It seems the federal government is again providing a wonderful example Americans should follow. If you don’t have the money, spend it anyway.

Liberals continue to cry over the Iraq War with the crux of their frustration placed upon the cost of the hostilities. They argue the war’s cost is carrying the country deeper into debt with no regard to the burden placed upon the backs of generations of taxpayers.

However, it is quite interesting to see their fiscal concerns for the well-being of the country fly out the window when it comes to matters of bailing out bankrupt financial institutions or paying the bad debt accumulated by irresponsible citizens who bought houses they couldn’t afford. The liberals are unpacking the buckets for the bailout as I write.

First, let us remember we are fighting the war for the common good of the country. And long term, this war will help to continue the quality of life that Americans have come to enjoy as protected by the Constitution. But come on, we must realize that this quality of life issues are not really what the framers had in mind. Remember the Constitution only guarantees the pursuit of happiness not the promise of happiness.

Today, many Americans falsely believe they are guaranteed entitlements that should not only include their basic needs, but their wants as well. This explains why many believe it should be the government’s responsibility to bail them out of their bad choices. For those of you who might not understand my point, a $300,000 house built on LaFayette’s city lake is a want and definitely does not, under any stretch of the imagination, qualify as a need.

The cold, hard reality is this type of spending by the government on bailouts, whether they be corporate or private, will eventually lead to the total bankrupting of the country. But alas, few are concerned with this apocalyptic forecast.

The truth be told, the government is glad to provide whatever bailout is required, corporate or private.

Why?

The dirty little secret is that the government wants the people of the country to become dependent upon it, not only their needs, but also for their wants. Check out the prime examples of the lending institutes of Fannie Mae and Freddie Mac that are government-sponsored lending agencies.

Here we have the government allowing and even encouraging people to live beyond their means through these institutions by providing anyone the opportunity to secure a loan that, is most likely, above his or her means to repay.

My dad has been saying since the nineties that the practice of giving a mill worker a $200,000 home loan is a bad idea. He is proven right again.

Many people simply shrug off the government bailout as has been detailed by Bush and Congress, but come on, there is a limit to the amount of money that is available to government. This is why we are currently operating in a deficit. We are spending more than we have. Inflation is creeping ever higher while the value of the dollar is sinking lower.

Consider for a moment the recent practice of local banks, backed by Fannie Mae and Freddie Mac, allowing borrowers thousands of dollars without requiring the borrower to provide any type of down payment toward the purchase of property. Fifteen years ago this was unheard of. The borrower had to produce at least 20% of the cost of the property but today people can buy anything without even the slightest worry that they will be responsible for the repayment of the loan. They believe that if they default, good old Uncle Sam will be there to pay their way out of the mess they created.

This is gluttony at its worst expression. Not only are defunct home mortgages costing those who applied for them and went belly-up trying to pay for them, but now the burden for repayment is falling on many people who have practiced responsible spending, the taxpayer. There is no responsibility or accountability being practiced here.

Will Americans ever reawaken to an attitude of fiscal responsibility that was practiced by our fathers and grandfathers before us? The answer is simply no. At least, not until we are forced to.

I am afraid the writing is already on the wall. Look at the devaluing of the dollar on the world markets and the steady decline of stocks on Wall Street. Banks are starting to fail as they did in the Great Depression.

I suppose some could argue the old bit of “eat, drink, and be merry because tomorrow we die.”

Larry Brooks is a staff writer for the Walker County Messenger. He can be reached by email at lbrooks@walkermessenger.com.