Bailing Out

Once again, I rant at the insanity of our elected officials. I'm on my soapbox about the quazillion dollar buyout that our tax dollars are going to have to cover to save the floundering credit and banking industry. The government wants to pump hundreds of billions of dollars into failing mortgage and insurance giants. This is a hard place to be in as a tax payer. I know that keeping our banking system secure and afloat is vital to the health and well being of this great nation. Should our system of credit and finance collapse we are all going to be hurting. We would all be hurting if the government had not bailed out the struggling airline industry after 9/11. Just as transportation infrastructure is essential to our USA being strong, the banking industry as equally and even more vital.

My problem with this forced bailout is this. We have no choice. The tax payers are one again footing the bill for poor regulation of yet another industry. Corporate greed and governmental complacency have created this situation.

It infuriates me that we are pumping money into companies that let borrowers buy homes that had horrible credit. Loans were handed out without verification of employment and some documents never even required in order for the borrower to get a couple hundred thousand bucks. Now these homes that were purchased are being foreclosed on because the borrower couldn't afford the house payments because they secured an ARM (adjustable rate mortgage) that they should have never been given to start with...so who pays? WE DO??? That's right...I'm sitting here trying to save up enough money to buy my own home and part of my paycheck is going into the tax system which in turn is being used by the government to bail out some dope who doesn't know what it means to be responsible with his/her money.

Thus lies the bigger issue of bailouts. The "system" of government in the last 60 years has created a generation of people that believe that they have no responsibilities of their own and if they get in trouble someone (i.e. the government) should bail them out. I have too many babies by too many daddies...the government will bail me out. I can't afford my mortgage payment...the government will bail me out. I spend all my money on drugs, alcohol, cigs, dvds, and whatever I want and now I don't have enough money to buy my groceries...oh wait, the government will bail me out. I build my house in an area 6 feet BELOW sea level and am surrounded by the gulf of mexico and the mississippi river and if it floods what will I do...blame the city and wait for the government to bail me out.

In a society where some moron successfully sues McDonalds because the coffee they bought spilled on their legs and burned them we should not be surprised that people aren't taking responsibilities for themselves. As long as week keep on doing what we've always been doing by bailing out everyone for everything we will never overcome this mindset.

Our society needs to grow up and take responsibility for themselves and their actions. If I never let Katie feel the consequences for bad actions or choices she's made, she would never learn how to do better. We have to stop allowing the government to cover every mistake and let people learn the hard way. I know that's not politically correct and won't win a lot of votes, but I'm tired of seeing my hard earned dollars wasted on the idiocracy of our government and frivolous and careless Americans.