Putting in work

Now that the debt-ceiling charade is over (for now) and the politicians have smugly retreated to their lavish homes and offices (abandoning the FAA in the process), the average American is faced with the stark reality: How are we going to get back to work to rebuild the wealth that was lost over the past few years?
  
Let’s clear the air first. No matter what Washington promises about creating jobs, it can’t deliver. That would be like Dorothy and her friends expecting the Wizard of Oz to grant them some brains, heart and courage along with a ticket back to Kansas. It just won’t happen.

Look at what has happened in America thus far. Despite the massive, debt-fueled bailout of the big banks and automakers, banks haven’t started lending again and employment remains anemic. While the perverse logic of Washington and Wall Street might tell you that incurring massive additional debt will lead to growth, Main Street is not so naive. The average consumer and business owner has refused to take on additional debt. Consumers are paying down credit cards and declining new offers. Businesses are exchanging debt for equity at a growing pace. This deleveraging process is likely to continue for some time, and the American consumer is not likely to be the workhorse of the international economy in the future. Getting rid of debt and excess spending is a good thing for our country.