By Bob Coffee, Karan Flick, and Pone Vongphachanh, Fort Wayne Area Association of Realtors
This year the D.C. Fly-In was moved from our traditional July visit to September. We knew the weather would be cooler but who could have foretold that we would be here at the time when the hottest debate would be occurring about our economic future. In meeting with our elected officials, it is clear that many of them feel that they are walking on a tightrope without a net. We heard that $700 billion is considered real money even to those in Washington D.C. This is a major, major issue that caught the members of Congress flat-footed. They’re having a huge problem getting their minds wrapped around this situation. Their first impulse was likely “let others deal with this.” Now they realize they must all be involved. One predicted “We’ll probably play chicken on Sunday.”
Some think there may be a temporary fix bill and then wait until after the election for further action. Just this morning we met with Congressman Pence. He is steadfast in his belief that we should first take a deep breath and not take hasty action during this time of crisis. His long term belief is that “less government intervention is more.” Other comments that we heard during our visit were “There are two things that drive the market: fear and greed. The greed has happened and now the fear is driving things. There needs to be a better balance of these two motivators.”
This situation is so large and complicated that no one knows what to do, even those who are very bright. What we should do is stabilize the situation and avoid the worse case scenario. We also need to protect the taxpayers from the downside. Then we need to study what contributed to where we are now and put regulations in place to make sure this doesn’t happen again.
One elected official shared a quote from his favorite book that captured how many feel at this time. “As I cast my vote I look down into my open grave.”
We also heard from Governor Daniel’s liaison in D.C., Debbie Hohlt. She shared Governor Daniel’s charge to her when she was appointed to the position. Governor Daniels told her to “Go to D.C. and work to get our fair share of the pie (historically Indiana has not gotten their fair share) but don’t do anything to make the pie bigger. Our job is to look out for the Hoosier taxpayer.”
As always, another great value of the trip was getting to know those from Northeast Indiana better. We had Don Schenkel in our group to hear his perspective on the current crisis from a local bank viewpoint. We had a good contingent from local government officials, entrepreneurs, defense companies, utilities, real estate professionals, etc… This is the value that the Chambers deliver -- bringing diverse representatives together and providing the opportunity to get to know one another. Together we bring great synergy to the table that everyone can appreciate. We are the drivers of the economy. Those in D.C. need to hear from us, realize that we care, and know that we are watching them closely. In closing, to paraphrase Congressman Pence:
1. Have faith in God
2. Have faith in our Country
3. Be careful to not put too much faith in Government
Reporting from D.C., Bob Coffee, Karan Flick, and Pone Vongphachanh.
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