There's this Bugs Bunny cartoon where he finds himself in a safe house used by two gangsters. They're splitting the cash they stole. He tricks the gangsters into giving him all their stolen money, by changing his costume and voice and saying, "And me, boss?" And each time he does this, the gangster gives him a bill and says, "And one for you."
This Bugs Bunny mentality seems to be showing up lately across the 'net and across the country. Where's my slice of the bailout? How come these banksters get all this money and we don't get any? Maybe we should bail out the homeowners, or the credit-card holders, or the students with student loans. This is the wrong approach, and will only exacerbate the problem.
Because the bailout was a mistake in the first place. People borrowed more than they could afford. Lenders loaned people more than they could afford. Once we gave out the first bailout, we made it clear that we wouldn't hold banks responsible for their actions. We effectively said it was okay to be irresponsible with debt, there's someone looking out for you. And it opened the box of Pandora.
Car companies jumped on the bandwagon next. Now, some states are lobbying for a bailout from the Federal Government. And now we see people looking for a bailout to help with credit cards and student loans.
Sorry, people. If you can't afford to pay your bills, give back your stuff. Negotiate with your creditors. You may have to move to a smaller home. Cut up your credit cards. Sell your car. Eat at home. Turn the heat down to 68, 67, 66 degrees.
Because it's not right. I can live within my means. If it means I drive a 10 year old car and live in a small basement apartment, that's what I have to do. But borrowing more money from foreign governments to pay for all of our bills is not the answer. That's Looney Tunes.