More Bad Economic News

Tonight’s nightly news is full of bad economic news…layoffs, across the country state budget cuts for healthcare and other services, a drop in the stock market.

We were told that the big bailout was necessary to prevent the drying up of credit…yet the credit well is running dry anyway.

One sheriff in Chicago is refusing to evict people because he can’t tell if the folks are renters or homeowners. Good for him!

I don’t trust any of the politicians. There are plenty of solid good ideas being floated on talk shows and blogs..but will they be used? That would be too easy and would not appease the special interests who have the funds to lobby Congress.

I like the idea of dropping the interest rates on the mortgages if that will keep people in their homes. “Don’t throw the baby out with the bathwater.” The mortgage fat cats should have done this already!

If someone has been paying their mortgage faithfully for 10 years, then suddenly they’ve lost their job…work out a plan to give them a financial break of some kind to get them through some tough times. Anything less is like theft.

I hear that the government may have to cut back on student aid. Ouch…that will hurt. But we may have to pick and choose what we can do now and what may have to wait until later. We need a big picture plan. It’s just like your own family budget.  Our government needs to set some priorities, and some budget items may have to wait. Not a great proposition, but what happens if no changes are made?

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