I think the point is that government sometimes has it backwards. The economy scares everyone but probably scares business owners more. Especially those who make over a certain amount as those are the people who are being forced to further pay for the irresponsibility of others.
I can relate to the story, as a business owner i am afraid to grow knowing i am going to be further taxed and any growth i achieve will be be outweighed by the extra taxes the government is going to impose on me in 2010. Why continue to hire people if its going to cost even more to do so?
The letter was written by an Austrailian but it does apply for the US too. We all have friends who live beyond their means and have no idea how they will pay their credit cards and dont care if they ever pay off their debt. Instead they waste money on items they cant afford, get fired, and feed off the government nipple which is funded by those who lived in their means and worked their ass off to build a savings only to watch their savings get taken away from them in the form of higher taxes to pay for the irresponsibility of others.
I dont think things are going to get better for this country, i think we are headed for an all out depression that could last up to 4 years. A lot of people are going to get hurt, crime is going to spike and innovation will be stiffled, luckily the word has the same issues as us if not worse so we shouldnt lose what little edge we have in the global economy.
The letter is spot on. I would like to see Obama give up his $400K salary and the staff he has, it would probably save the country 10-15Mil a year. Does he really need a personal chef? let alone a team of them?