jidd

This is a letter from a family member of mine, that will remain anonymous simply because it was a letter, and not a public posting (until now). These may not be common views I know, but they are still very much worth sharing in my opinion because… well… I share them, and the point of sharing them with others, is illustrated in this letter. So just read it thanks.

Dear Americans,

For a 29 year old, who has been taking care of himself since age 18, has a new car that is paid for, a college education that is paid for, and has never carried a credit card, the current economic situation the U.S. has found itself in is not surprising. The past two months I have seen a lot of finger pointing about who is at fault for the credit crisis. If the American people want to know who is to blame they need only to look in the mirror. What I am talking about is irresponsible spending and the greed by the American people to live above their means. Eating out three to four times a week, buying a new car every two to three years, rotating in a new wardrobe every year, and buying a new 2500 square foot home for two people, I could go on and on. However Wall Street is also to blame for this mess when they decided to exploit the American appetite for more than they need by providing them with easy credit and trying to make money off of that risky debt. One trillion dollars in new debt provided by the government will not fix this problem. Metaphorically speaking we can not use a credit card to pay our mortgage loan. As a nation we need to curb our greed and use a little bit of common sense. The American people need to substantially change their lifestyle, and our economic leaders need to be more strictly regulated.

Diagnosing the problem is easy, but solving it will be much more difficult. I do not claim to be an expert but at least I have some ideas that consist of more than putting a band aid over an amputation. The way I see it: desperate times call for drastic measures. If one can wage an ambiguous war against terrorism, then I say we need to declare war against fiscal irresponsibility. Like any other war, the people who fight the battles will suffer hardships and will have to come together in order to achieve victory. I personally have faith in the American people and believe we can once again overcome adversity and preserve our freedom and way of life.

To win the war we must first enact a tactical retreat. What I mean by this is we can not bail out those who have bit off more than they can chew economically, which is going to mean many people will lose their homes and property. But if we come together as one people and pool our resources this can be overcome. If a family member, good friend or neighbor loses their home, then invite them into your home to help out. Those who move in should not just freeload but contribute any way possible until they are able to stand on their own two feet. Those who lose their vehicles should try car pooling. As a way to cut down on healthcare and daycare costs, grandparents can help look after grandchildren when they are young, and children can help look after their parents when they are older.

The next thing the American people will need to do is tackle their debt and cure their addiction to spending. A Wall Street economist would say that the American consumer needs to spend money to maintain a healthy economy. However they don’t have to worry about losing their home, and overspending is what got us into this mess in the first place. In order to cut down on spending I think the government should do what they did during WWII and start rationing out resources until the economy turns around. Every person across the board should be given rations cards according to dependents and job description. This way everyone will share in the sacrifice equally.

The billions of dollars the government intends to use to bail out the financial system should be held back, and instead let the financial system reset itself. Let these behemoth institutions fail and those who have run them start looking for jobs like anyone else who has been fired for poor job performance. The runaway debt of America has over inflated not only home values but also the value of the dollar. In order to start repairing the damage to our economy the government should fix prices and interest rates at an affordable cost until our government can also repay its debt. Take the 700 billion dollars intended to save the faith in the all mighty dollar and re-invest it into something tangible like infrastructure, so that anyone who wants a job can have one. We need to reinvent the way our communities are organized so that our future economy can be competitive in a world with scarce resources. I suggest a new public transit system to connect the people with urban areas so they do not have to own a car, and put a stop to urban sprawl. Create new renewable and sustainable energy sources, and a recycling system that is practical and affordable. Reform tax breaks for those who have multi-family homes, and encourage new homes to be economically practical for those who live in them. These are just a few ideas from one individual, in order to truly fix the problem we need the entire nation thinking about ways to pay off their debt and get our economy back on track.

Paying our debt off is just a short term fix to our economy. The key to success in the long run comes down to social sustainability. A truly capitalistic economy is not sustainable due to the inherent flaw of over accumulation/under consumption, or to put it differently greed. However, through government regulation I have faith that the descendants of those who created the Constitution of the United States can create a system that will make our economy free, competitive, and innovative yet also sustainable at the same time. So I say that the first thing the next president should do is call a Congressional Convention in which no one would be allowed to leave until our elected leaders have agreed upon a way to make sure something like this will never happen again.

After reading this letter one might think the things that I have said are too idealistic and they would never work. Or they might say that the people of the United States would never be willing to help each other out, give up their luxuries, and temporarily give up their freedoms. For those who may say such things I would tell them to say that to those Americans who have been in combat and fought to protect this country. As for all of you fellow patriots who believe the United States is still the greatest country in the world to live in, I say let’s dig our heels in, prepare for the worst, and don’t give up any ground until we have declared victory over the greed and corruption that has put this great nation in danger.