Will taxpayers take it on the chin again?

We are among the millions of Americans that have bought homes over the years - homes that we could afford; and we rarely missed a mortgage payment. We used credit cards, but rarely got over extended. If we could not afford to get a loan to buy a new car we bought used cars. If we could not take that "dream" vacation because it was too expensive, we went camping or on a driving trip. We rarely took out an equity loan and rarely bought "risky" investments just to get a higher return.

Now we are asked to bail out the millions that did just the opposite. From the bottom up, home buyers, mortgage banks, financial institutions and corporations took the big risks believing that the real estate market would continue to rise. But that did not happen. Now we are told that we "have no choice" but for the taxpayers to pay a trillion dollars to bail out the risk takers and "save the economy".

I believe the economy can work its way through this problem even if it is a painful process. If Americans suffer financially, that might be just what it takes for people to get things in perspective in their lives. The "I want it now" generation took the risks, they should accept the consequences. Requiring the US taxpayer to bail out all of these bad loans is against the fundamental credo my depression era parents taught me: "Take personal responsibility for your actions no matter how difficult your situation becomes". Maybe the pain will develop some character in a society that thinks everything is easy and if you get in trouble the government will take care of you. Our family stands to feel the pain as much as anyone, but this country needs to get back to the fundamentals - work hard, stay within your financial means, and if you make a bad decision, take responsibility for it. This proposed bailout is nothing more than another step toward socialism.