Wednesday, October 29, 2008

Dave Ramsey's "Presidential" Commentary

One of my favorite talk radio hosts and personal finance experts wrote a great-yet-simple perspective on the upcoming election and how the new President will affect our every day lives. I'm going to try and stay apolotical in my blog; but I think the following is rather neutral and worth reading. 

This is from Dave's October eNewsletter, responding to a listener question.

Dave, which bozo should I vote for in this election? Who’s going to fix the economy? Who’s going to give me the most money?

Well, I’m here to remind you that you’re going to fix the economy because your personal economy is up to you. It's not Washington's job to fix what's going on with you. If you are waiting on Washington to change something, you've got a long wait!

You’re going to give yourself money as a result of your hard work and persistence. Waiting for money to be taken from others and given to you is a spirit of envy, and it's wrong.

I’m not here to tell you who to vote for. But I am here to tell you that the government doesn’t have the capacity to fix your problems. Washington is full of bozos, and I am doing my part to send a lot of them home!

This economic mess is a reality, but we can each only control one thing—our reactions. Does this stuff define you? Only if you let it. The weird thing about the economy is that YOU are the economy! I learned this the hard way. I got my real estate license when I was 18 years old. By the time I was 21, interest rates had risen to 17% fixed-rate … and I still sold houses. How? Because I worked hard.

As bad as USA Today meant a recent article to be about what we think of the suffering economy and upcoming election, I think it’s rather encouraging that no one thinks that President Bush or Barack Obama or John McCain can fix the economy!

This may be the beginning of the biggest level of prosperity this nation has ever known if we don’t look to a candidate to fix our lives. How about we say, "I’m going to vote for the candidate who’s going to fix the nation. I’m going to fix my life, so leave me alone and let me do my own thing."

Don't react based on fear or panic. Don’t look to Washington to fix your problems. Why would you do that? At what point did Bill Clinton fix any of your problems? At what point did he cause you to prosper? At what point did George Bush end your career or cause you to prosper? When did Ronald Reagan fix your problems? Guess what? I liked Reagan the most, and while he was in office, I hit rock bottom and filed bankruptcy—but it wasn’t Reagan’s fault. It was mine.

So when you go to the polls in a few days to cast your vote, don’t get caught up in following a political party or candidate without knowing the issues they support. Do your research so you can make educated decisions.


Mb said...

I like this article because it reminds us that our personal finances should come first because they ultimately limit our ability to participate in the overall market. However, my professor would be disappointed if I didn't highlight a discussion from my class last night which criticizes the "president has no influence over the economy" P.O.V. We discussed the sad realization that the president does matter more than ignorant Americans are prepared to believe. Since Clinton (Bush2 is guilty of this too) important (appointed) economic and financial advising positions have been staffed by supporters of Free Trade. Free trade moves jobs abroad; fair trade keeps them in America (there's more, but this is the short and dirty). So while it's important to remember one's personal finances as being paramount, it would be foolish to ignore the fact that executive powers have historically and consistently extended outside those officially enumerated (i.e. appointing officials that eill uphold the executive's agenda).

K_Streams_Her_C said...

No, I'm glad you left that comment here! I don't think the President has zero influence over our financial future (as a country and as individuals) but do think this perspective reminds us that no candidate can come in and truly "save us" the way that sometime we hear others talk about. Thanks for chiming in!

K_Streams_Her_C said...

Also, it's been neat to hear callers on Dave's show call in and say they've managed to get themselves out of severe debt even in this struggling economy... so even if some changes happen as the result of the next regime, we can still be in relative control of our financial futures.

Mb said...

I agree. I think anyone thinking that a single man/woman has the power to swoop in and save us is out of his/her mind. But what pisses me off more are the people (unf most of them are international affairs students I've met) who argue that the president has no power except that of Commander in Chief. Wrong!!!

K_Streams_Her_C said...

You're right - that is wrong!

Mb said...

K, you can be added to my presidential cabinet when I run for office. Secretary of Thrift and Anti-Wrongs.

K_Streams_Her_C said...

hehe. :)

Mego said...

Funny our R&D department (yes we have one those) sent an email today about the election. they compared each candidates plans and how realistic they are (basically what they propose vs what will likely happen).
It was very interesting--a little disheartening. dave is more positive because he brings up the point that we can solve it.