Oct 15 2008
This is a very scary reality. George W. Bush wants to use his soon to be gone power to do a few more things with our money. By pumping this money into banks, sure…they might lend out money more freely again, but it will just add up to more people with more loans who cannot afford to keep up with the payments. The banks are not getting their money, as inflation is picking up faster than ever. in order to fix our economy and way of life, the problem needs to be fixed at the level of regulating the cost of consumer goods.
When somebody takes out a loan, they know that they owe the money, and if they don’t make their payments, it hurts their credit score. People want to pay their bills, the fact is that they can’t. We are consumers. We like to buy things to enrich our lives and make them better. However when certain costs rise and unexpected events happen, the money that we thought would be there is gone.
People want to be able to pay their bills, and if they can, then the banks will get their money too.
Food prices are up…Gas is up…Electric, Water, and heat are up. The basic things we need to maintain our current quality of living are going up in cost faster than our salaries can grow. A lot of people are taking on second jobs just to get by. Here’s an idea…Lower the tax on wages beyond a typical 40 hour work week. This way, those who spend their extra time trying to earn enough money can finally start to get ahead on thier own. Only a person who is self-motivated can get themselves out of debt and financial trouble. People do not naturally choose to work 60 hour+ a week, they do it so that they can pay their bills. So why not reward the hard working people of this country with a little tax relief for supporting our ecomony at a higher level?
If this bill passes, it will set up our next president for failure. Why not let the next president who will be around for the next 4 years(maybe 8 ) be the decision maker. It’s looking pretty good that Obama will claim office from this years election, and I would not like to see him get screwed over with 700 billion dollars more of a deficit from an unpopular predecessor on his way out.