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Categories - Copywriting - Shopping - Free Online Business Help - Telecommunications Services Articles: Finance - Banks Need to be Downsized, not Supersized As has been usual over the past 70 years, the government is tackling a disaster brought onto us by their mismanagement backwards. The economic crisis we are facing is a result of overspending and over-borrowing. Since 1970, only four budgets have not been deficit building and the government has managed to borrow, spend, give away, and waste $14 trillion dollars mostly on things that they are not supposed to be doing. The 10th Amendment clearly restricts the size and power of government, but the government’s energy bill alone each year is $14 billion. With an energy bill bigger than the yearly budgets of most states, the federal government has clearly grown way beyond its Constitutional intent.
The economy is based on people selling goods and services and using the money that they earn while doing so to buy goods and services from others. Citizens generate 70% of our current economy this way. Banks get into the middle of this to make money in the form of interest. The proper role in this for banks is to loan money for things like homes, cars, unexpected medical expenses, educational expenses, and business expansion. Their role is not to finance meals at restaurants, food, designer clothes, cruises, and trips to Las Vegas. Banks are not the economy; they are only a small part.
The banks need to be downsized not supersized, but the government is intent on borrowing and providing them with trillions of dollars, after the banks have gambled away trillions of their depositors’, money, in an effort to prop up an economy that is suffering because it is too debt ridden. Banks have clearly betrayed the customers’ trust and they should be imprisoned, not rewarded with a bailout. “Don’t bail out debt with more debt. To contract new debts is not the way to pay for old ones”, said George Washington. Too much of the population’s earnings are going towards the payment of interest. When this happens, goods and services are not purchased and the economy suffers. No commerce is generated and the economy suffers.
Thomas Jefferson said, “To preserve independence, we must not let our rulers load us with perpetual debt” and, “The maxim of buying nothing but what we have money in our pockets to pay for is a maxim which, of all others, lays the broadest foundation for happiness”. There is nothing that the federal government is supposed to be doing that cost over $12 trillion above and beyond the taxes that they have collected for the past 40 years. We have not been at a state of constant war against some enemy or enemies intent on destroying us, we have not been in internal resurrection over protecting our individual rights, and the government has flat out refused to protect our borders against an army of illegal aliens. There is nothing else that the feds are supposed to be doing. They especially are not supposed to take our money from us and give it to someone else.
To add to the debt burden, the feds have determined ways to raise taxes on us without raising taxes. The hidden taxes come in the form of fines, licensing fees, and taxes on industries. Companies paying for these things simply raise their prices and let us pay for them. We pay for every one of these things. We soon will be paying for a carbon tax that will be imposed on us through the products that we purchase when the government could simply stop the production of these products if they are harming our property or us.
The government needs to curtail its self and it needs to stop propping up the financial institutions that have caused and will continue to cause this problem. In their greed, they have stripped the population of its wealth until they, too, are suffering. When the people had nothing left to take, they began eating each other. Don’t make us suffer more on their behalf.
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