lived it up on credit over the past 10-15 years. Equality opportunity is not about the redistribution of hard-earned wealth to those who could have saved, but chose not to do so. And, that is the truth of this situation. People lived high-on-the-hog and now it's time to pay up. But, those of us who steadily saved and didn't run up their credit card balances should not be the ones having to pay up.
I'm an Independent voter and I am very alarmed at how hap-hazzardly more and more money is being doled out. I know where this money is coming from - the taxpayer's pockets. Oh yes, people talk about how concerned they are -- about when the market will rebound. It's not about the stock market, but what money you have to buy food and pay your own mortgage. It's no longer a question about how fast we can regain our imaginary wealth, but how long we can hold on before one of the foreign countries now holding our national debt calls for payment and then owns America!
If the government drains the personal couffers of the middle class savers, there won't be anything left to anchor us against a financial takeover by an unfriendly foe. This is economic warfare.
Wake up, America!
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Susan --
You are right on point. This is not about people wishing to selfishly keep their own hard-earned resources. It is about having to bail out those who were irresponsible and now expect politicians to find others to cover their backsides.
I recently saw how perverted the system can get. Social Security made a mistake on a friend's meager pension (resulting in an overpayment), but this person was required to pay it back -- and cover the bureaucrats' mistake -- because he had saved all his life, didn't party or take trips, and built his own house by his own hands. The result: a nice home -- and asset. Since he had 'assets,' the government would not cover its own error. They figure he could absorb the cost, even though value in one's primary residence is hardly usable, liguid case reserves. Social Security would have absolved him of this debt, however, had he been irresponsible, spent all his money, and had no money in the bank.
What message is being sent? Can any sensible citizen support policy like this?
Fred Apelquist
www.yetmo.com
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