The U.S. economy is based on the concept of a free market and free enterprise. Consumer spending is the basis of the free market and Americans out shopping and buying the products provided by other Americans is what keeps our economy alive and our nation thriving. Therefore it is patriotic to shop. However, it is against everything that America was built on when the government interferes in the affairs of the free enterprise that is carried out in America.
Free market as defined by Investor Words, an investing glossary, is “business governed by the laws of supply and demand, not restrained by government interference, regulation or subsidy. A foreign exchange market that is not controlled by the government.” InvestorWords.com So when the government starts trying to “bail out” the economy lots of money and resources are wasted. The life and death of a business should be determined by how good the product is and how efficiently it can be distributed, not by how long the government bail out money can keep them afloat. “The role of the government of a nation is only limited to controlling the law and order of a country and to ensure that a 'fair price' is charged by the sellers.” EconomyWatch.com
Some may say that if the government doesn't step in, then people will lose their jobs and that failed businesses will be lost. Or that this cutthroat way of life is not fair to people that just want to own and operate a business. Well for every business that goes under there is usually several more that are going to take it's place. And if everyone had their own business then there would be no one to run and work the businesses that are going to make it on their own. Keeping a business open that is not making any money is not a logical solution.
When the government stepped in and demanded that banks loan money to the public for small business loans and first time homeowner loans, the result was the banks not being allowed to turn anyone down and they ended up loaning out too much money to people who were never going to be able to pay it back. This helped cause the beginning of the downturn of the economy. Now there is no more money for people to borrow and the banks are foreclosing and people are losing their businesses and homes, jobs start diminishing. As a result the general public doesn't have the money to go shopping and purchase luxuries that they are used to. So the businesses that provide these products start losing out and going under, and the snowball begins to grow.
Then come the bailouts and the tax breaks. People say yes, we need this government aid to stimulate the economy and get people back on their feet. Get businesses going again and get those jobs back on the market. But who do these bailouts and tax breaks go to? They go to the banks and corporations where the problem started in the first place. These bailouts are supposed to stem lending and help spur the economy. “ From June 2008 to June 2010, commercial and industrial lending by commercial banks declined by $222 billion or 18 percent, from $1,204 billion to $982 billion. Over the same period, small-business lending by commercial banks declined by $57 billion or 8 percent, from $661 billion to just $604 billion. The lesson is clear: Investing taxpayer dollars in commercial banks leads not to more lending, but to less lending by the banks.” Rebel A. Cole -The Washington Times In the meanwhile all of this money has to come from somewhere and where else but the taxpayers pockets or worse borrowed from other countries.
In conclusion the best way to conserve the patriotic act of Americans supporting each other by shopping and purchasing American products is to allow the free enterprise to take it's course. “The key to free enterprise is that all these people, whether they start a business of their own or work for someone else, do so voluntarily. By allowing people to pursue their own interests, a free enterprise system can produce phenomenal results.” the Economy and Monetary Policy