President Obama seems to be making strides everyday he is in office. Is our economy really recovering with the hundreds of billions that have spent? Have we been sold an economic recovery and manipulated by doom and gloom in the media?
We as Americans have endured more in the past few years than much experience in a lifetime. It is only a distant memory that many hard working Americans were living the American dream. Many people had great incomes from their jobs and small businesses. More people were able to buy homes since our economy was thriving at record pace. So many people remember watching their homes double and triple in value over the past 5 years.
It seemed like overnight millions of Americans watched as their homes rapidly decreased in value as their neighbors lost their jobs and foreclosure notices were posted. Suddenly that imaginary retirement fund we call equity evaporated almost overnight. Many people in all facets of the economy and all income levels start losing their jobs. The media blamed it on careless people who purchased luxury homes and expensive cars hey couldn’t afford. Sure there are people who live outside of their means when they are being told to buy larger overpriced homes and sold exotic loans that help you afford the unattainable. The truth is that average American could afford what they were sold when they had loans that were affordable and jobs that’s income were steadily rising. Fast forward to 2009 elections and doom and gloom sold papers.
As for many Americans their home is their single largest investment. We have been robbed of our wealth and sold pipe dreams by irresponsible developers, bankers and politicians. Suddenly our homes became large liabilities worth no more than that overpriced, crappy American automobile. Depreciation and inflation spread like wildfire into our investments and 401k retirement funds. The same people that sold us our American dreams traded and sold the paper backing our overpriced luxury homes called Collateralized Debt Obligation (CDO). These repackaged investment funds looked like triple aaa rated investment gold. We watched our investment portfolios on the rise alongside our home values. Americans felt rich many for the first time in their lives. Everything was going well. Then the house of cards fell. No longer were the banks able to peddle their disguised time bomb funds. Suddenly other countries wouldn’t finance our debt lifestyles.
We lost everything. One by one millions have lost their homes, jobs, retirement funds, and savings. We watched our dreams slip away stolen by the very people we trusted. We have lost our confidence and ability to take care of our families.
Now we have politicians selling more doom and gloom. Will the US be able to borrow our way out of this mess? Will jet setting executives keep plundering hundreds of millions of money we as tax payers cannot afford to lose? Are we placing our children in more debt? We are at a critical juncture in American history. Do we allow our government to finance private companies plunder what little we have left while high flying executives making millions retire in style? I ask that as Americans we pull together and keep an eye on our politicians. We keep an eye on the very so called leaders that got us into this mess borrow and give irresponsible executives money they are inevitably going to waste.
Keep an eye on the monthly ATM withdrawal our politicians are making. I ask for you to write to your Congressmen, Senators, and President. Ask them what is the real cost of this crisis? What are the alternatives? Our politicians are asking for more money every month with no accountability. Stand up and say, enough is enough! Check how our money is being spent at: http://www.recovery.gov/