Organizing for America | Walter Hecht's Blog: Fear

Fear

By Walt - Jan 18th, 2009 at 10:08 am EST

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"The only thing we have to fear is fear itself." Fear is the sand in the gears of our economy. People fear for the loss of their jobs and they fear debt that will overwhelm them. In England in the days of Charles Dickens, people went to prison for debt. Now in 21st century America, we imprison people for debt, sometimes for life, but we let them move about in society, earning wages which they must remit to the banks and other lenders. Some debtors are imprudent and others are unlucky. Many are the victims of medical debt.

A few years ago, the large lenders persuaded Congress to amend the bankruptcy laws to make personal bankruptcy more difficult. We are seeing the effects of that law now as people are afraid to spend on credit at the same time that large lenders are receiving massive, taxpayer paid, government aid. And don't believe anyone who says the "loans" will ever be repaid.

How to overcome the fear and restore the economy? Barack must lead by reducing or eliminating the causes of our fears. Confidence in his leadership is a big first step. Revision of the personal bankruptcy laws followed by health care reform to eliminate medical bill bankruptcy are two essential steps. If you have additional ideas of what Barack should do, I suggest you send your thoughts to him at http://change.gov

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