A Lack of Confidence

Much of what is happening in the economy now is a function of the lack of confidence in the investing community and the American public at large. Throwing more money into the mix isn't going to do anything if confidence is not restored.

How do you restore confidence when your solution is to panic? That's what the proposed $825 billion rescue package is -- a panic response. MY response to more bailout funds is panic. I am fearful of what it will do to my children and grandchildren. They are the ones being asked to bail us out of the current economic situation. They are the ones who will pick up the bill.

The desire of the government seems to be to stimulate spending. Dollars flowing through the economy is important, however, my response will continue to be to pay off debt (of which I have little to start with) and to build savings. My kids will need something on which to survive. Since the greed-o-nomics of today is creating the problem, it falls on those of us who are able today, to set some aside for the survival of those who must face "the tomorrow" that is being created. I suspect there are others who think the same way. Result: pouring money into the economy through additional bailout funds will have little positive effect except to prop up failures.

The best way to restore confidence in the economy is not to send the message that the government wants more of your money; it is to send a message of fiscal responsibility. That is NOT what I'm hearing out of Washington -- past or present administration.