Like ancient Rome, the United States is becoming bloated by heavy, bad debt. Also, there may be "barbarians" tearing down our borders and attempting to sabotage our infrastructure for their own gain. The morale of the story is Rome wasn't built in a day, but it didn't take long for it to implode under its own weight.
In America, the government is being asked to take on a heavy financial responsibility, which is to bail everyone out! The banks were first with their $700 billion bailout plan, because they took a gamble with subprime mortgages and that backfired; homeowners want some money, too, to fend off the banks; major cities think they deserve $50 billion to cover expenses associated with the economic downturn; now General Motors (GM) wants to put its hands into the honey pot so it can keep making gas-guzzling Suburbans and Tahoes. Then, of course, the cycle starts all over again with consumers going into heavy debt for things they really don't need anyhow.
Let's face it, the United States tax payer (i.e., me) cannot take care of everyone's financial mistakes. In that case, I will need some money to bail myself out of the situation created by the government's numerous bailout plans, but I will completely expect the government to cover it. (That's a paradox.)
If I go to the bank and borrow $1,000 I will be expected to pay that principle back to the bank with compounded interest. In other words, they'll put me on a monthly payment plan over a 12 month period (it's just $1,000 after all). Does the U.S. Treasury put the banks on a payment plan when they receive their bailout money? Money is not free! Think about it.
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