Don’t Say I didn’t tell you so…..
I feel as though I have been screaming into the wind. The panic is the economic environment of our country, seems fueled by those who cannot understand. The clear opposition to Congress passing a bill is apparent. Many are opposed to this bail out bill. I have read the entire bill, and will provide a link so you may also. There have been many rumors swimming around like sharks circling their prey.
After reading the bill, I do not see it is that bad. Let me explain, I work in the mortgage industry. It is not a Bail Out for the rich, it does provide relief for a lot of people who are in trouble, and they are not rich. Read the bill yourself and see. I have heard many say, “why should we bail them out?” Well, maybe a lot of Americans don’t understand just how bad things are. But I am sure, we will all find out soon.
Everyone is really concerned about the cost of the bailout, but I have to ask. Does anyone have a better idea? Karl Rove on fox last night suggested Mortgage Insurance. Sounds like a good idea? Well, yes but there is a lot more to it than that. That certainly would help the Banks, but how will it help the average American? The answer is simple, it would not.
The bill that was not passed, would at least given some relief to those most directly affected. It would have stopped renters from being thrown into the street, if the landlord did not pay the mortgage. It would have given home owners in trouble a change to re-finance or work out payment arrangements to stop foreclosures. It would also stop the banks from closing, and the market from crashing.
I am sure most of Americans are thinking, so what? It doesn’t affect me! Everyone rightly is very concerned about the cost to all of us. But the cost, of doing nothing could be more harmful than passing a bill. I am sure many believe we should not all pay for the mistakes of others. But, it is my belief that, we will all pay for doing nothing.
The thought that the Democrats could blame Bush for this it mess, is simply unbelievable. This mess has been going on, like a small snowball since 1978. If my memory services me right, President Carter was in Office. Now the snowball is a boulder.
In the past two years, since the Dems took over Congress, gas prices have doubles, the dollar is almost worthless, and the overall economy is real bad. So, to blame bush, is unbelievable. Now, we are all worried about our taxes being increased. But a year from now, if Congress does what it has been doing all along, which is nothing. Then we will understand the after effects, of that plan.
What most do not understand this would not be a bailout of Wall Street. It would be a bailout of Main Street. When banks close and credit freezes, sales drop. This leads to massive lay-offs.
So, it could affect you, here an example how:
Let’s say you work at Wal-Mart, and your husband is an electrician. Your teenage child works at McDonalds. Now, Congress does nothing and wall Street crashes, banks close, foreclosures sky rocket. This causes massive unemployment, so at Walmart, slow sales, cause lay offs. Now you have no job, then your husband gets laid off, cause credit is frozen, and no one can buy a house. Then last of all, slow sales at McDonalds, your teenager is laid off.
Now that no one in your family has a job, you can’t pay your mortgage, and you are soon homeless. So, I have to ask, should we pay a more tax, to save our selves? It the answer is no, then Don’t Say I didn’t tell you so…..