Editorial: Economic Correction May Be What We Need
No one likes to be corrected; however, it is a part of growing up and a part of maturing. Correction often leads to a more disciplined way of life. After all, we can't enjoy freedom without discipline.
How does our current economic situation relate to discipline and freedom? I believe it does for the following reasons:
It appears from news reports that many individuals are spending a little less on Christmas gifts this year, and they are choosing to pay with "cash" and not use "plastic." It takes discipline to be careful in one's purchases and not go overboard. If this discipline is carried on for a few more months (spending cash and not charging), before long the credit cards will be paid off and even more money will be available for spending or saving, depending upon the choice that is made.
With more "money in your pocket," there is a sense of "freedom," as you are not bound by your debts. This is a lesson millions are learning right now�today! Now, it is up to the large corporations to learn the same lesson so they can become more disciplined and have the freedom to develop innovative new products.
This is a lesson that also is sorely needed by the government. I heard one of the elected officials say on the news the other day that "we are now spending Obama's money" on the bailouts. Just one correction here�it is the "taxpayer's money" that is being spent�not money belonging to the President-Elect, the President, the senators, the representatives, etc. They are only the stewards of the money we have entrusted them with, and they have the responsibility to spend it wisely and in a disciplined manner�so the government will have more "freedom" in the future to do what it is that WE need them to do.
Loyd V. Allen, Jr., PhD, RPh
Editor-in-Chief
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