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Bailout was needed; shows big problems

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POSTED: October 21, 2008 5:00 a.m.

Congress has passed a bill that we’re told was needed to save our economy. And it probably was, but taxpayers should still keep their eyes on several fundamental truths.
One of these truths is realizing the importance of this “rescue package.” Make no mistake our elected officials would not have proposed any plan unless it was absolutely necessary to prevent further serious erosion in our economy.
The United States government is making a serious and expensive gamble in an effort to literally save us from what could become a continuing spiral downward into financial meltdown.
A plan was inevitable because the dire situation required it. There were options in the details, but the bottom line was that action was needed before too much more damage was done.
Taxpayers should also keep their eyes on how the plan is implemented and sold to the American people. It started out as a “bailout” then became a “rescue package.” Next, look for the name to evolve even further into something like “immediate help for the financial disadvantaged.”
As you’ve probably noticed the only people being blamed for this financial fiasco are some unnamed movers and shakers who let greed get in the way of a more civilized way to make money. Of course we’re not told who these greedy people are, just that “they” caused it all and “they” will get their comeuppance down the road. To ease your pain we are also told that one day we may get some or all of the $850 billion back.  Once the economy improves this could happen, but that possibility should not let those responsible for managing our national economy off the hook.
As usual, there really is no accountability, but there should be. Were regulations and laws in place to prevent this flagrant greed? If not, why not? Were regulations and laws in place but not enforced? If not, why not? How did we get here and who dropped the ball? These are questions that citizens who are financing this “rescue package” have a right and responsibility to know.
As citizens and voters in a democratic society we deserve the elected officials we elect to office on the national, state and local level. But we as citizens are also responsible for asking the right questions and demanding a high level of competence and judgment in the people we hire to run our government. When we demand a higher standard of leadership from our elected leaders we will get it. We do that by being  educated voters.

 

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