How Stupid Do They Think We Are?

First, the latest bailout was supposed to be $85 billion for AIG.  Then, Bush and Paulson proposed a whopper–the biggest corporate bailout in all history, rounded off to about $700 billion.  Now it’s come out that it’ll get bigger, maybe triple or quadruple in size, because Paulson now wants to add all of it.  He wants every defaulted mortgage, every bad student loan, all the credit card debt, defaulted auto loans, every bit of it–he wants it to be bought by the Fed.

I’m nauseated.

When I was a kid, my parents didn’t have a lot of money.  I didn’t have the cool clothes, the name-brand shoes, and my parents couldn’t afford to give me money to go out with my friends all the time.  I went through a phase, around fourth and fifth grades, where I started stealing.  A buck here, two there, didn’t matter to me–I got to do something I wanted to do at school (like buy my lunch) and I didn’t feel like such an outsider all the time.  Trouble was, I wasn’t the one working for that money.  I wasn’t paying the bills.  I had no concept of finances, and over time that dollar I stole every other day added up.  It didn’t take my parents long to figure out where the money was going, and I can tell you, once they caught me I didn’t steal money from them again. 

Today I look back on that and I understand why they were so upset.  I understand why money was tight, and that the money added up to a lot over time.  All I saw then was that if I did it, I wouldn’t be able to sit for a week.  Now I know that the thirty or so that built up over the space of three weeks would have paid our electric bill and put gas in my father’s car for nearly a month. 

I didn’t learn to be fiscally responsible until I was an adult and had to fend for myself.  The first time I went a week without eating because I’d spent too much money and was about to be short on rent, I learned a lesson.  I started learning to tell my friends, “sorry, I can’t go…I don’t have the money.”  I started learning to live within my means.

The majority of Americans don’t know how to do that.  As a fraud investigator, I see people with debts that are outrageous every single day.  I see people who are already in dire financial straits nearly have a mental breakdown when I tell them that their identity has been stolen by someone who has just racked up several thousands of dollars in bad debt, and we may never find them.  One of the reasons why this sort of thing is so popular is that we can’t live within our means; we don’t know how to do it.  We always want more.

The financial institutions that the federal government now want to bail out with OUR tax dollars have made a living capitalizing on that concept.  They’ve made off like bandits by trying to draw more people in, telling them, “hey, we don’t need a social security number or immigration papers!  Oh, you have a social, but you have bad credit?  We’ll give you credit anyway!  Come on in!”  And those who don’t know how to handle money have made off just as well by abandoning their debts and ignoring what they owe, each time moving on to another company that’s willing to give credit to someone who doesn’t deserve it.

It all started with the subprime mortgage industry meltdown.  Now it’s grown to unbelievable proportions.  I wonder…will the amount I’m still dutifully paying off on my Ford truck be included in this bailout?  Will I get a reward for working my ass off to be a good, contributing member of society? 

Nope.  I’m expected to pay for those who couldn’t manage their lives and finances.  My hard work is expected to pay for the ones who didn’t want to work hard.  This reeks of socialism.  It’s not the America I know.  How stupid do Bush, Paulson, and the other bailout-happy politicians think we are?

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6 thoughts on “How Stupid Do They Think We Are?

  1. Well, John McCain today offered to postpone the Friday debate and gave Obama the chance of putting it aside so they can work together on coming up with a solution. This is good because Democrats in the House are really trying to push through some crazy things with this Bill.

    Big government is what made all this happen with people who had bad credit getting loans for homes. People getting loans right after bankruptcies. People getting loans with no money down, etc. The government put in these initiatives to get Americans to owning homes – regardless of qualification.

    This; again, is another government program. That’s it. The government allowed this to happen, and now it’s time to pay the piper.

    And if we have to spend money, why not fund more credit counselors to offer their time to troubled consumers to teach them proper budgeting, ways to enjoy activities and hobbies that are light on the pocketbook, creative ways to have quality when you are forced to cutback.

    I have no problem giving the needy a fishing pole. But liberals want to continue handing out whales, and this time it is no different.

  2. First up I agree with you on all points.

    “I have no problem giving the needy a fishing pole. ”

    With regards to giving the needy a fishing poll:

    We are in America. The richest country on Earth. We are the freest country on Earth. We have all of this wealth and freedom.

    I am needy. You give me a fishing poll. You teach me how to use it. America can afford to give me a fishing poll and America can afford to teach me how to use it. So far, so good.

    But, I don’t want to fish. I want to sit on my backside and do nothing. I want you to fish for me. If you don’t fish for me, then I will go hungry. You are excellent at catching fish. You have a lot of fish. It won’t hurt you to give me some.

    Now what?

    If you ask me, my response to that is, if you have to choose between starving and fishing then you will fish. If you starve then I don’t care. It’s not my responsibility to catch your fish because you know how to fish and you have a poll to fish with. I don’t care if America has a lot of fish and some Americans have more fish than others.

  3. Personally, though not a financial or economic wizard, I’d like to hear Phil Graham on this.
    He, as much as said, declared us a nation of spoiled brats and our depression was self induced.
    Money; an abused substance.

  4. “Personally, though not a financial or economic wizard, I’d like to hear Phil Graham on this.
    He, as much as said, declared us a nation of spoiled brats and our depression was self induced.”

    He’s right. Our nation is crazy. Too many people want other people to suffer so they won’t have to suffer. Help me, hurt the other guy. Meanwhile, the other guy says, “Help me, hurt the other guy.”

    So the government says, ‘Let’s help everyone. We can’t afford to do this. But let’s help everyone.”

    Now we have $9 trillion dollars of debt and more in the making.

  5. “Big government is what made all this happen…”

    Yep. I’d love it if McCain upon taking office said, “The War on Poverty is over. I surrender.”

  6. The wood is screwed toegehtr (evenly spaced) with large 6” screws designed for joining landscaping timbers. The corners are then drilled using a long wood bit and 110v drill. Also drill three holes on long side and two holes on short evenly spaced. Hammer rebar into holes down into ground. You may want to trim rebar depending on length so it goes at least 2’ into ground below wood.

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