Editorial: Credit Economy - WSFA.com Montgomery Alabama news.

Editorial: Credit Economy

  • Editorials 2010More>>

  • Editorial: The Auburn Knights Orchestra

    Editorial: The Auburn Knights Orchestra

    Friday, July 23 2010 12:22 PM EDT2010-07-23 16:22:56 GMT
    Friday, July 23 2010 12:22 PM EDT2010-07-23 16:22:56 GMT
    Editorial: The Auburn Knights – 7/22/10 In 1930 a  group of student musicians at  the Alabama Polytechnic  Institute, now known as Auburn University, formed a swing band… not such an unusual event at the time.  What is unusual  is that The Auburn Knights Orchestra is still playing music… 80 years later. Unless you're a fan, you may not know that the likes of Ziggy Elman, Buddy Rich and even Frank Sinatra have performed with the Knigh...More >>
    Editorial: The Auburn Knights – 7/22/10 In 1930 a group of student musicians at the Alabama Polytechnic Institute, now known as Auburn University, formed a swing band… not such an unusual event atMore >>
  • Editorial: Media access to the gulf oil spill

    Editorial: Media access to the gulf oil spill

    Friday, July 23 2010 12:20 PM EDT2010-07-23 16:20:00 GMT
    Friday, July 23 2010 12:20 PM EDT2010-07-23 16:20:00 GMT
    Editorial – Media access to gulf oil spill – 7-20-2010 Last week BP finally capped the massive oil spill in the Gulf of Mexico, but only after somewhere between 93 and 184 million gallons of crude oil polluted our coastline, depending on whose estimate you believe.  BP has grossly underestimated the flow of oil since day one of this disaster.  Three weeks ago, the federal government's oil response director, Thad Allen, put severe restrictions on media cove...More >>
    Editorial – Media access to gulf oil spill – 7-20-2010 Last week BP finally capped the massive oil spill in the Gulf of Mexico, but only after somewhere between 93 and 184 million gallons of crude oilMore >>
  • Editorial: Food and Fund Drive

    Editorial: Food and Fund Drive

    Friday, July 23 2010 12:18 PM EDT2010-07-23 16:18:34 GMT
    Friday, July 23 2010 12:18 PM EDT2010-07-23 16:18:34 GMT
    Editorial:  June 22, 2010:  Food and Fund Drive Over $12,000 and nearly 4,000 pounds of food… that's what YOU gave to the Montgomery Area food Bank last Friday during WSFA 12 News' annual Fund and Food Drive, and we thank you. Thanks also to the folks at Dixie Electric Cooperative, Cumulus Broadcasting and The Atlanta Highway Wal-Mart, who helped make the event a success. The Montgomery Area Food Bank currently serves 12 counties and 3 additional distribut...More >>
    Editorial: June 22, 2010: Food and Fund Drive Over $12,000 and nearly 4,000 pounds of food… that's what YOU gave to the Montgomery Area food Bank last Friday during WSFA 12 News' annual Fund and FoodMore >>

Our country's debt was nearly six trillion dollars when President Bush took office.

It is nearly 10 trillion dollars now as he leaves.

World debt is now 185 trillion dollars.

Alabama borrowed 437 million from its Rainy Day Fund to pay bills this year and must pay that back over the next six years - and start saving again to replenish that fund.

It will be tough to do with cuts of nearly 400 million from the education budget this year and double that next year coming first.

But it has to be done.  As individuals, states, and countries, we must save more and spend less.

A credit economy is not a stable economy.

Alabama is actually much better off than our neighboring states.

Most of our economic metrics are better than the nation overall and we are positioned to propel upward quickly when the recession recedes.

But we won't stay that way if we borrow our way to prosperity.    

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