"Always pay the bank" was my father's economic advice. In good times and in bad, whether I had low, moderate or high income, I always paid the bank. The bank now offers me loans.

That fatherly advice, though, was not about making the bankers feel good. He wished to instill in me a sense of responsibility and moral integrity. Dad knew such an attitude would help make for a successful life.

Things are rapidly changing. Once, we honored and encouraged hard work, individual responsibility, integrity and achievement. The fruits of success were our reward. Today, we discourage such things by rewarding failure, mediocrity, incompetence and envy. If one does succeed using the old values, the government imposes penalties of higher taxes and more regulations to subsidize those who won't embrace the virtues that built and sustained the nation through truly hard times.

The financial adviser Ric Edelman said on his syndicated radio show last Saturday that the reason many are panicking during the current recession is because they have only lived in prosperous times. Edelman noted that 30 years ago, just 20 percent of the country was invested in the stock market. Now, he says, about 70 percent of Americans are invested and most have only lived during periods when the market (and home values) always increased.

The Obama administration is taking political advantage by promising to deliver us, if not from evil, than from anxiety. Instead of encouraging independence, government will now encourage dependence. John F. Kennedy's oration has been turned on its head. Today, it isn't, "Ask not what your country can do for you; ask what you can do for your country." It is, "Ask not what you can do for your country; ask what your country can do for you." No one can say we weren't warned. Obama promised to "spread the wealth around," rather than create conditions that would offer opportunities for more people to become wealthy. Continued...