Crisis not only time for unity
It should not come with great joy that some $700 billion in taxpayer money is needed to give the struggling U.S. economy a fighting chance.
The questions about how a key tenet of the U.S. economy — the housing market — was crippled should not be left unanswered. Responsibility on Wall Street is now something that should not be expected, but rather demanded.
With that said, there has to be recognized that the federal government made necessary measures — painful as they may have been — to try to prop up on economy that by no means is out of the woods.
In fact, Treasury Secretary Henry Paulson said Wednesday morning that there will be “a bump in the road.”
Still, he said he believes the government investment should stabilize the economy.
“There’s no doubt that the way to get maximum bang for the taxpayers here was to invest in banks.”
So the government gets a thumbs up for making the most out of a bad situation. What should follow next, of course, are measures aimed at making sure the economy is not so vulnerable in the future.
What should also follow in Washington is more bi-partisan efforts to address the needs of the country.
It should not take a crisis — one that has the U.S. economy in or near a recession — to bring lawmakers from both sides of the aisle together.
The bailout, or rescue if you prefer, of some of America’s leading financial institutions was performed swiftly because action was needed quickly if efforts to loosen up the market were going to be successful.
That’s the way it should have been and that’s the way is should be more often when in comes to lawmakers’ working together to solve the complex issues that face America.