The rumors swirling around Washington DC is that the current administration, in order to win votes this fall, will rollout a program where if you owe more debt on your home than it is worth that you can get government money to make up the difference.
As everyone knows, if the government borrows money we all are on the hook for it.
So, if you have been wise and saved money, lived within your means, and purchased what you can afford and are not in financial difficulty. You will now share the burden of those who spent more than they earned, borrowed too much, and ultimately got in trouble.
We should not burden those who have done the right thing. In the old days if you walked away from your burden of debt you went to debtors prison.
We should be rewarding the responsible people with tax cuts or credit and do nothing for those in trouble.
We have the bankrupcy process for those who made unwise financial decisions.
It was not the evil banks who made everyone borrow beyond what they could pay.
When you borrow money with no intention of paying it back it should be a crime.
If you steal money from someone it is called theft. If you borrow from someone with
no intention of paying them back. It is theft still the same.
Our system is based on law and order. When we encourage dishonesty and lawlessness then
we are well on the road to anarchy. The welfare state mentality hoist upon the nation as a whole
is not a strategy for success. It is a recepe for failure. We only have to look as far as
our inner cities to see the result of generations of government handouts.
The best any of us can do is pay our bills and live with integrity. Live within our means
and heaven forbid maybe we cannot buy that big screen TV the moment we would like.
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