I have been thinking about this whole "bail out plan" that is in the works by the United States government and I have decided that I am going to go to D.C. with my hand out and ask for some help paying off my debt. You see, I have student loans that I do not want to pay on anymore. I am going to just stop paying them in hopes that the government's bail out plan will help me. I mean, it appears that others are going to D.C. presenting their financial woes and it appears it has been working because every day on the news we are hearing of a new business or sector that needs help from the bail out plan. In my defense, if I go under then it will affect SOOO many others: Brent, Fletcher, Fiona, our apartment complex, our mortgage, my family. I think it's a good defense - if the government doesn't bail me out, thousands will perish....


oh. Sorry. Back to reality.


I have been listening to all the statistics on this wonderful bail out plan that is in the works. First it was established to help Americans in mortgage crisis. Now that it has been approved, Paulson is flipping the switch and proposing we help the auto industry. Granted, GM, Ford and Chrysler employ over 240,000 people. That is a LOT of people and that is not even taking into consideration all of the other industries affected by the auto industry.

I have a good friend working for a very large tire company right here in Nashville. We were discussing that their business is doing extremely poor right now. I heard a representative (VP I think) from Ford on Good Morning America this morning. I've decided these guys are in the unrealistic fog that I was in when I started writing this post. This VP was trying to paint a rosy picture and brag that Ford is finally opening its first car manufacturing plant in the U.S. which is basically in response to Honda opening a plant right here in the ol' U.S of A. (Indiana to be exact). Seriously?

Ford is JUST now realizing that its MASSIVE gas guzzling SUV are not moving off the lots. That Americans are not buying Ford tanks. When asked about the million dollar signing bonuses handed out just last year to top level executives at Ford, the VP did not really have a great response. So you're telling me that less than 12 months after dolling out millions in bonuses, you're going to the government with your hands out asking for money to keep you afloat? Give me a break!

Think about where we were 1 year ago - gas prices were rising, economy was on the "down slope" - if you are smart enough to run a multi-million dollar business such as Ford, you cannot tell me you were not smart enough to plan for upcoming "rainy days" in our economy. My good friend started talking about the down slope of the economy about a year ago and he doesn't work for Ford. He's a "running beast" and probably one of the smartest people I know when it comes to the economy. Please TELL me that Ford has some "beasts" that could have made these same predictions? If not, please call my friend the beast, I'm sure he would do a MUCH better job forecasting the future of your company.

As with most "hot topics" it is difficult to determine which side of the fence you sit on when it comes to the bail out plan. The original plan was to help the failing mortgage business, but now efforts are being refocused to the automotive industry.
Which one is more deserving? Which one will help our economy?
I know that I have made a plethora of financial mistakes, but no one bailed me out. I struggled through the painful ordeal, but I came out on the other side making smarter, wiser decisions with my finances. In fact, I would probably add it to my list of "things I'm passionate about."

Why do we as Americans fall into the lies that society tells us that we have to paint a fake picture that everything is ok with our lives by buying stuff? I know so many people struggling, living pay check to pay check all because they got in over their head. (And no, this isn't a paid endorsement for Dave Ramsey.)
The fact that so many Americans are in foreclosure proves that something has to change. Should we be able to walk up with our hands out and ask for money to bail us out of our crisis? I personally do not think that is the answer.
Are you really a stronger person in the end if you have taken a hand out vs working through the hard ships? I believe it has been proven time and time again that those business and individuals that can make it through the financial hardships on their own, end up stronger than before their crisis.
In all actually, I do not know how the money for the bail out plan should be used. I know we have a problem in our economy. I know something has to be done, but at what point do we as Americans stand up and say NO we do not want our country digging deeper and deeper into debt, owing more money to other countries than ever imaginable.
What do you think? Why do you think that way?
I'll end this Hot Topic today with a verse for you to ponder...

"To those who use well what they are given, even more will be given, and they will have an abundance. But from those who do nothing, even what they have will be taken away."
Matthew 25:29