Everyone is searching for answers. What should happen now with the American economy? Overnight our mess has spread around the world as evidenced by unsettled stock markets in Asia and Europe.
I heard one economist last week who had a pessimistic outlook. He asked how we could expect our current crop of politicians to figure out the present and the future when they hadn't even understood the past that got us where we are.
Yesterday the House of Representatives rejected the bailout plan. Outrage from "Main Street" lead them. We are all repulsed by stories of CEOs with ridiculous compensation packages and short sighted goals of enriching themselves.
Greed from CEOs and greedy us who saved too little and spent and borrowed too much.
Jon and I survived a deep recession in the 70's when he lost his job and we had three young children. It taught us to live on one income. It taught us to save to buy something and only borrow for the big ticket items like houses and cars.
It is obvious something has to change. It is less obvious what that is. $700 bailout? Do nothing and get a free fall correction? One of our former Minnesota governors, Arne Carlson, was on the news last night giving his take of how to proceed. He is a fiscal conservative and accountant by education. He ran a tight ship as governor using the veto frequently to hold the reigns. His suggestion: Get the politicians out of this solution. They are worried about being re-elected. He liked the idea of a task force with NY Major Bloomberg, Warren Buffet and Mitt Romney sharing their expertise. At least they each have a track record of success. In my opinion, they are way ahead of that bunch in congress. The rest of us might call on the one with the real power and wisdom. As a nation, it might be advisable to stop trying to take "In God We Trust" off our currency. "In US we trust isn't working so well."
I heard one economist last week who had a pessimistic outlook. He asked how we could expect our current crop of politicians to figure out the present and the future when they hadn't even understood the past that got us where we are.
Yesterday the House of Representatives rejected the bailout plan. Outrage from "Main Street" lead them. We are all repulsed by stories of CEOs with ridiculous compensation packages and short sighted goals of enriching themselves.
Greed from CEOs and greedy us who saved too little and spent and borrowed too much.
Jon and I survived a deep recession in the 70's when he lost his job and we had three young children. It taught us to live on one income. It taught us to save to buy something and only borrow for the big ticket items like houses and cars.
It is obvious something has to change. It is less obvious what that is. $700 bailout? Do nothing and get a free fall correction? One of our former Minnesota governors, Arne Carlson, was on the news last night giving his take of how to proceed. He is a fiscal conservative and accountant by education. He ran a tight ship as governor using the veto frequently to hold the reigns. His suggestion: Get the politicians out of this solution. They are worried about being re-elected. He liked the idea of a task force with NY Major Bloomberg, Warren Buffet and Mitt Romney sharing their expertise. At least they each have a track record of success. In my opinion, they are way ahead of that bunch in congress. The rest of us might call on the one with the real power and wisdom. As a nation, it might be advisable to stop trying to take "In God We Trust" off our currency. "In US we trust isn't working so well."
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