Thursday, September 25, 2008

Money Management, Government and You

This whole economic crisis recently has freaked me out. Not because I see it as doomsday but I see it as another example of how messed up we view how to fix money problems in this country.

I have two problem with all of this. First, it seems very short sighted. I heard W speak last night on the bail out and made clear that one of the reasons we need to bail out Banks is so that can give people car loans if they need them. What people REALLY needs a car loan? If they do, why can't they wait a little bit? They answer a problem with borrow more money. None of this would have happened if everyone was borrowing out of their eyeballs to reap a short term profit three years ago. As Americans, is that our first response, ease the problem now without regard to the long term consequences? If they do talk about the long term, it always seems to be talking about a fearful future. I'm pretty sure almost every decision I make out of fear is a back one.

Secondly, where are the other options being talked about? All I hear is borrow more money. I'm a big Dave Ramsey guy and the other day on his show he actually talked about another options that makes sense. He talks about it here but it only requires extending FHA insurance to sub-primes and changing the an accounting regulation. It seems like a better option but why didn't I hear this mention on the nightly news? Why must borrowing be the only way?

It is hard to tell if government is a reflection of who we are or simply the people we are inadvertently modeling our lives after. I believe leaders have to set the example since more things are caught rather than taught. Then upon seeing on Tim Stevens' blog about Joe Biden only giving away 1/4 of 1% of income kinda upset me too.

As he says:
Charitable giving speaks to your belief in people. It reflects your heart and whether you truly want to help people who are less fortunate. Lack of giving reveals a selfishness and self-sufficiency. It says, "Screw the world, they are on their own." As a politician, it speaks loudly that your confidence is in big government and not in the American people. And, for someone running for political office who knows his tax returns will be made public, it shows a lack of political astuteness at best (and sheer stupidity at worst) to not think this will make a difference.

I'm not saying Biden needs to be a Christian and give money to a Baptist church to be vice president. But couldn't he find any cause to believe in? Perhaps finding a cure for cancer, helping people with the AIDS epidemic or giving money to help unwed mothers. Surely there is some cause in the world worthy of his support? Nope. (HT to Leading Smart)

It is sad to see the leaders in this country so far off the mark.

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