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Seven Steps To Solving The Housing Crisis

1191 words - 5 pages

The crisis that America has found herself in, to be completely blunt and honest, all revolves around stupidity and bad choices. American citizens that had absolutely no business even thinking of buying a house flooded the market and were encouraged by greedy bankers that were out to make a profit, without thinking of the consequences or morals involved. Now the government has over stepped their boundaries and are spending this country into such deep debt, which makes one think that that light at the end of the tunnel is an oncoming train with no hope of slowing down, let alone stopping. The solution to this economic crisis is outlined in seven easy baby steps: 1. America needs to create a small emergency fund (at least a million dollars), 2. America needs to pay off this humongous debt and stay out of it forever (by paying off the smallest debt to the largest), 3. America needs to fully fund an emergency fund with six months of national expenses, 4. America needs to invest 15% of her income into retirement for government officials, 5. America needs to save money for her children’s college, 6. America needs to regulate mortgage companies and only give mortgages to people that can afford them, and 7. America needs to build up a huge amount of wealth and give a bunch of it away. All of these steps will be implemented while using a national budget, where every dollar is on paper, on purpose and when there are zero dollars left, there is no more spending done.

It seems that in the past couple of decades there is this attitude that capitalism is evil, saving money is selfish and money is overall evil. However, money is amoral and so is business. Saving for money should be done for wealth building, large purchases and emergencies. America has seen her fair share of large purchases, and emergencies, so it would make sense that she should have a financial cushion to protect herself. It also seems that there is a new religion out there; where everyone is suppose to bow down and worship at the altar of the great FICO. Americans have completely changed their opinion of how to handle debt. In the early twentieth century it was considered a sin to be in debt; now you see little Barbie dolls with their own little visas and master cards. America and individual Americans need to stop borrowing money and pay for things with cash. Dave Ramsey says, “If you live like no one else, later you get to live like no one else.” How amazing it would be if America could say proudly to all the other nations, “I am debt free, and able to stand firmly and assist my people when they need it. I take care of my people and manage their money wisely, because without my people I would be nothing.” I seems that politicians have forgotten that they are just asset managers or stewards for our money. This is still a democratic and capitalist society, whether they have forgotten or not. The government isn’t putting themselves into a horrendous amount of debt; they are...

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