Political Pensiveness...
I have decided I am angry.
Although on a purely logical and academic level, I understand the reasons for gov't bailout of certain companies, banks, and even those stupid people who signed on for mortgage debt they could not afford. Basically, having an economy based on free-flowing credit is not sustainable, and now we have to cushion our fall or else completely implode on impact. (how this is done effectively, and whether the right choices are being made to this end I am not here to debate)
Because I am a person who also carries debt around that I struggle to pay (read: student loans, car payment, medical bills from when I didn't have health insurance), I made a choice to not sign up for a mortgage until I had my current debt load in a manageable position. This didn't happen this year, so I have renewed my lease. I rent, and dutifully pay my rent every month. If I didn't, I would be evicted... and there would be no slack, leeway, or considerations made. Yet, those persons who didn't make the responsible choice, signed up for debt they couldn't afford, get to skip payments, and then have their payments re-negotiated and allowing them to keep their home. Basically they get rewarded for being stupid, and my chances of getting a mortgage pretty much dried up in the process.
Gee, are they going to then bail out those people who bought $50K vehicles, who now can't make their car payment... and let them keep their nice hummers and lexuses? This idea was floated around today on MSNBC (which is on CONSTANTLY at work), as the debate goes over whether the gov't should bail out GM and Ford. I don't see anyone stepping up to take over my car payments (then again, its made every month, on time).
How about those who default on their credit cards? Student loans? Are they going to get a handout too?
Those of us who actually are responsible about our debt, and what we owe, are getting screwed ladies and gentlemen. And for the record, this situation would be exactly the same, no matter who won the presidency.
Although on a purely logical and academic level, I understand the reasons for gov't bailout of certain companies, banks, and even those stupid people who signed on for mortgage debt they could not afford. Basically, having an economy based on free-flowing credit is not sustainable, and now we have to cushion our fall or else completely implode on impact. (how this is done effectively, and whether the right choices are being made to this end I am not here to debate)
Because I am a person who also carries debt around that I struggle to pay (read: student loans, car payment, medical bills from when I didn't have health insurance), I made a choice to not sign up for a mortgage until I had my current debt load in a manageable position. This didn't happen this year, so I have renewed my lease. I rent, and dutifully pay my rent every month. If I didn't, I would be evicted... and there would be no slack, leeway, or considerations made. Yet, those persons who didn't make the responsible choice, signed up for debt they couldn't afford, get to skip payments, and then have their payments re-negotiated and allowing them to keep their home. Basically they get rewarded for being stupid, and my chances of getting a mortgage pretty much dried up in the process.
Gee, are they going to then bail out those people who bought $50K vehicles, who now can't make their car payment... and let them keep their nice hummers and lexuses? This idea was floated around today on MSNBC (which is on CONSTANTLY at work), as the debate goes over whether the gov't should bail out GM and Ford. I don't see anyone stepping up to take over my car payments (then again, its made every month, on time).
How about those who default on their credit cards? Student loans? Are they going to get a handout too?
Those of us who actually are responsible about our debt, and what we owe, are getting screwed ladies and gentlemen. And for the record, this situation would be exactly the same, no matter who won the presidency.