When I was little, my Dad told me that money doesn’t grow on trees. For the first time ever (or maybe the second time … but who’s counting?), I think he might have been wrong. At least that’s the message we can take from this week’s massive federal banking/insurance bail out.
I don’t pretend to be an economist. Heck, I don’t even balance my checking book. But, I do know that something doesn’t quite add up right when the administration tries to tell you that there’s not enough money for universal healthcare … to properly fund No Child Left Behind … to cut Head Start funding … and so on. But, now there’s enough money for a billion-dollar rescue? Hmm. If money doesn’t grow on trees, where did this sudden influx of cash come from??
I think my dad was trying to teach me some fiscal responsibility. Clearly, that was a lesson lost in DC and on Wall Street. Maybe they should call my Dad.