John Stossel: 'Pay for your own stupid mistakes'

John Stossel, co-anchor of ABC News' "20/20" and a syndicated columnist, speaks for a growing number of Americans who are fed up with today's bailout culture. While he doesn't deal directly with Barack Obama's endless bailout schemes, you get the idea.

From his column:

Why should other people chip in to pay for people who get themselves into trouble and need rescuing? They should take responsibility for the costs they impose on others.

As Herbert Spencer wisely said, "The ultimate result of shielding men from the effects of folly is to fill the world with fools."

If we start by billing drunken rock climbers who need rescuing, maybe we can convince Congress and the president to stop bailing out failed banks, insurance companies and automakers.

I won't hold my breath.

Read the full column here.