Scary Stuff

Glenn & I aren't overly concerned about the credit crisis, because we don't need it. We aren't overly concerned about the housing market because we aren't selling - or planning to in the near future. We aren't panicking about the stock market because all we have invested is in 401k's and IRAs. We're 38 & 36 so we have a while before we have to think about it. This doesn't mean we aren't sympathetic. Our parents are dealing with some of this and we worry for them.

Neither of us is too terribly concerned about our jobs because we have an emergency fund and we're both hard workers and willing to do anything to support our family. I understand there are people out there without jobs. I understand it's hard - I've been there. But, let me tell you something, I would clean houses, deliver newspapers , flip burgers or whatever else it took to keep my family afloat - so would my husband.

We are a dual income family that isn't living paycheck to paycheck, but not on easy street. My husband & I budget very carefully and live well within our means so that our children will be able to go to college and we can make our house payment in full and on time each month. We have no other debt and we have a decent emergency fund. We don't struggle, but we do have to be careful.

We aren't unique in money matters. There are a lot of people in our exact situation. Perhaps we are unique in that we aren't scared. We'll do what it takes to survive.

My point is, none of this money stuff scares me right now. Barack Obama does. There are a lot reasons he scares me, and maybe I'll talk about some of those later, but the economy is supposedly his strong point. And he's wrong.

We benefited from the tax cuts. Are we "super-wealthy"? Letting the tax cuts expire is the same as raising taxes - on everyone, not just those making over 250K. How else is going to pay for all of his entitlements? And if he raises taxes on businesses, who do you think is going to pay that additional cost? Not the business. Prices will go up.

I have compassion for those who need help. That is why I give to charities. Charities of my choice. Giving will suffer if taxes are raised. I will not change what I'm giving to my church (provided my income doesn't change). But others will. And we may not be able to give to some of the other charities currently on our list. And those charities, the people that work for them and the people that they help will be hurt.

Healthcare and health insurance are two different things. No hospital is going to turn someone in need away. But, the cost of healthcare for those of us that pay it is going up simply because so many don't pay for it. The hospitals have got to keep operating. The money has to come from somewhere. The government? Where is it going to get the money? US. And when the government takes over? You may not be able to get necessary tests or medicine because someone else will be making that decision for you.

Mortgages? Have you noticed the PMI on yours? Mine is around $90 a month. You know why we pay that? Because of all the people that default. Because of the sub-prime loans. Because banks (and Freddie & Fannie) got greedy and people made bad decisions.

Think the $700 billion bailout was a lot? You ain't seen nothin' yet.

NOTE: Let me say here, that I understand John McCain voted for some of this, too. I understand he leans toward big government. He was not my first choice in the primary. But, my priorities line up better with his that Obamas. Not just economically. And that made my decision.