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The Sky is Falling? Don't Believe it.

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Saturday, 27 September 2008
Kudos to our House Republicans!

I have been glued to the news, that is when I'm not helping to run a company, home school my boys and keep a house.  This whole "bail out" issue has me seething.  I'm so disappointed, though not entirely surprised, that our President would get on national television and paint a doomsday picture in order to scare the public into supporting the Paulson Wall Street handout.

We absolutely must not bail these Wall Street companies out of this mess.  Let the free market work this out.  This is NOT a solution about "main street," it's like using a band-aid to repair a torn artery.  And what about Nancy Pelosi, Barney Frank and Chris Dodd leading the charge to solve this "crisis"?  Think FOX and HENHOUSE.

Here's the deal.  Even a work out program, such as the House Republicans are proposing, is bound to be painful.  But, you know, so will a bail-out band-aid.  Credit may dry up - maybe. As a small business owner I can tell you its been hard to get credit for quite some time even with a decent credit rating.

Since doing away with the gold standard, our country has been printing money backed by the goodwill of the American people and a strong GDP.  When McCain said the fundamentals of the economy were strong, everyone - including conservatives - called his statement a gaff.  Is it?  Isn't our American workforce - the industry and ingenuity of our people - isn't that the most fundamental of economic fundamentals?  Our people are both strong and resilient.  Aren't we?

Sadly, due to governmental regulations and taxes on business, industries are taking their manufacturing operations overseas.  Good-bye, good jobs.

The American people, including yours truly, have been asleep - blissfully ignorant.  At the root of the market collapse is our willingness to live on credit.  This is not only a problem rooted in top-down Wall Street greed, but also bottom-up irresponsible spending by the general public .  We've got to get back to "pay as you go" living, even if that means putting off major purchases and luxuries.

Will this change the economy.  Oh, yeah.  It will be rough.  We may lose our business, you may lose your job.  However, we have GOT to set an example of pragmatism and accountability for our children and their children.

We've got to get America back.

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