| So, get ready for the next leg down; rising unemployment, soaring foreclosures, tumbling stock markets, and growing political unrest. Liquidate, liquidate, liquidate. The Bluedogs and Republican obstructionists are determined to drag the economy back into depression. Onward! Now Mike … I’m a blue dog if I’m anything. And … don’t go kicking me in the teeth before you ascertain whether we aren’t actually on the same side more times than not. You need me … and buddy … don’t I know I need you. To say that I am for fiscal responsibility isn’t a bad thing. In fact … I bet you’re for fiscal responsibility, too. You seem like a real nice fellow with a good head on his shoulders. And … to say that I’m for fiscal responsibility doesn’t mean I’m against all Government spending. I’ll have you know … I like snail darters. I’m even a semi-tree-hugging hippy from Fayetteville, Arkansas. I can’t think of anything more wasteful nor just plain stupid than wars of choice. At the same time … you better believe I’m for spending American tax payer money differently than it is currently being spent. We surely agree that the unemployed need to be helped. That’s costing us about $200 billion every year. OK. Let’s do it. No … it isn’t the social safety nets that I’ve got a problem with here. My problem is with all the money which is being spent on the Government bailout of financial institutions – directly and indirectly. The size of their bailouts dwarfs what you are talking about spending. You better believe I am 100% against them. Cash for clunkers. Come on. I didn’t have a clunker to trade in. I didn’t get any of that freebie and quite frankly I’m against it. But … in the spirit of giving … let’s go ahead with another one. Just don’t let Ben Bernanke buy another trillion dollars of bad notes at par from another financial institution I’m not in the market for a new home. I’m not for giving $8,000 to spend on buying people a new home. You can have that, too, though. Knock yourself out. Just don’t let TARP funds become political slush funds. Nobody wants a depression. And … I’m more than willing to talk about economic policy in its ugly detail. Just as soon as I know that the greatest transfer of wealth in history from you and me and our families and our communities to financial institutions is stopped. Enforce moral hazard on individuals, corporations, politicians and systems and the world will be a better place. ## |