Followers

9.25.2008

I've Seen Enough

Last night was President Bush's big ole address about the state of the economy. Standing in front of what I thought was a backdrop from Saturday Night Live, he went into what would have been a comic, if it wasn't so terrifying, 12-minute speech regarding our deteriorating economic system. He discussed what brought us to the edge of the cliff, and how he intends to rope us back in like the cowboy he wishes he was. And boy oh boy, do I feel safer!

Bush painted a scary picture: job loss, businesses closing, even more foreclosures. The housing crisis did us in, according to him. And that is why we need to save institutions like Fannie Mae and Freddie Mac. Help the big guys out, in order to help the little guys, right? It's that good ole trickle-down economic theory, or at least a variation on it. Hmmmm, yes, it only makes sense that by keeping the multi bazillionaires from going out of business, we everyday folk will have such easier lives.

But let's look at the actual foundations of this problem. Not the housing crisis, maybe in a roundabout way. Look, people, the problem is the debt. National, personal, it's all over the place! Our country is so in debt right now, due to the Kazillion Dollar War we're fighting you-know-where. Not to mention that's all on credit cards, meaning we're racking up quite a bit of interest on top of the astronomical cost of toppling a dictator and ensuring we'll leave the country in shambles. It's as if Americans have taken that as their role model -- racking up debt like it's 1928. Loans on top of loans on top of mortgages on top of credit cards. All of it with companies unchecked by the government, allowed to charge interest and fees as they like in order to pay for the bonuses and salaries of their CEOs.

It's time politicians buck up. Go ahead -- point the finger at the American people. Not just those who lost all common sense and went on the vacations they couldn't afford. Not just those who take out more loans than they could ever pay back. But those who exploited the situation. Those who thought, "Yes, we'll take your money. Jack up the interest!" Everyone is at fault here, and we need to know that.

So, Mr. President, here's the question. What institution is more important to save? Is it really the financial institutions, or is the American people? How about instead of throwing $300 at us you actually do something that will really help us? Set up some serious regulations against this happening again. Regulate interest rates on loans -- they are through the roof! I'm tired of this trickle-down attitude. Remember how in February you said a recession wasn't coming? It's just a slow down, you said! Yes. A recession. Right? Well, it's here. And it's big. So are you going to use this as an opportunity to help bridge the huge gap between rich and poor -- currently the largest since the Great Depression -- or are you going to bulster corporate America and keep the vicious circle of exploitation goin'?

At least McCain is on his way to Washington to save the day. . . Oh boy. Time to start keeping your money in a mason jar under a floorboard . . .

http://www.cnn.com/2008/POLITICS/09/24/bush.transcript/index.html#cnnSTCText

2 comments:

Anna Schaffer said...

bee, i wanted to let you know, that i love love love reading your blog. i crave political interaction, and i love that you're finally doing something about our futures, instead of assuming someone else will take care of it.
way to break the mold of social psychology.
at this point, however, i don't feel ready to participate in an active discussion with you quite yet.

i'll work on it.


anna

Phill said...

I find myself out of breath when I think about how hurried this all is. I understand it is dire, and I even understand that time is most certainly of the essence. BUT, jesus christ! This is more than just a huge situation, and as with most things Presidential lately, there is always some huge catch.

(ahem... research "Signing Statement" sometime. And David Addington too. A man after my own heart. ...with the intention of eating it while it's still beating, right in front of me.)

Anyway, I find myself tired of our leaders wiping their asses with the Magna Carta. As for bailing out the banks... I don't know. I see both sides, and in all honesty, I can even see bailing them out. I have the feeling that Americans will eventually pay off their mortgages (so long as they have places to work), and in that respect, the national debt we will inherit won't be solely paid with citizen's taxes (I hope I hope I hope).

I don't know... things like this are always so complicated on purpose, and before I even grasp what this all means in a large-scale sense, that large-scale will have arrived.

Now if you'll excuse me, I'm going to try to find a bucket to puke in.

My Zimbio
Top Stories