Op-Ed: To Save Tomorrow, We Must be Tougher Today

Western life is fuelled by economics, and thus is dependent on the health of big business. With so many companies asking for federal funds, governments – on behalf of their citizens – must evaluate the future viability of these failing companies.

“Our society is too focused on today; we’re not taking enough steps to create a better tomorrow.” David Walker, former Comptroller General of the United States. This global recession is a dizzying thing. Billions upon billions of dollars are being granted to corporations throughout the world, while at the same time more and more people are losing their jobs, their homes, and their dignity. If we are to get out of this recession, business is going to have to once again flourish. Western life is funded by our healthy economies, and our healthy economies are completely and utterly dependent upon the health of our businesses; but that’s hardly news. Yet it seems as though the people in charge, our politicians, are forgetting this crucial rule. With just about every industry crying ‘uncle’, federal governments throughout the world are signing cheques on behalf of their grandchildren in an effort to prevent a complete collapse of these many industries; thereby preventing the complete collapse of our national economies, and indeed, our way of life. But this logic has a glaring flaw. Given that the health of our economies are dependent on the health of our businesses, the deathly sick companies seeking federal funds need to be cured of their illness; they need a remedy. And last time I checked money is not a cure for sickness; it’s simply a vessel to buy a cure. And in keeping with this analogy, if businesses do not provide us with a shopping list detailing the exact ingredients they will need to create this economic medicine, then we should not provide them with money to do anything; they are deathly sick and haven’t been healthy for many years, if not decades. Giving them money will allow them to continue on being ill, thus making our economy ill, and therefore, making us ill. Add to the equation that we are indebting our children and our children’s children, to say the least, the companies requesting this money damn well better have ready an economic Buckley’s, just waiting to be paid for; what do I mean by an “economic Buckley’s”? Well, because these bailouts taste so awful, they damn well better work. In short, the money loaned (cough, cough) by federal governments during this recession must be used in a way that will ensure a return greater than the initial grant. And so, just like when you or I try and get a loan to start a company, governments must demand that businesses provide a plan that demonstrates how and why the (taxpayer) money they receive will produce returns great enough to fund our future (and in a way that won’t destroy our environment, and thus our future). Businesses that argue that the loans are needed ‘just to make ends meet’ without providing governments with a viable business plan must be denied their request. Giving money to these companies without understanding exactly how they plan on preventing their business, our economy, our way of life, from collapsing would be extremely irresponsible and extremely idiotic. It is vital that these bailouts be put to good use. The money issued today has an impact on tomorrow, and so, simple laws of rationality and responsibility demand that we make sure that the money issued today has a positive impact on tomorrow. To say it again, giving money to companies that have no cure for their ails will make this recession worse; so bad that we may even have to start considering the ‘D word’. To date, we, the public, have no clue how our $700 billion bailout package has been used. We know where it has gone, but again, we don't know how it's been used. And since we are not able to vote either for or against these bailout packages – as with a referendum – we must hold our politicians accountable and demand they understand where the money is going, and why it will not just prevent collapse, but why it will pave the way for future success. Getting out of this recession isn’t dependent upon saving sketchy companies for the time being; it rests upon the ability of businesses to return to prosperity. So how can we, everyday citizens, make sure our leaders carefully evaluate these bailout packages? Contact your local politician. Every western nation has too many of them; and if you have but a few minutes, you can make an impact. Phone them, write them, e-mail them. As unfathomable as it seems, the money we spend today will either ensure continued prosperity for the west, or bury the western model of society. As I see money being granted to horribly inept businesses like GM, I can’t help but think that the politicians that approved such loans need some serious lip. The politicians of today are deciding our future. And so, if you are a citizen concerned with ensuring a bright future for you and your family, get tough with politicians today. Thanks for reading. GRMM