Originally Posted by aklim

Which brings up my point. We need to let this kid flounder where he may. Sure, it will be painful for the kid and probably the parent but IF the kid gets out with some skin intact, he will learn the hard lesson. IF not, there will be another kid that watches him and decides he will not want the same consequence.

What the principle objection is that 1.5 million jobs will be lost. I have asked several times how they arrived at that number to no avail. Yet it is a nice number much like "Record Profits" we heard of years ago. Nice sound bite.

Nobody ever said it won't be painful much like a parent grieves when their child gets into trouble. However, if we are to survive, we need to deal with the pain and learn from it never to repeat the same mistake. What we are doing is basically taking out a payday loan at $20 per hundred to be repaid in 2 weeks. Well, come 2 weeks, you are now $120 in the hole so you take out a $150 loan and have $30 in your pocket. Life is good till the next time the loan is due and you don't have $180 and so on and so forth.

If we are strong enough to survive this mess, we will emerge stronger. Since it doesn't kill us, it makes us stronger like immunizations. If it does kill us, I suppose it will be sad but we don't deserve to survive it. If by some miracle we survive this one with bailouts, what happens the next time? Worry about it like the payday loan? Unfortunately many seem to want a painless solution and not have to struggle thru the lessons and try to come up with better ways. We just want to be bailed out today and not have to worry about it till the next time and so on.