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Friday, October 03, 2008

Don't believe the hype

I just watched the house vote on the "bail out" plan for the US economy and I'm upset. I listened to Pelosi talk about the importance of this legislation. She said things like "the party is over" and "this is the end to deficit spending."

Can someone please explain to me how Congress going in to debt for this $700 billion dollar legislation (that includes things like bicycle trails) is going to help the economy? Overspending created this mess. I was hoping my leaders would set a better example. I guess they are - they are an example of what not to do.

I believe this is empty legislation, that further puts our country in financial risk by endebting us to places like China, and it was passed too quickly without enough dialogue. Have we not learned yet? What will it take to teach us our lesson? We passed the Patriot Act in the name of national security and we gave away individual freedoms at a level we are still discovering. We approved the war in Iraq because there was a scare of an imminent threat of WMM (weapons of mass
destruction) that later proved to be false. We have now crippled the American economy by socializing a capitalist system and financing it through debt.

America brace yourself for a long standing recession. There is no easy fix to this problem and I'm pretty sure the solution isn't going to come from Washington - obviously not from congress and based on recent debates neither of the talking heads running for the most powerful office in the world have the answers. We live in critical times.


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