Tag Archives: bailouts

The Recession Will Make "U.S." Stronger

Poor President Obama. He’s inherited a political and economic nightmare. Today he did his best to reassure America that our current struggles will make us stronger in the long run, all while making sure not to get our hopes up.

Reuters reports that “the politician whose memoir was called “The Audacity of Hope” and who won the White House in last November’s election amid chants of “yes, we can” was also back in stride, telling recession-weary Americans they can expect better days ahead.”

I can’t say I have that much faith in the U.S. economy. While we have recovered from various recessions and even a “great depression” in the past, what has pulled us out of those downturns cannot be replicated. It’s looking like what we really need to get us out of this mess is World War III – and that’s not something I’m going to hope for.

Everyone predicts that some day the market will recover. It always seems to. But this time – are things different? Are we in a perfect storm that we can’t see? Are we putting a trillion dollar band-aid on a wound that needs to air out in order to heal?

What do you think?

The Housing Bailout: It’s unfair, it’s necessary, it’s ridiculous

They say a housing bailout is necessary. For all the people who purchased homes they couldn’t afford at to-good-to-be-true rates, here’s your bailout. I’m generally a liberal but this is going too far.

The problem stems from how the American dream is so closely linked to owning a house. If you can’t afford a house – don’t buy one. Renting is not the end of the world. It’s a lot cheaper. Wait until you can afford a reasonable 30-year fixed mortgage to buy a house. That’s what I plan to do.

Of course, given that the government is going to bail everyone out who can’t afford their poor choices, it seems I may have been better off buying a condo years ago. I could be facing foreclosure now, with my home underwater. I could be begging the government to bail me out.

I understand that when you have children the situation changes a bit. You want stability, a house that you’ll own, and not have to worry about moving if your landlord decides to kick you out. Ok, I get it. I feel for you if that’s the situation you’re in. But I still think that when it comes down to it, Americans need to be responsible for their own actions.

God, I sound like a Republican.