October 18, 2012
To the editor:
OUR ECONOMY SCARES ME.
The Denver Post recently said that “never have American voters re-elected a president whose work they disapprove of as much as Barack Obama’s.”
I have never been as scared as I am now about the direction of our country and I DO NOT WANT THE FOLLOWING TO CONTINUE:
• BIG GOVERNMENT: Since Obama has been in office he has increased the federal government’s size and scope, which will continue with the implementation of the health care bill. Thomas Jefferson said “A government big enough to give you everything you want, is big enough to take away everything you have.”
• POOR ECONOMY: The GDP for the second quarter of 2012 was 1.3 percent and the Commerce Department said on the same day that durable goods orders DIVED 13.2 percent, the largest drop in 3 1/2 years, when the economy was in the throws of the recession. Businesses fear what will happen with the “fiscal cliff” of expiring taxes and rising taxes and increasing debt. Businesses have little incentive to expand or hire with the above uncertainties.
• EXPLODING DEFICIT: The deficit is more than $16 trillion and with the uncontrollable spending this will continue. Obama already has a bigger deficit in 3 1/2 years than Bush had in 8 years. Obama pledged shortly after his inauguration to cut the deficit in half in 4 years. Instead the deficit is out of control. This has to stop unless we become a Greece or Spain.
• HIGHER INCOME AND CAPITAL GAINS TAXES: It was shown during Clinton’s and Reagan’s administrations that by lowering both of these taxes on all income brackets, that more dollars were brought into the government.
• LOW EMPLOYMENT: Unemployment is near 8 percent and this does not count those who have given up looking for a job.
• CONTINUED PRINTING OF DOLLARS: This will devalue our dollar and cause inflation. The Fed has said they will continue to print $40 billion/month. Never before has the U.S. relied on artificially created money to cover so much of its spending says economist Lawrence Lindsey.
• NO DEVELOPMENT OF OUR VAST OIL RESERVES: We DO need to become self sufficient using all types of energy. But Obama, who has shut down drilling in the Gulf of Mexico, has embraced deep water drilling in Brazil. When Obama promised to create jobs, I thought he was talking about the U.S., not Brazil. To help Brazil develop their deepwater drilling the Wall Street Journal reported that, “The U.S. government’s export credit agency has authorized $3 billion in financing for Brazil, including $2 billion for the Brazilian government-run oil company, Petrobras.” The President also said he was looking forward to importing oil from Brazil.
• WHAT ABOUT BACKING U.S. COMPANIES WITH DRILLING?
-ATTACK ON COAL: We have a vast supply of coal, even in Colorado, and this administration is putting coal out of business, even though Obama says he supports clean coal. The clean coal advocates were recently banned from a vice president’s rally in Virginia and from a president’s rally in Ohio.
The one thing I agree with is when Obama said he would be a one-term president if he had not improved the economy. The economy has not improved, and if he continues his policies for another four years, I fear for this country.