SOUNDOFF: Post your comments There were moments this week when some thought that the federal government could not rise to the challenge. But thanks to the hard work of members of both parties, in both houses, and the spirit of cooperation between Capitol Hill and my administration, we completed this bill in a timely manner.
So claimed President Bush recently in remarks delivered from the Rose Garden. Where did the president willing to deal with the tough times go?
Rather than weathering the storm, our supposedly conservative president nailed taxpayers down to paying a truly colossal price for others mistakes. Somehow, he is infatuated with the idea that the federal government can swoop in and save the day that they can rise to the challenge. Which challenge is that, exactly? Assuring that the politicians who use said government as a slop trough for their piggish behavior receive even more at the expense of the taxpayers? This $700 billion bailout goes beyond being the largest single socialist expenditure of our supposedly capitalistic nation. It is moreover a vehicle for pork (almost $100 billion worth), has expanded the already mind-bogglingly enormous size of our government, and further reinforced the erroneous notion that actions lack consequences.
Just as it is not their duty to attempt to fix the current market issues, it is not the governments fault, either. No matter what McCain, Obama, or their respective camps may claim about the other side, neither Republicans nor Democrats are to blame for the situation. Granted, the taxes they rip out of the paychecks of working families could have gone a long way toward helping those families that are in trouble to meet their obligations to their mortgage holders. But that money, absent from their paychecks, will now go toward solving the problem they created for themselves anyway. Individual accountability. . . government-style.
The problem is that those of us who truly are accountable, responsible and who did not buy houses with mortgages beyond our means now have to help the people who did not exercise such good judgment. They will in all likelihood get to keep homes they cannot afford thanks to the hard work of others. Isnt communism great? I think Ill go out this weekend and buy myself a million-dollar home and mail the payment book to the White House. Why not? I certainly cannot afford such a home but since Washington has, for all intents and purposes, told me I dont have to be responsible for my own actions, then I might as well take advantage of this opportunity. They are clearly in the business, as all indications over the last month suggest, of dealing with other peoples irresponsible actions.
Not that we should allow the predatory lenders to get off the hook. But the world is full of predators and ultimately the responsibility of protecting yourself from the schemes of others is to exercise good judgment, or learn from the times you didnt. In other words, you are responsible for yourself. Government never has solved any of your personal problems and it never will. It can defend you from terrorism, protect you from criminals, and help enforce fair and balanced laws based on moral principles. But you have to have a job unless government steals from somebody else and gives to you. You have to plan for your own retirement unless government steals from somebody else and gives to you. You have to take advantage of educational opportunities to improve your standard of living unless government steals from somebody else and gives to you. You have to be financially responsible unless government steals from somebody else and gives to you.
And stealing is exactly what the government is doing to fund the bailout. The amount a person pays in taxes depends on a variety of factors so the following example is not an actual assessment of a single Americans tax burden to fund this rescue scheme. But it nevertheless gives one an idea of the magnitude of the cost.
There are approximately 150 million people in the U.S. workforce. If divided equally among them, each employed American would be responsible for over $4,500 to cover their portion of the bill. I have enough trouble paying my own bills and saving enough to retire comfortably without adding any additional burden.
So the government did not rise to the challenge, it merely shifted the challenge onto the backs of working Americans. While the politicians congratulate themselves from the Rose Garden to the halls of Congress, our leaders are likely even themselves to be unaware of the consequences of this decision.
This whole crisis should have been allowed to work itself out. Sure, people would suffer. But they will suffer anyway and it is better to be uncomfortable and free than at ease but caged. At least without government intrusion we can have the suffering without losing even more of our liberties to behemoth government.
After all, markets eventually correct themselves. But, of their own accord, governments never do.
Jeff OBryant is an amateur historian and holds two degrees, a bachelors in education and a bachelors with honors in history. He can be contacted at jeffobryant@catt.com or through his blog at rightnewsandviews.com. CLICK ON THESE LINKS
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