Obama and Congregational leaders Friday 1/23
According to economists and several news sources, companies are shedding an average of half a million jobs a month at this point. Even if companies aren’t in a financial crisis yet, most of their actions are now preemptive; they’re shedding more water weight than a model on the California Diet before a foto shoot. So my questions is this: if organizations’ first move right now is to dump employees and then freeze hiring, where does that leave the increasing unemployed workforce? More importantly, where does that leave us as a nation?
Two words that have not been uttered enough during the change in the White House are time and effort. This is what it will take for the US population to recover and push forward. A quick $500 tax credit by Barack Obama, on the other hand, is NOT the answer. Put more responsibility in our laps, the people. We don’t need large, failing companies to get bail-out money either. There are specific reasons why they did not make it through our “recession”: bad products and bad management = bankruptcy. Obama is, for the most part, a breath of fresh air in the White House. But this is one I hope does not pass our legislation.
We’ve enjoyed a society of plenitude and excess. Most countries are either jealous or get sick to their stomachs when they see the size of our cars and the holes in our pockets. How do we sustain such a cycle? We couldn’t and we can’t. Our bubble burst. Having five credit cards and $10,000 of debt is no longer funny nor should it be typical. It is disgusting and unforgivable.
What we are in dire need of, is a period of critical reflection on our current state of affairs. Should we spend as much money as we do on amenities such as square footage, size of car (yes, Hummers are the dumbest vehicle on the market), or online shopping– to name a few? House Republican Representitive John A. Boehner said it best: “At the end of the day, government can’t solve this problem. The American people have to solve it. And the way they can solve it is if we allow them to keep more of the money that they earn.”
I agree with you, Mr. Representative, I just hope that others can make the Change themselves, and not rely soley on the government.
I agree that individuals in our society need to reflect upon their spending habits. And this is certainly the time to do so. When you’ve just been laid off and have three kids, two cars, an enormous house, and $20,000 in credit card debt, you’re forced to rethink some things.
Or, are you?
The stimulus plans, bailouts, and tax credit schemes are taking focus away from personal responsibility during this economic crisis. Wall Street made poor decisions, but the economic toll on Americans is partially their fault.
Expansions and contractions in the economy are cyclical, meaning there are periods where the economy grows and more jobs are created and there are periods where the economy shrinks and unemployment increases.
Why doesn’t anyone prepare for these contractionary periods?
We’re spoiled. Americans want to have their cake and eat it too. The American savings rate is negative. We borrow more than we save. We spend more than we produce. When the economy goes south we have nothing to fall back on.
What do we do?
We start finger pointing. We look for a culprit. We expect the government to fix things. But, we should be pointing that finger at ourselves.
I just stopped by your blog and thought I would say hello. I like your site design. Looking forward to reading more down the road.
Disgusting and unforgivable? Pretty strong words for a young white male who has yet to deal w/ any real financial hardship or responsibility. You are entitled to your opinion, but what’s truly disgusting and unforgivable is the morally superior sitting on their privileged behinds judging everyone else.
Dear Jamie,
Yes, my skin is white. But, I am actually Guatemalan. This one of the poorest countries in the world. I was born and raised there, and that’s where most of my family still is. We grew up poor as well. Fortunately, we were able to immigrate to this country and get educations. As you know, that is a tough process financially and socially.
Unforgivable might be a strong word; you are right. But it is no reason to dismiss the fact that this society (which I now consider myself part of) breeds the need for instant gratification through the spending of money we don’t have: credit cards and loans.
The point of my article is less a criticism on Obama, or any specific government process. Rather, it is an observation that maybe we should be looking at and to ourselves for the answers, both as individuals and as a culture.
So, Jeremy with all due respect (you didn’t know my background), I do not consider myself part of any elite or privileged, financially or otherwise. I do consider myself a man who has seen more poverty, experienced it, and dealt with it than most.