LETTER: It's a result of greed

Staff

Published Friday, November 28, 2008

You can study all the macro-economics, micro-economics and in-between economics you want seeking answers and solutions to the financial crisis our country is experiencing.

The net result of your studies will be a straight-forward message: You can’t spend more than you make.

The “Mother Hubbard bare cupboard” present status of our nations economy is a result of greed and corruption by Wall Street and big business, ill-advised investments in all levels of government and lending institutions, and irresponsible buying habits by the general public.

Unfortunately, crisis situations generally necessitate crisis interventions and so you suddenly find yourself in a tornado of reactive measures, including: bail-outs, business closings, company lay-offs, bankruptcies and others. The attempts to cure are often more painful than the cancer.

In Mower County, the economic crisis is especially paramount, given the percentage of senior citizens and those on fixed incomes. It will require time and sacrifices by all parties to return to a stable economy. It is to be expected that our country, city and school district keep this in mind as they come to the taxpayers for more money. All must bite the bullet.

Arnold Lang

Austin

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