I do not agree all that often with Rep. Spencer Bacchus (R-AL), but in this instance he is correct. Rep. Bacchus fears bailing out borrowers and lenders that willingly took on risky investments. The message sent by Rep. Barney Frank's grand compromise is that the federal government will ride to the rescue of those making ill-advised decisions. That should not be the federal government's role.

However, I empathize with lawmakers wanting to insulate regular Americans who are brought down by greedy speculators and homeowners that cannot control their impulsive spending habits. I certainly like the language in the bill calling for a modernization of the FHA. Long overdue. The ineptitude of lenders and borrowers threatens the foundation of the American economy, so lawmakers are right to respond. How they respond is the crucial issue and I take great exception at policymakers' bailout of incompetence and greed.

It would be much better had the Pennsylvania debate and any future debate between Senators Clinton and Obama focus on how the candidates propose to improve the balance sheet of the federal government. Likewise, in the fall, hopefully the campaigns will take the high road and give Americans two clear and distinct choices on how best to address America's fiscal woes. I know it's probably pie-in-the-sky wishful thinking on my part, but one can dream, can't he? This article takes an early look at the three remaining candidates' plans to address pet projects as well as try to return some semblance of fiscal sanity to the federal budget.