What is with our economy? I certainly don’t understand what the answer is as economists might explain. However, I believe the pattern of spending without a foundation has led to the present crisis of a national debt out of control. The oxymoronic part is the caution to families against allowing debt to exceed income; and the government is the biggest offender.
The income tax measure of decades ago was supposed to be a temporary fix and now it has become a maze of intricate loopholes and traps for the American citizen and corporations. As consumers we have created an economic crisis. The simple life can’t exist in this fast paced society. There is covetousness of other’s possessions to keep up with modernism and ease of life.
What will increasing the spending limit and taxes accomplish to solve the predicament? Printing more money will not offset product and purchasing power. There is only so much resource available.
The slump in the housing market is a definite indicator of failure to recognize the wrong road taken. Real estate was the easy target. There is only so much land and so much purchasing power.
If we insist upon having the latest gadgets without considering affordability then we will continue down the path of economic destruction. Soon we will be prey to the profiteers, i.e. banks, investors, continue to take advantage of vulnerable and uneducated populace. Ultimately we will have to acknowledge that the “chickens will come home to roost.”
Our government bureaucracy must be reduced in size and cost at all levels. Citizens must know the impact this reduction will have on their entitlements and privileges. It is really time to assess a direction of recovery with sacrifices by all. The wealthy should no longer be able to buy their way into political office. Fair an equal campaign should be waged addressing critical issues of the constituents they represent and then truly represent. We have had enough of the “pork barreling” ruse.
The improvement of credit scores through scams and ease of access of internet is not a deterrent to what road we are traveling. Tracking scores is big brother watching you!
The average “Joe” must step up to the plate and take action. Use of the pen and the vote will have to be loud and clear if true change occurs. Now that S&P has lowered our credit rating to AA+ who knows what will go down. Is it a recession or depression?
