It's not in our heads

You're right AC. We should whine and whimper until the federal government solves our problems. Let's elect more people who will reward our whining and whimpering. Woe is me, I'm suffering so bad. I need all of my problems solved for me. Where's my help? I have rights, too.

Yes, let's do like patriciathomas and laugh at those who are in foreclosure, who have lost their job, and who cannot afford their children's education. Or better yet, yet's have a laugh-in at all the senior citizens who can't pay their utlity bills. These Seniors are just losers and whiners. patriciathomas is a dying voice, so she tries to be increasingly dramatic. If she looks at this years election she'll understand no one's listening to her fringe ideas.

As long as we live in a capitalistic system, it would be best for everyone to learn how to work, save and not depend on the government. What got the banks in trouble was the government telling them to make loans to people who had no business getting a loan. If you want to make the banks sound take away all government guarantees and at the same time don't force them to make loans that are unsound business practices.

Here's the scary part. McCain has stated that no one is more respected on ecomonics than Phil Gramm. Gramm has been one of McCain's top choices for Treasury Secretary should he be elected President.

This editorial should have been in last Sunday's paper. But, better late than never. Grahm certainly has been a top adviser to McSame and apparently W too since both of them say their economic policies will largely have "psychological" effects. The rich will get richer but everyone in the country will be happy as a result.

Former Sen. Gramm is correct. Many Americans DO suffer needlessly from Mental Recession, when help is so readily available. Simply visit a grocery store and select a loaf of bread that doesn't have the taste and texture of recycled textiles; take the bread to the checkout and have it scanned. You will discover that the bread you've been splurging on at $1.79 a loaf now costs $3.00. This might not CURE Mental Recession immediately, but it is a good, cheap way to get diagnosed for it.

What about the Enron employees who did not try to rely on the government, but worked and tried to save and invest in the company they worked for? What about people like them? There. That is proof that sometimes people that work hard get screwed and need help.

(07-17) 04:00 PDT Washington - -- As the Bush administration proposes backstopping mortgage giants Fannie Mae and Freddie Mac with a $300 billion line of credit and Congress contemplates another economic stimulus, the question is who will bail out the government?

"People seem to think the government has money," said former U.S. Comptroller General David Walker. "The government doesn't have any money."

A rare consensus has developed across the political spectrum that the government's own fiscal affairs are precarious, with an astonishing $53 trillion in long-term liabilities, according to the Government Accountability Office.

To put that number in human terms, the debt has reached $455,000 per U.S. household. As that debt grows, the United States increasingly relies on foreigners, including China and Middle East oil producers, for financing.

"The factors that contributed to our mortgage-based subprime crisis exist with regard to our federal government's finances," said Walker, now head of the Peter G. Peterson Foundation, a group established to raise alarms about the nation's budget. "The difference is that the magnitude of the federal government's financial situation is at least 25 times greater."

The Augusta Chronicle is finally telling the truth.
Maybe because business is off.

Do people know that the Chronicle is experiencing financial difficulty too?

God forbid that PT loses her job at the AC!

ShivASS, why are ther so many home forclosures? Could it bee that those are the ones who bought more than they could pay for? I admit, some mortgage companies were not ethical and should not be bailed out by the government but not all or most. The government was the one who forbankers/mortgage companies to lower their standards so they could be more "diverse" (sick of that term) in their loans. Why can't some senior citizens pay for their necesities? Perhaps because they made poor choices in life like not getting a good education and working hard? I believe in helping those who really need it, but governemnt ain't the answer. As for Gramm, I am glad McCain debunked his comment publicly and should get rid of him from his campaign.

LaTwon, you are dead on target. Our government has spent itself into deep, deep red ink. I opposed the stimulus "rebates" that weren't rebates at all since those that didn't even file can get them. We are broke and printing more monoply money ain't helping. Osama's answer is more taxes on the rich and corps which will put us in a deeper recession and more lost jobs. McCain will be far more conservative and will control Congressional spending with vetos, especially pork barrel ear marks.

You go PT ! Tell it like the leftists libs hate to hear or read.

Since you claime the " leftist libs" are poor, unemployed and uneducated, how can they also be the ones in foreclosure? Remember they all live on public housing.

The redistribution of income to the non-productive was epitomized by the subprime loans. Take from the productive and give to the undeserving, unsecured, non-productive. The obvious happened.....default. No surprise, just business a usual for the redistribution of wealth left. Thanks lefties. Obama '08