5th Boom and Bust Journal

Assignment #6:
We read a Newsweek article that talked about government involvement and tried to focus on answering the question of what is a good size for government? This article was really interesting. We discussed how our current government is getting very involved in our everyday lives. I don't really know how I feel about this.
On the one side, I can see the benefit of the government stepping in in this time of need. On the other hand, if our government just continuously played a moderate role in our lives, we might not have this problem.
In class, Ms. Schmidt mentioned how the wall that was set up by the government between Wall Street and bankers had been broken down in the early 1990's, and has been receding ever since. The barrier was set up around the time of the Great Depression. If we wouldn't have lessened the standards in the 90's, would we be facing the economic crisis we are facing today?
This is just one small reason for the problems we are facing today. We certainly can't blame all of our problems on the government. Our spending habits, and our idea that it's cool to live outside of our means, has really led to this recession. We need to take responsibility for our actions, and not leave it up to the government.