Bailout Failure

So the bailout was voted down, and surprisingly not so much along party lines. The vote count was 205-228. Those voting "yeah" numbered 140 (of 235) Democrats, and 65 (of 199) Republicans, so a sizable portion of each party broke from party lines in regards to this bill.

I must say that I'm not particularly pleased that my own representative, Barbara Cubin, voted "aye", but then, I suppose I'm against the bailout plan.

The larger question is the impact on our nation at the failure to pass this piece of legislation. The headlines scream about plummeting prices on the stock market (Dow Jones down 600+!), and there is rampant concern about savings, job safety, and paying the bills. On the one hand, I think that this is the natural consequence of the bubble bursting, and in a short period of time (a matter of months, perhaps), the economy will stabilize and we'll start our merry way upwards once again. People find out that no too many jobs were lost, and that the "fundamentals" of the economy, i.e. that portion that is still connected to the real world, are indeed still strong.

In this sense, I'm more of a do-nothing economist. The markets will right themselves. And while I feel fairly justified on this position (keep in mind I'm a computer scientist, not an economist), there is still the worry that this does portend even more dire events to come. Certainly our government thinks that a failure to do anything will open the door to doomsday scenarios, but that could simply be that our politicians believe they at least have to make a show of doing something, have some piece of legislation to point back at and say, "See? We did something about this."

I think lancing this sore is good for us, and we can't just cover up the wound with bailout packages. But then, is the infection so widespread that the healing process of bloodletting will bleed us dry before the infection is purged?

I don't have any strong answer on that. I do know that tomorrow morning, I'll wake up at 6:00 AM, have breakfast, read a little from my Bible, come to work around 7:00, and proceed with my normal daily routines. Life will move onward. If the economy tanks, well, I'll handle that somehow. I'll take whatever employment I can get to pay the bills, maybe even work two jobs for insurance.

I do know this. God will provide. It may not be what we want, but it will certainly be what we need. If I can't get my dream $75,000 a year job, well, maybe I should learn to be content with at $15,000 a year job, and live much more simply. Finances will be tight, but I can manage. And if we're willing to quit sniveling and act responsibly, the rest of us should be able to manage, as well, one way or another.