Latest on the Economy

As you no doubt know by now, my work life hinges directly on the economy and the availability of financing for projects. You have probably read my post "Everybody Now... Pull!", and have a basic feel for what I believe it will take for the economy to turn around.

Sunday, President Obama made a comment that is dead wrong, and may prove to be detrimental, or even disastrous, to our country. I know many are very positive about Obama, and I don't begrudge those opinions. However, I hope you will see how this comment, and the sentiment behind it, is very damaging.

The comment in question was not included in the pre-prepared transcript (available here), but I heard it in the replay on NPR yesterday morning. Obama said that the US government is the only entity that can get us out of this crisis. Just like a dutiful CEO, affirming a company's products or services as the best way to go, Obama is selling the federal government's ability to do the job.

Here's where he's wrong. It's not that I feel the government of Switzerland or Morocco should step in. Rather, he is forgetting about the entity that is the United States of America. You and I are not part of the government, except when we step into the ballot box or write a congressperson. We are part of the entity that is our great country. We consumers, businesspeople, investors, and citizens need to step out in faith. We need to be willing to spend sensibly, not clutch our white-knuckled fists around our wallets for fear of what the economy will do to us.

What happens when we rely on the federal government? We give up freedom, control over our lives and money, and we "pass the buck". Once upon a time, people in our country used to act out of personal responsibility and integrity. Now, we cry out to our government, saying, "Save us! Save us from this mess we got ourselves into!"

Let's all step out and do the right thing.