Bail Out? Only if you are physically in a boat and it is sinking. Ok, perhaps, a couple of other situations might warrant it. However, I feel the current bailout the government of America is working on, is not a good idea.
As much as individuals want to blame the lenders for their problems, it is the individual’s responsibility to not over extend themselves. We have all made poor decisions, I know I have, but it was my responsibility to do everything in my power to bail myself out. I have spent more than I should have, bought a house more expensive than I should have, and I have just had to do with less, go out less, buy less, for years, at times, to deal with it. It wasn’t fun, I wasn’t as overextended as many are, but the principle is the same.
It is not a good situation, it is not pleasant. But, it is no different than expecting a child or teenager to learn from their mistakes so as not to repeat history. There is only so much bailing out — there comes a time we have to stand on our own two feet.
