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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Why did warnings of financial doom fall on deaf ears?

TAXES, THE ECONOMY, United States

Right now we are seeing the results of warnings unheeded. Freddie and Fannie, once thought too big to fail, did. The taxpayer had to bail them out. Now many lending institutions are teetering on the brink of bankruptcy. The taxpayers again need to bail them out.

More and more is coming out about the warnings sounded by Republicans about the Community ra. No one listened then. They were dismissed by Barney Frank and Maxine Waters?

Many are saying today, why didn't we listen back when we could have done something about it?

I ask, why aren't we listening now?

President Bush tried to do something to shore up Social Security by privatizing a small portion of the accounts.

Paul Ryan laid out a plan to make Social Security and Medicare solvent. Like Freddie and Fannie and our lending institutions, Social Security and Medicare are heading toward insolvency too.

Is anyone listening?

No. It is human nature to ignore the obvious. Then when it reaches a crisis, blame everyone but those who caused the problem.

We cannot keep increasing the amount of debt forward to our children, grandchildren, and great grandchildren. The time to fix it is now. Bite the bullet and remedy it now. Social Security and Medicare is not too big to fail. In fact, because it is so big, it is doomed to fail. 

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