An Economic Fix by Dave Ramsey

In the recent days of Congressional cat fights and talk of a $700 billion Congressional bailout Dave Ramsey has offered a solution.  Ramsey calls it The Common Sense Fix.  Dave Ramsey is certainly a common sense kind of guy.  I got to meet him, volunteer for him and have dinner with a few of his staff.  Great folks all.  The common sense Dave you see and hear on TV and radio is the same guy I met and learned about via his employees.  Now, onto Ramsey’s Fix which seems to be a sensible approach to this whole economic ordeal.

This fix, however, is actually step two in his three steps to change.  Those are:

1. Pray for Your Leaders.
2. Send the Common Sense Fix to your Representatives and Senators.
3. Tell Others by sending these three steps to them.

So far I haven’t heard folks telling us to:

1. pray for our leaders.
2. use much common sense to fix the current problems.
3. tell others anything but fear mongering propositions.

If the reports are reliable many voters have been contacting their elected officials in Congress telling them they don’t support the $700 billion bailout.  Congress just can’t wait to spend our money.  Whether it’s poor policies that lead to this mess or knee-jerk bailout proposals attempted to be pushed through faster than the Flash can run the 50 yard dash.

Ramsey’s proposal seems more sensible.  He breaks it down into three categories.

I. Insurance – insure rather than payout money, help for home owners, no golden parachutes
II. Mark To Market – stop this accounting for Tier III mortgages
III. Capital Gains Tax – remove all to create liquidity

Ramsey gives you a fuller picture of this summary in the link above.  He provides a cookie cutter way to use his letter to send to your Congressional officials right on the web.  If you agree with him then use it.  In case his website won’t load here is the pdf file.

Any opinions on Ramsey’s Fix?

Mark

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{ 3 comments… read them below or add one }

1 Mary Magdaline October 1, 2008 at 12:15 pm

Dave Ramsey for President!

Ok, I don’t really understand all of his plan (I’m not a business major), but wouldn’t he make a cool president?

2 Rhology October 1, 2008 at 12:19 pm

I don’t fully understand it either, but cutting taxes = good, and most any alternative to the bailout is preferable. ‘Specially if it comes from a non-Beltway person.
The Beltway seems even to have infected Coburn! 🙁 He supports the bailout, and that sux.

3 Simple Mann October 6, 2008 at 1:33 am

I am not a politician, economist, or a lawyer. I do well to manage the resources God has entrusted to my care, so my perspective is probably limited, but I don’t see this bailout doing much for anyone besides letting the people who caused this problem to begin with (the big money lenders who “granted” people loans those same lenders knew they would never be able to pay) get off the hook with no repercussions. In fact most of the people at the top of the decision-making totem poles that led to this crisis are living FAT and RICH, and have suffered no consequences for their actions, while the typical taxpayer in this country, 90+ percent of whom earn less than $150,000 a year, will get stuck with picking up the tab of both the money the ABUSIVE lenders made, as well as the money being borrowed to bailout the victims of their abuse. It is tragic and short-sighted.

For all the talk of free markets and deregulation, it seems to be quite obvious that we need some sort of referees on the playing field to make it fair for both sides. Otherwise, the home team (which would be the one with all the money and power; i.e. Corporate America) will always make, break, and bend the rules to their advantage as they wipe the playing field with their opponents (aka, the American Taxpayers).

But then, I guess in one sense, the American Taxpayers voted themselves to get rid of the referees because they listened to Corporate America somehow convince them that the games would be more fair and have less overhead if they didn’t have to pay the officials.

I am worried for this country. The love of money is the root of all kinds of evil, and it has become the basis for our government. God help us. This nation needs to come to repentance!

Prayers for Mercy,
Simple Mann

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