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Friday, October 3, 2008

Take Two

The House is debating the bail out bill right now. I only listened for a few moments because I'm plowing through work here, but heard arguments both for it and against it. Representatives are explaining that it's an investment for us as taxpayers to do this and necessary to do it.

This is still a hard sell to people who have been experiencing financial difficulties for years now. I remember learning in college when I took marketing courses : Know your audience. Part of the difficulty here is that the constituents are a diverse audience. The resistance to the bill from people varies depending on their circumstances. But one thing to keep in mind is that many Americans are experiencing their own financial economic crisis. Phrasing this as an investment to them is like giving a savings bond to a starving man.

For example, the argument of restarting credit does not seem personal to many Americans because they have lost their credit long ago. And, until many of them see it become personal, right or wrong, they will oppose the rescue. People face foreclosure and staggering medical bills. Many have lost jobs or will. They seek relief from those situations, which are also at crisis proportions.

Because of the myriad of situations that this legislation does not cover, there is a predictable resistance to it from those who are already frightened and scared. And what adds to this is that Congress decided to act - quickly - showing it can be done, while not dealing directly with the other problems facing Americans, such as the cost of health care and foreclosure. This deepens the rift between some constituents and Congress.

Our ailing economy is not just about what's contained in this bail out bill. Yet we have one option. Where are the other fixes?

No matter how all of this is explained to people, it's still a tough sell.

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