Both John McCain and Barack Obama voted for the 700B “rescue” package that now will mostly be used to support banks and get liquidity into the markets. This solution which many are saying we followed the British on was actually talked about on day one of this crisis. People like Jim Cramer (CNBC’s “Mad Money”) had it right since August 2007!
So what have we done? What have we allowed our representatives to do? We have mortgaged our children and doomed those of us who make some money to higher tax rates. It will be impossible to “grow” our way out of this without true cuts in the governments spending. I am not just talking about the Federal government, but every state and every county and city. They all must learn to stop growing government and their source of power. There will be no more money to squeeze out of the citizens other then the Federal government getting the Fed to print cash.
As I asked over a week ago, I ask again. When will we pull out of this “Financial Surge” into the banking and Wall St. markets? What Senator Obama said about the war in Iraq can also be said of this “bailout/rescue” package, "…require a U.S. occupation (of the market) of undetermined length, at undermined cost, with undetermined consequences." His belief has been to not enter a war without an exit strategy. This belief works here too.
I recommend a freeze in all government budgets for 2 years and begin means testing of every line item, cutting or eliminating unnecessary spending. The true nature of government is to create an environment that promotes our “unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” and any thing else is outside the scope of government.
© WithComment.com 2008
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