In one of the few areas of agreement in last night’s debate, the presidential candidates both expressed support for the 700 billion dollar bailout package being debated in congress. I am fully aware that the failure to enact this bailout could have dire consequences for our economy, but there is a moral issue that must be considered.
For decades we as Americans have enjoyed unprecedented prosperity. Never in the history of the world have people enjoyed a standard of living as high as here in America. Even the citizens of modern, developed nations in Europe do not have it nearly as good as we do. To the vast majority of the world, even America’s poor are rich. To see how really good we have it, pay a visit to www.globalrichlist.com to see how your salary compares with the rest of the world.
Yet we have mismanaged our wealth so badly that we are already passing enormous amounts of debt to our children and grandchildren. And it is not just a government problem. Even the middle class has been duped into believing that it’s OK to live paycheck to paycheck, drowning in debt, and then when the slightest economic hiccup breaks their budget they look to the government for help. The government, of course, is looking to our children and grandchildren for help.
The bill for our extravagant living has come due. The price tag is so high that the government is looking to, once again, dump the burden on our descendants. As desirable as this bailout bill may seem, it is the morally wrong thing to do. It’s time for our generation to “suck it up” and take our punishment. Yes, it could be painful, possibly as bad as the Great Depression, but Americans will get through this with the help of each other. Hopefully it will cause us to again place our trust in God instead of earthly riches.
Regardless of what may be in store, the days of passing the buck should be brought to an end.