Posted by: dinainsuburbia | September 29, 2008

The Great Bail-Out… what do we all think?

So…. what do we think about the bail-out?  I’ve become slightly addicted to watching CNBC now- like rubber necking at the site of a car accident.  I am, like I assume most Americans, torn by what is going on.  Of course, with threats like, “this will be the Great Depression II” being passed around by various financial industry and government leaders, I want our Government to do whatever they can to stop the downward spiral.  At the same time, I’m not seeing all that much help going to the little guy that really needs it…

I can’t help and think, what is the answer?  At a very basic level this country has gotten out of hand with spending.  These days you don’t need cash for anything.. almost anything can be bought on credit.   What happens if you don’t have a regular visa or mastercard?  You can get a store line of credit.  Now, I know “they” are saying that lines of credit are drying up.  And while a disaster for businesses who need the credit to manage cash flow at times… I can only think this might be a good thing for the typical consumer.

While there are always emergencies (no one thinks using credit for a medical or safety emergency is bad), we shouldn’t be using credit to buy things that we don’t need!  What am I thinking about specifically?  Well flat screen TVs for one.  Or new furniture.  What ever happened to saving?  To putting money in a jelly jar until you had enough to buy something you wanted?  I guess the same can hold true for houses!  But I’m not going to go off on that… I’m sure there’s enough blogs out there about that!

I guess I’m just sort of annoyed because John and I did the right thing… we don’t own a house because we weren’t sure if we could afford it so we “threw our money away” into  rent in order to put more money aside in savings.  We don’t have the most fancy cars, electronics, or clothing because we pay for everything cash and don’t have credit card debt.  So, to think that we could possibly have to pay for this screw up should the plan not work out pisses me off to no end.  And I’m sure there are other Americans out there that feel the same way!

I just hope, whatever plan is passed, people who REALLY need the help get it to stay in their houses.  I think the governments plan needs to speak more specifically about that problem ASAP!

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