Monday, October 20, 2008

A Classic

Today's quote is most often attributed to Ronald Regan all though he most likely isn't the creator of this quote. But I thought in today's troubled economic times this classic stand by would be appropriate.

"The nine most feared words in the English language are I'm from the government and I'm here to help."

Today the government is helping a lot whether we want it or not. Bank of America, my personal bank, was nationalized by the government even though they were financially sound and were in fact buying up the struggling banks. The $700 billion bail out package passed but already Congress is calling for another bail out bill.

The government is not always the answer in fact in so many situations it's just what we don't need. When our country is suffering economically taking $700 billion from the people and buying up banks is not going to help. When stocks are dropping in value forcing the nine largest banks to create more stock for the government to buy only decreases the value of the stocks even more.

What we need in America today is more personal responsibility; let the banks who made risky loans collapse and let the banks who were smart and didn't give loans to no income families buy the failing banks. Let the people who took risky loans be foreclosed don't take money from me to pay for their homes.

1 comment:

Emily Elizabeth Stevenson said...

I agree. People are so wrapped up in the ideas of fairness and immunity to consequences that our government operates on a faulty logic.