Well, the members of this household have done just about all we can do for the economy.
We worked hard for 45 years, paid a lot of taxes, and even built a modest IRA account. Other than that, we were spenders, just like most middle-income Americans.
We always thought we’d managed our lives — and our finances — pretty well. Our home is paid off, so we don’t worry about mortgage rates. And you can’t blame us for the troubles in Detroit.
As the slogan goes, we bought American. Two Fords sit in our driveway. We also spent a small fortune at Wal-Mart because it was the all-American store.
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Yes, we did all we could do for the economy. We worked, we saved, we spent. And then the roof fell in.
In a period of six months or so, our IRA shrank by 30 percent. Then came the so-called bailout of Wall Street and the banks. We give them billions and billions of our tax dollars and what happened? The banks are foreclosing on houses in our neighborhood while bankers take home huge bonuses. And in spite of the “bailout,” our IRA has shrunk another 10 percent. Something went haywire.
Now the politicos are going to give out another $800 billion to get the economy headed north again to create jobs. And the more we hear, the more we believe that this will go haywire too, because much of this money is going for things that have nothing to do with creating jobs. Looks like more political pork spending to us.
During the Great Depression, the government tried to get the economy jump-started with something called the WPA (Works Progress Administration). Old Daddy Philpot used to say WPA meant “We Piddle Around.” And there was plenty of that.
(Google that boondoggle if you like horror stories).
Yes, the Boyds really have done all we can do for the economy. And that’s a helluva lot more than we can say about those handling our investments and tax money.
Marvalene and Bill Boyd are residents of Macon.