I'm not the only one - part of the problem is that we were told "act quickly, or the opportunity will disappear!" by Paulson. It has the feel of a VERY high-pressure salesman, looking to get his hands on your cash, before you have the chance to think about it.
SC Conservative (just added to the blogroll) has a breakdown that gives voice to some of my feelings.
I'm not seeing activity that gives me the feeling that The Sky is Falling, The Sky is Falling - at least, not for real.
The major issue we have right now, in the greater Charlotte region is the lack of gas. We have been hard hit by the offline Galveston refineries - many stations limit customers to 10 gallons. With my husband and I having a daily commute to Charlotte of about 30 miles each way, it's been challenging. School activities have been limited for the duration of the shortage, if they involve the need for transportation.
Really, the argument for NOT funding a bailout is that:
Those of us who are ants really don't want to give the grasshoppers another excuse to NOT learn their lesson. Sometimes, it's the lessons that hurt the most that you need to learn.
I feel strongly that those who lived the high life need to get a wake-up call:
- You don't own your house if you had 100% financing
- You don't own your car if it's leased
- If you bought your possessions on credit, they AIN'T really YOURS
- and, most importantly, if you can't save each month because all your money is committed to paying creditors, you need to reduce your inflated standard of living.
Without cash. But, with new bills.
Some of these bankrupt people were making less than $60,000 a year from all sources. Yet, they bought homes 2 or 3 times as expensive as what I have - and my income is about twice theirs. It was a massive case of self-delusion, enabled by the very guys who now want protection from their credit-pushing actions.
I wouldn't mind setting up a fund that gives any foreclosed person a few months rent money. That would be charitable. But we don't OWE them anything.
Except our pity.