We have allowed government to reach too far into our daily lives. This reach has extended to such a degree that many citizens of the United States of America feel a sense of entitlement to the american dream instead of a responsibility to make it happen.
The current economic crisis is a perfect example. The american dream has become, over the years, embodied in visions of large homes decorated with granite countertops, stainless steel appliances, surrounded by lush green parks in well planned out communities. This "dream" should be made available to all regardless of income, ethnicity and... ability to pay? That's exactly what happened as Fannie Mae and Freddie Mac loosened lending standards at the urging of certain members of congress, primarily during the Clinton administration and not curtailed during the Bush presidency, allowing those that could not pay to buy homes that they could not afford. This is a large factor that directly resulted in the housing"crisis" we see today. The same government that is supposed to "fix" the crisis is the same one that got us into it? Yep, that's what we're supposed to believe folks.
But can we really lay all the blame on politicians that we elect? Over the last few years US citizens everywhere became complacent rolling in the good times throwing common sense out the window. As equity grew so did the our mortgages. Where did it go? RV's, vacations , a second home, swimming pools, plasma TV's, bad investments, and the list goes on. We abandoned the tried and true common sense of saving for a down payment, buying a home and paying it off and jumped on the frenzied bandwagon of self deceipt and fanatical materialism. Did we really think this could go on forever? The credit boom cycle is busting and so are those that jumped on board.
So, what to do from here. Will we expect and let government provide what we have neglected to provide for ourselves? Nothing is free. For everything there is a price. The question is what is the price? We are in the midst of pivotal moments in the history of the United States of America.
More for your reading and viewing pleasure:
http://www.whiskeyandgunpowder.com/an-unsustainable-way-of-life/
http://www.whiskeyandgunpowder.com/the-power-to-tax-is-the-power-to-destroy/
http://www.youtube.com/watch?v=AdF5TQIv1fU&feature=related
