Time for a little rant. You’ve been warned.
It’s not easy to be a quiet Libertarian these days, what with government mucking about everywhere. To a large extent you learn to ignore it all and hope the children will forgive us 20 years from now when they realize we spent their future on McMansions and ruined their planet with industrial agriculture, so we could have cheap food thus enabling purchase of aforementioned McMansions. And so it was today, me going through the day ignoring the health care debate (as if it’s possible to discuss health care without discussing health – our population, by and large, is not getting unhealthier due to lack of access to healthcare, it is becoming unhealthier due poorly crafted agricultural policies – but I digress), trying not to be too angry that the traffic will be jammed up Wednesday when the Annointed One visits Raleigh for the continuation of His campaign, and so on, and so forth. In other words, I was minding my own damn business.
Then I saw this: http://www.newsobserver.com/nation_world/story/1622607.html
I read it because the photo caption had the word Caffe in it. Seriously, I wanted to read about coffee.
The gist of the article, in case you don’t want to read it, is essentially this: due to the shitty economy, small businesses are defaulting on government-backed SBA loans. The loans are then forgiven, with a minor wrist slap. End of story.
Let me get this straight: my tax dollars are propping up shitty businesses that are either a) irrelevant to me; b) crticially wounded potential customers with credit so bad nobody would want them, or c) potentially desperate competitors. Great. Just great.
I realize that just because we waited to start our business until we had sufficient capital, and chose to grow it, slowly, without debt, that choice is not for everyone. I am not fundamentally opposed to leverage. You want to get big, fast? Lever up, baby! Go for it. Just leave me out of it. It’s fundamentally unfair that I, and millions of hardworking people and business owners like me, play fair, are responsible, don’t get in over our heads, and we are repeatedly punished by the need to prop up shitheads. Certainly I don’t share in the upside when it works out in their favor, so why should I cover their downside?
The answer, in my opinion? Let them go down. Period. Can’t make your payment? No problem. We’ll shut your ass down, seize your assets and sell them. Just like any responsible creditor would do. But no, instead, every responsible American reading these words pays the price. Enough, already.
What do you think? Please leave a comment – I want to know if I’m off base.