My prescription to fix the economy

I'm just laying around the house totally under the weather today. To speed my recovery, I've been watching several of the Sunday morning talk shows. Every one of them has been obviously discussing the current U.S. economy and how to fix it. It has been fascinating how screwed up many of these people are.

So.....
I will give my prescription for fixing the economy (because everybody else is). And I hope my children listen the most closely.

1.Save
2. Pay cash

Sounds pretty complicated, huh? These two principles are not part of the current discussion. Of course, it is pretty difficult to do this while unemployed. But these should have been the dominant points of discussion during the good times. But these two points run contrary to current popular thought. Spend, spend, spend to keep the economy expanding. Put it on plastic to do it. WRONG!

I would even go so far as to say that churches should establish "rainy day" funds in their budgets to help people when in need. I don't mean to use it to protect the church budget during bad times, but rather help members when the need exists. Pay attention to any effective money management program - such as Dave Ramsey's Total Money Makeover - and the two principles above are at the center of those programs.

Ignore the talk of Washington's financial institutions' bailouts. Let them fail. That is the basis for the economic concept called "risk." They took the risk to loan money to people that did not have the resources to repay.

1.Save
2.Pay cash

Pretty simple. I guess that is why the Bible speaks so highly of them.