The Housing Crisis
It is clear there is something fundamentally flawed with the structure of our economy. The greed of Wall Street and the ineptitude our finical institutions have brought us to the brink of collapse. This seems basically to be the fault of defaulted mortgages (and the amazing amount of times those mortgages were sold). Because of this we the taxpayers have to give up $700 billion dollars (borrowed for China and they our tax money will be fed back to pay them off. It is two horrible situations rolled into one). The reason that was given to get the nation’s backing was that without the bailout our economy would indeed collapse and all our savings, 401k’s, and social security would disappear. Most of us saw through this and called, emailed, faxed our thoughts/concerns to the senate and congress only to be ignored. But it doesn’t seem to stop there. There has been talk about a bailout for people who cannot afford their mortgages or a ‘renegotiation of terms’. I have nothing against people owning homes (the “American Dream”), but I do have a problem when my tax money is going to bailout those too stupid to understand what they are getting themselves into, or who refuse to live with in their means. This is not my fault or problem and should not be a determent toward me.
I will admit I am angry and bitter at this. A few years ago I was out of work for less then a month and was denied unemployment. The sum I was entitled to was around $500, and did not get for what basically comes down to a technicality. I was angry for a while. This did not sink me, but it annoyed me. This was something I had been paying into. This was supposed to be a safety net when we fall on hard times. Since then I have known and interacted with people who use and abuse this system and others. Welfare mom’s with better cell phones then me, guys making more on unemployment then I am busting my ass at work.
These experiences have formed my opinion that these programs need to be examined and structured better. It has also led me to the belief that our economy’s structure should not allow the banks to stretch themselves so far with bad loans that they cannot keep themselves afloat. I understand the need to bailout the banks and, to a degree, the bad mortgages. But this should not negatively affect me. A home owner with a crappy cell phone, who has gone long stretches without cable, who have not been on a vacation in eight years, who have never been late on a mortgage payment and who have had money to help his family when needed. Someone who have tried his best to relay on himself. The onetime I asked for help I was denied. That is fine. But why is it fair when there are others who are allowed to abuse the system? Why is it fair when others who over extend themselves to the point of losing their homes are bailed out by my tax money?
I want universal health care. I want college scholarships for our youths. I am more then willing to pay my taxes. I understand why they are necessary. I just wish there would be leadership that would step up and create a structure that benefits me, not mock me for trusting them.
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