???Some have mused that Western New York may be slightly recession-proof, seeing as the area has been in a pseudo-recession for half of a century. And while that's an endearing thought, it may be as true as the majority of last year's financial analytical reports.
???Not that the area's not prepared to react to yet another economic downturn. The City of Tonawanda Common Council recently approved a resolution that obligates the city to buy and utilize American products in an attempt to help the local economy, according to an article in the Wednesday issue of the Buffalo News.
???In the short term, this is a good idea. Buying American will boost domestic sales and improve confidence in the local businesses, preventing more jobs from being lost and literally investing into the Buffalo economy.
???However, according to the same article, the same council is also enforcing those properties dodging their tax payments. Foreclosures will be implemented on any city property delinquent on taxes, the list populated by around 100 properties.
???This action appears to be directly oppositional to the recent nationwide immediate financial breaks being approved by the U.S. government, which just watched President Obama explain his $275 billion plan to soften the housing crisis by offering incentives to lenders to alter loan terms, helping homeowners unable to make their payments and increasing the available credit for mortgages.
???All of this news exemplifies both the confusion this mess is causing and the two general tools the government, in general, is relying on: supporting American business and increasing regulation.
???At face value, these tools make sense, more or less directly opposing the deregulated and mostly unmonitored free market of the last eight years. If that way didn't work, this way should. Right?
???Maybe. At this point, there's no way of being certain. There is, however, something that is certain: buying above your limits via credit is not a good idea, never has been and never will be.
???The last paragraph of the same Buffalo News article references a resident's complaint that Tonawanda cannot receive tax payments by credit card. City Treasurer Joseph Hogenkamp answered that the city will "implement credit card payments in the future."
???Regulation or deregulation, government intervention or not, paying for everything with credit is a large part of the problems this country is currently facing. To see government officials continue to submit to these policies of "swipe now, pay later (or not)" is disturbing. Take matters into your own hands and pay with cash.
Photo: Courtesy of Laron Fomby
