Economic Issues: Folkland Suffering, Part 2

by CJFosdick on January 19, 2010

This is the second part in the series on the economic plight of ordinary Americans. To read the first part, go to my blog of 12/16/09 called: “Economic Issues: Out in the Trenches, Part 1”.

While the Washington Fat-cats spend money like crazy,  there is suffering out in Folkland.  Obama is among the worst spender of all. For example, his original idea was to combine into ONE TRIP a stop at Oslo, Norway to accept his Nobel Peace Prize and then a stop in Copenhagen for the Clean Earth Conference, then home. Then, he took TWO OVERSEAS TRIPS in Air Force One. Obama regularly takes Air Force One out to some location to give yet another speech. Mr. President, what is wrong with staying in Washington for most of your speeches? What is wrong in saving taxpayers’ money? IN CASE YOU ARE NOT AWARE, IT COSTS $68,000 PER HOUR TO RUN AIR FORCE ONE. This does not include the money to fly the Presidential Limo, a helicopter for Presidential use, all the aides, the Secret Service, the News media, on and on. A trip overseas is a very expensive undertaking, and a second unnecessary trip was, in my opinion, is an unforgivable expense.

Meanwhile, out in Folkland, people are suffering. Let us look at another typical American family. Family B consists of a husband and wife and their three young daughters, ages five, eight, and ten. Both parents received a BA Degree before they married. The girls are very active in sports and this busy father and mother get the girls to practice, to games, and pay for their various sports activities. In addition, the father, while working a full-time job and spending time with his growing daughters, recently finished a Master’s Degree on line from a major university. The mother is currently working a forty-hour week, somehow keeping her sanity, while juggling housework, motherhood, and her marriage, all while going to a noted Teacher Education College to become a teacher.

The couple has had a financial plan whereby they were systematically getting their debts paid off, while saving for their future and for the girls’ education. They invested in their house in the early years of their marriage, and have since done a many improvements, such as changing an unfinished basement into three rooms and an extra bath. All this, of course, added to their financial debt, but they felt they were building for their future and the future of their children. Before the bottom fell out of everything, they had paid off their college loans, cut other miscellaneous debts, and owed mainly on just their mortgage and a credit card. Financially, things looked rosy for Family B and they were rightly proud of their foresight and money management.

Then, in September 2008, America’s economy went to pieces. Unemployment spiraled ever upward and still is today, now 10%. People were unable to pay their mortgages and foreclosures became common. Those who live in Folkland were scared to death and still are today, although the government brags incessantly that the recession is over. The spiraling effect of the downhill economy is taking its toll on Family B.

Yes, Couple B is lucky. They both still have jobs and they are paying their mortgage on time. But, like most Americans, the equity in their home has gone down one-third of what it was when they bought it, in spite of the improvements. Interest on their credit card has doubled from about 15% to 29%, doubling their payments. And the cost of everything is escalating. This is in spite of that fact that government denies inflation is happening. (Ha! Ha! Try to convince us out here in Folkland there is no inflation.) Either one of Couple B could lose their job because of budget cuts. Couple B is having so much trouble getting bills paid, they are considering getting into their 401s. This is, indeed, a scary time. They have worked hard, managed well. They have every right to feel bitter that so many of their endeavors seem to have gone awry.

But they are not bitter. Couple B continues to tithe 10% of their wages each month to their church or a worthwhile charity. They volunteer their time to coach activities like soccer and wrestling. They are grounded in their Christian beliefs and are raising their children to be accountable citizens. But the current outlook seems terribly daunting and they look to God to guide them in their hopes that their children will have a better future than they have. These are Americans. They will overcome, like so many of the folks in Folkland. We are Americans, too.

And Obama? He’ll continue to waste taxpayer money gadding around the globe at $68% an hour — money, that if he did something worthwhile with it like reducing the burden of taxes for us average folks, he could help Folkland, USA. But, don’t count on that.

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