Tuesday, September 30, 2008

Thoughts on the "Bailout"

Money bagI've been trying to collect my thoughts on the whole Wall Street "Bailout" / Economic Crisis that we find ourselves in. Like many, I am not thrilled at the prospect of spending billions of dollars to help corporations who may have acted irresponsibly.

Personally, I'm not a fan of the bailout, but it increasingly appears that action needs to be taken, and the cost of inaction continues to escalate.

When our country faces a serious threat, which it appears we do now, then we have an obligation to act to address that threat. Ignoring the threat will be no better than when President Bush ignored his Personal Daily Briefing (PDB) which said that "Osama bin Laden was determined to strike in the US" prior to 9-11.

While well intentioned people may disagree on the current bailout proposal, I would like to see those who oppose it present an alternative. Unfortunately, it appears that many of the House Republicans (and some House Democrats too) are not interested in solving the crisis or putting forth alternatives - only in protecting their own political interests.

I believe they want to force the Democratic majority to pass the bill and then criticize them afterwards. It's not a good approach to policy making, and it's not good leadership.

As for my opinion, I've been a long-term advocate that our government should take action that ensures a shared prosperity for all Americans - not just the wealthy, but not to the exclusion of the wealthy either.

The fact is "we all do better - when we all do better". As much as I don't like the thought of helping Wall Street, they are part of us "all" too and their hardship will cause others to suffer. People are losing their retirements and pensions as we speak, and we need to do something to protect our common wealth.

We all (Wall Street, labor, blue collar, white collar, no collar, etc.) do better - when we all (Wall Street, labor, blue collar, white collar, no collar, etc.) do better.

Congress needs to act quickly to do their best to help us ALL do better. Accordingly, if House Republicans including WV's Rep. Shelley Moore-Capito (who voted against the bailout) have a better approach, they need to share it sooner rather than later.

Instead, it appears that Capito and her colleagues are doing what's politically expedient. WV needs more than expediency. We need leadership.

1 comment:

Anonymous said...

Well said bro'.
Tom