I‘m a pretty laissez-faire type of guy when it comes to people, businesses, etc. My general belief is that you get what’s coming to you depending on the type of work (not employment, but ethic) that you have. I like to believe that the "American Dream" (i.e. success through hard work, good morals, and honesty), still lives if people give it a change. I think if you’re dumb enough, despite the hundreds of reports you see on television, to send your life savings to some "President" in Nigeria, then you deserve what you got (see here and here). If you wisely and prudently invested your fortune and got scammed by some scumbag (see this scumbag and this scumbag), you deserve some help. Moreover, I also believe that if you’re struggling to make your payments because you lost your job, got laid off, have severe/significant health problems, you deserve my assistance and my tax dollars.

I like the fact that President Obama has proposed a stimulus plan that has the potential to bring financial success. I don’t think, other than to say I told you so, that it’s right to criticize the President’s stimulus plan. The plan is what it is, and hopefully, as the President stated on Wednesday, this will be the plan that will bring the economy back where it needs to be.

One of the benefits I’m hoping will be good for everyone is the mortgage bailout proposal. Although I’m adverse to helping people who purchased more than they could afford because their lender said they could (sorry if that’s you), I think this provision will help bring this country and economy back where we need to be, but not in the short-term the President is hoping. I think if you qualify for a mortgage bailout, and your payments are reduced, then you’ll probably use the additional income to pay down your remaining consumer debt (that’s what I’ll do), instead of injecting the additional income back into the economy.

Sure, arguably you’re going to have more money to buy items and go to the movies, but generally, I predict you’re going to concentrate on increasing your family’s financial security through saving or reducing your debt. This will eventually be a good thing for this economy. Having less debt means more financial security, and eventually a stronger economy.

If you’re interested in the details and determining whether you qualify for the mortgage bailout, check out this article in Business Week, or refer to the White House’s blog post.