This is a disaster. The current Congress has raised the national debt ceiling to over $10 trillion, and an unbelievably-large mortgage bailout is in the process of being authorized. What does this mean for you? Another $1000-$1500 tacked onto your share of the national debt.
Many responsible people pinched pennies, worked hard, purchased modest homes, and generally lived within their means. Many irresponsible people spent freely, worked sporadically, purchased homes they couldn't afford, and generally lived beyond their means. Every man, woman, and child in this nation is now poised to foot the bill for the irresponsible actions of the latter group. What's more; every man, woman, and child in this nation is poised to finance the losses of the large financial concerns that authorized the loans. Some try to say that capitalism is the problem, but this isn't capitalism. Capitalism isn't a system whereby businesses reap the profits on easy street, and offload the losses onto someone (or, in this case, everyone) else when the road gets rocky. What we have in this country (and have had for a long, long time now) is a bastardized socialist capitalism, and the powers that be only intend to make things worse for all of us.
When you look around and see the problems we face, just remember: This wasn't caused by capitalism. The powers that be want you to believe that; they want you to rail against capitalism, and they want you to believe that it causes your ills; they want you to demand government action, and they want you to punish one major political party by voting for the other; even though each of the two parties are virtually one and the same. In essence they want you to play right into their hands. Unfortunately the American people quite often does just that; and they do so quietly, happily, willingly, and most certainly unknowingly.
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July 28, 2008
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