A Trillion More in the Red: Where Do We Go from Here?

Now that the Federal Government has stuck us, our children and our children's children with over a trillion dollars in new debt to bail out the financial industry and is well on its way to collectivism and mercantilism, we probably should ask ourselves, How do we clean up this mess? We should already know that it is our generation's battle to get government and its politicians and regulators out of the economic distortion business. As the problem has political, economic, and monetary aspects, we know we have a large job ahead of us. But what can we do now to both further the healing process and provide some security to future generations? How can we ensure that our children and grandchildren do not grow up with near insurmountable debt and government gone wild shackling their futures?

It will not be easy; no politician or industry leader is likely to voluntarily step up to the job of identifying the causes and culprits, nor implement the strict fiscal restraints required to truly fix these problems. As always, it is up to the American people to do the hard work; as Jefferson said: '[we must] set them right as to facts, pardon & pacify them.' When aroused, the American people--just as we did with the McCain-Kennedy immigration bill--can still get the politicians to bend to our collective will. If we can simply unite to get but a single piece of legislation introduced and passed, that legislation needs to require: One, the establishment of a Sub-prime Lending Crisis Commission; Two, sequestering from the General Treasury all funds that accumulate as a result of the bailout; and Three, all sequestered funds must only be used to pay down the Federal debt.