Monday, January 28, 2008

The Mortgage Crisis and Wall Street

You can't turn on a TV without seeing a commercial for a credit counseling or "debt reduction" company. America, we're in a mess! I have the solution, and I got it from looking at my own paycheck. The temporary "boost" (even if one could call it that) Americans might get from any tax rebate or refund will not fix the problem. When those checks arrive, I see families and individuals catching up on bills fallen behind.

Eliminate the high cost of health insurance from a paycheck like mine, and personal spending power would be increased anywhere from 33 to 50 per cent! Keep in mind that the cost to insure a family of four is the same, approximately $600 a month or more, whether gross pay is $20K, $40K, $70K and on... get the idea?

"The little guy" (as he lovingly referred to by entities who claim to be fighting for him) on the lower end of that scale is the one who would really benefit from lower cost or government-sponsored or subsidized health insurance. People scraping by, eating Ramen Noodles and hot dogs until the next check might actually be able to afford chicken and hamburger meat!

Until "the big guys" understand this, they will continue to scratch their pointed little heads, trying to figure out "what went wrong" and "how to fix" the economy and the housing market.

I'll share this with you: it's all going to get worse before it gets better! With gasoline at $3.59 and milk at $4.39 a gallon... YOU do the math!

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