Being a grandfather, I’m very concerned with what Washington is doing to my grandchildren by throwing money at our problems.
Now they are taking on health care, which does need work. But what will be the cost of this change?
Dollars didn’t solve our problems before and they probably won’t work this time. But who’s interested in history?
We were living the good life.
Credit was loose. The stock market was going up and home prices were escalating.
Banks were lending money like it was going out of style.
It was nothing to get a mortgage for more than your home was worth.
Banks would make the appraisal work. Appreciation, I believe, is what it was called.
Well, the bubble burst. Now Washington is trying to correct all the problems by throwing dollars at them.
Dig, Dig, Dig into Debt
I hope it works. But what about the consequences?
My grandchildren are going to be saddled with a debt they hopefully will be able to pay the interest on.
However, who’s going to handle the principal?
Will today’s children be able to afford to get the skills necessary to compete in the more competitive world that will exist when they enter the job market?
Funding for colleges and college aid programs are being cut.
This will mean that students’ will accumulate even more personal debt to pay for their schooling.
All of this will be in addition to the tab they will inherit to cover what’s going on in Washington today.
If Washington is going to be shelling out the bucks, shouldn’t they, at least, be providing big dollars for education?
We’re talking about the future leaders of our country.
Unless the promised change comes soon, the United States will be owned by a foreign power, if it isn’t already.
One only needs to look at the fall of the Roman Empire to see the similarities of events.
Our President promised us change. But what I see are old ideas that didn’t work before, just being reworked again by the same old Washington politicians. The only difference is, a new person is in charge.
Maybe Washington is too busy running the car companies, banks and insurance companies to usher in real change, job growth with low inflation.
If things continue as they are going, we will need a wheelbarrow to take whatever loose change we might be able to find to the grocery in hopes of purchasing a loaf of bread.
Mr. Hennessey may be contacted at pmhenn@sbcglobal.net
