Brother, Can You Spare a Dime?
Welfare was once considered the dole for those considered too unskilled, uneducated or dysfunctional to function in the norms of society. Years ago, Ronald Reagan attacked the supposed “Cadillac driving” welfare recipient who lived on steak, received a monthly check and watched soap operas all day. The reality was and still is that the government has made it a practice to hand out tax payer money to all segments of society – from farmers paid not to grow crops to automakers, airlines & all economic classes of people.
Over the last months as the housing market and financial sector have undergone a major melt done, the Federal government has decided to open its coffers to bale out Wall Street investment firms, banks, insurance companies or mortgage lenders that after enjoying an artificial bubble of obscene levels of profit for the last decade now face the reality of gravity and crashing to earth. This has been justified as necessary for the financial stability of the economy – perhaps true but that shows what kind of shape we are really in. It seems that Americans have grown used, when in an emergency to expect Uncle Sam to come to the rescue. This is corporate welfare on a grand scale with no financial or budgetary accountability by a government that is already running a huge deficit due to the administration’s foolhardy military adventurism. What happened to the all-wise market economy? This kind of “help” is addicting – it will not cure the patient of their dependency or instill responsibility (as any addictions counselor can tell you). They’ll be back for more – guaranteed.
Who is paying the bill? Every taxpayer in the country and the next generation. I say its time for a return to sanity about financial accountability and responsibility –even if it means some on Wall Street go “cold turkey” and lose their golden parachutes. We need true leaders who will return to the true function of government instead of big money bailouts.