Debates, Bailouts, the Economy
I’ve got a few different things I would like to cover, and rather that doing so in three different posts I will try to concisely go over them here.
The Presidential Debate Friday:
I was unimpressed with McCain, but then I’ve never liked him, ever. Obama seemed to me to do a better job at making the points he wanted to make, regardless of the fact that I completely disagree with those points. One major thing that I noticed was that for whatever reason, Senator Obama was consistently inconsistent in what he called Senator McCain, ranging from Tom, to Jim, to Tim, everything but Senator McCain, he usually corrected himself, but didn’t even do this every time. I felt like McCain missed several opportunities to argue with the premise of some of Obama’s statements and points, but instead repeated arguments he’d already made that were unrelated to Obama’s point he was supposed to be rebutting. The main instance that got me really angry was when they were talking about “Paying for the bailout,” and Obama was talking about taking tax breaks away from company’s and people over a certain income (AKA Increasing Taxes). This was a perfect opportunity for McCain to state the fact that “Every time you increase taxes revenue actually goes down, and when you cut taxes federal revenues go up.” However, he failed miserably and repeated an earlier statement, a weak one at that, that had nothing to do with what they were talking about. While there was more to the debate, honestly this is the part that stuck out in my mind.
This bailout situation is frustrating to me for a few reasons. The first reason is that many on the left are taking this opportunity to say “Blah blah, this is why the free market doesn’t work, we’ve got to have more government involvement.” The real true fact that the American Public, which by the way is vastly under educated particularly in the areas of economics, needs to hear, but won’t, is that government involvement in the free market caused this mess. I have other posts on how, go read them to find out. The second reason is that the government, is now buying, with taxpayer money, loans that these companies hold as well as other “assets” the problem is that many of them are not necessarily good ones and will likely not give a good return on investment. If I’ve got to pay for the government to make an investment, they better make a good one. Finally, *if* the government does make money back on this investments, as they are claiming they will do, with the money that they have taken from me at gun point (if you don’t pay your taxes, they will show up with guns and arrest you) I would like to see some of those profits coming my direction. Knowing how government works that is not going to happen, they’ll find some way to spend it on vote buying (either earmarks or entitlement programs).
First off I would like to say that I’m glad I’m a tither and giver and therefore tied to God’s economy not the world’s economy. These times would be
much more worrisome to me without that. Secondly, stop filling up your gas tank when it gets below half a tank, this whole “gas shortage” will be remedied much quicker that way. (I know that we in the Triangle aren’t nearly as affected by this as Charlotte or Atlanta, but the point remains accurate) Thirdly, besides some of these problems being caused by government interference we the people are also to blame. Our country fell into a culture of debt over the last decade or two, and now we’re paying the price. Get yourselves out of debt now (as much said for myself as for anyone else) and start saving money. If the people of this country get out of a culture of debt, and back into a saving culture as we had in the fifties, and investment culture as we had in the 80s and 90s the economy will turn around. Finally, things will sort themselves out, they always do. Don’t worry, don’t freak out, the sky is not falling, investments are long term, not sure term everything will be okay in the end, especially if you’re a part of God’s economy (for those that may be reading this that are).