Over two weeks ago, congressional leaders and the Bush Administration came forward telling America that we were in a financial crisis. Lehman Brothers investment bank failed, AIG insurers failed and was bailed out and Freddie Mac and Fannie Mae failed. We were told that the government had to do something very quickly or the worldwide economy would crash. So leaders got together and very quickly put forward a bill and quickly passed that bill…Oh wait, that’s not how it went, is it? What in the hell are we suppose to believe here? Would someone just tell us the truth for a change without the political partisanship or considerations of polls and future campaign runs? I frankly, have come to the conclusion that an economic collapse is not imminent and one of the reasons I was against the rescue bill. We’re over two weeks into this thing and despite a record point drop at the Stock Market yesterday, the DOW is up today. I myself was able to finance an $8,000 car loan with no problem. And despite the warnings and belly aching, Congress has gone home for a couple of days in observance of a holiday that most of America does not observe. I actually did not know until this week that Congress observed Jewish holidays. So much for that seperation of church and state thing that liberals are always crying about. If the economy is going to crash then I am quite surprised to see that Congress is obviously not that concerned, the presidential candidates continue their campaigns so they are not concerned and all the rest of the government is doing is offering speeches. So is the sky really falling?
A little earlier, I listened to Obama claim that he had put forward some ideas to help get the bill passed before the final bill came to a vote (didn’t work did it?) and he is now offering new ideas to get a new bill passed. McCain also spoke this morning saying much of the same. Both men were in total support of this bill and still putting out the same warning as the rest of the government that we need something fast. They both gave the President the new idea to raise the FDIC cap from $100,000 to $ 250,000. Obama claimed that “raising the limit to $250,000 would boost small businesses, make our banking system more secure and help restore public confidence in our financial system.” I’m not a banker, but what the hell difference is this going to make in the long run? I already don’t believe that the FDIC can do what it promises anyway. If we all go ask for our money tomorrow, which for many of us is below $100,000, the FDIC would not be able to pay up because the truth that the government won’t tell us is that there is not enough paper money to cover that. We’d all get a bunch of IOUs just like what most of us who are younger will find when we go to retrieve our Social Security.
There are things that can be done that would restore the economy. It would be a bit painful at first, but we could come back better then ever. First, get the damn government out of this. All they ever do is screw things up – that’s both parties. Next, get rid of the income tax which takes a huge burden off small business and taxpayers. Get rid of capital gain taxes to get people investing again. Lower corporate taxes so companies want to start here, stay here, come back here or move here. Start a 1% consumption tax on all purchased goods except food, regardless if new or used and offer tax credits to the poor if this is a burden to them. Cut all unnecessary programs that waste money. Get rid of most of the regulations in the free market and let businesses run themselves. The only regulations needed are those that protect the public wellbeing, but regulations that push lenders to lend to everybody is what got us into this mess so there are many harmful regulations we can toss out. Get rid of the Federal Reserve altogether and start backing dollars with something of value or multiple somethings of value like precious metals and natural resources. Start drilling here and now and getting other energy opportunities going – NOW! Then the American people must stand together and vote out all these incumbants that have hurt the country rather than help it. If you have corruption in your past anywhere, you are gone. If you have voted for earmarks, you are gone – if a politician needed something for their state they should have put forward a seperate bill, not hidden it in other legislation. If you have catered to special interest groups and lobbyists instead of your constituents, you are gone. If you have put forward any bill or voted for any bill that is unconstitutional, you are gone. And finally, my personal favorite, if you’ve gotten bad plastic surgery, you are gone. We could clean out the halls of Congress and start fresh.
I know this is a pipe dream, but America can be so much more than it is now. Now we are becoming a wasteland of missed opportunities, botched opportunities, partisan rancor and foiled dreams. We need great leadership and it is nowhere to be found. In a time of great need and “crisis” nobody has stepped forward as a leader in our government. But what I have seen are some people down here on the street from all different backgrounds putting forward some great ideas. We joined together to defeat something we don’t believe in. We have the power to lead ourselves when our leaders will not or can not. Remember that in November and in future elections. Get involved and maybe one day the America we can be, will come forward.