Another piece from The American Thinker, by Judith Anderson, bemoans the financial mess that we’re in:
We have to begin by stipulating that government and many companies and individuals have been living beyond their means for quite some time. There was too much borrowing from Peter to pay Paul. Suddenly Peter was tapped out. There was the inevitable short fall and the system came down like a house of cards.
Whether the U.S.S.R. in the 1980's or the United States in 2009 there are some basic principles in play that do not discriminate. Undermine personal responsibility and initiative, expect a "free lunch" or provide them, spend money you don't have on things you can't afford and you have the universal formula for disaster. The facts of life are conservative. Trying to game these principles threw the U.S.S.R. on the scrap heap of history. The U.S. is now looking its own future in the face. Pursuing policies that got us into this mess might give us a short lived reprieve but will only delay the inevitable.
Policies and actions consistent with living within our means and being held accountable for good and bad decisions in every sector of the economy are necessary for a sound recovery. Responsible voters and taxpayers instinctively understand the concepts of maintaining reserves against risk and paying as you go. It does not require an Ivy League education.
Be sure to read the rest of the longer article.