Bailouts are not what U.S. needs
Regarding the recent letters defending the government’s bailout of General Motors, I’d like to offer some additional observations.
First, GM had already declared bankruptcy. It’s not uncommon for large corporations to declare bankruptcy and reorganize while a judge finalizes the terms. Employees keep working. The company survives. But under Obama’s plan, 20,000 non-union employees abruptly lost their pensions and health plans while the UAW, a large Obama 2008 campaign contributor, profited unbelievably. In reality, it was UAW’s bailout, not GM’s. See http://www.delphisalariedretirees.org
Regarding TARP: President Bush enacted the TARP loans during his last months as president, but this money was supposed to go back into the Treasury afterward. Instead, newly-elected President Obama took this money and gave it a second life – as a taxpayer-funded TARP slush-fund to bail out companies of his own choosing. This helped create the “budget deficit” that Obama complains about “inheriting” from Bush!
The Chevy Volt: GM loses almost $50,000 for each one built. Our military plans to purchase 1,500 electric cars, mostly Volts – proving that this is about cap-and-trade, not saving jobs.
Oh, have you heard about QE3? Our government is printing worthless money. More precisely, the Treasury is buying bonds with zero value and pretending they are worth billions. Forty billion a month will go straight to Wall Street bankers; it’s essentially a Wall Street bailout designed to keep stock prices (and Wall Street executive bonuses) artificially high. It’ll ensure continued Wall Street campaign contributions for Obama while keeping the illusion of an improving economy.
We’re told that QE3 will “fuel” the economy, because jump-starting (stimulating) the economy didn’t help. You see, the 4 million jobs that Obama has “created” can only exist as long as we borrow $1.3 trillion a year to continuously “stimulate” and “fuel” them. But soon, this artificial economy will come crashing down.
We need a different president, not more bailouts.
– Steve Pender
Rockwell

At ground level
 A Democrat until this year, I could no longer stomach the snake oil of deceit, vague generalities, empty words and broken promises.
Their “hope” slogan of 2008 is now hopelessly out of touch. Now, go back to the past of blame games. Every excuse possible has been used by this administration.
They claimed to be all-knowing, good, caring and powerful – heavenly, in short. So why are we still in such a hades of a mess? Their grand promises included everything except providing missionaries for cannibals.
It’s indeed ironic that one of only two impeached presidents was their ultimate voice of “truth” at the convention.
Yes, Bill (I did not have sex with that woman) Clinton. The mess Clinton spoke of was largely made in his terms by failing to regulate derivatives, which led to the housing market bust.
They boasted of increased oil production despite having not issued one new drilling permit on federal land in four years.
They bragged of protecting our shore lines despite the BP oil spill.
Natural gas production was increased – there was enough of that in the convention arena to power Charlotte for a year!
Education, the biggest hoax of the last century, was bragged on despite half our college grads being unable to find jobs.
We have 23 million people out of work, record food stamp rolls, and the Post Office is $15 billion in the red. Gas costs nearly $4 a gallon. We still take off our shoes at airports. Medicare is being gutted and may go broke in 10 years.
Joe Biden denied America is in decline. Clinton claims Obama has an economic plan from the ground up.
Well, we’re at ground level.
After controlling the White House, the Senate and – for two years – the House, there is no excuse. Even Obama said, “If it’s not done in three years, it’s a one-term proposition.” Take him at his word. Fire Obama on Nov. 6!
– W.F. Owens
Spencer