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Tuesday, August 10, 2010

River Valley Dem District Chair-Letter To The Editor

The economy


The conservatives claim that President Obama is overspending and that the national debt is getting further and further in the hole.

Anybody in business knows that “it takes time and money to make business work.” Obama said at his inauguration that it would take some time to get the economy and jobs back to some normalcy.

In a recent report by Mark Zandi, economic adviser to John McCain and chief economist at, and Mark Blinder, an economics professor at Princeton, they state, “The economy has made enormous progress since the dark days of early 2009. The effects on GDP, jobs (8.5 million were saved), and inflation are huge and we probably averted a second Great Depression.”

Past chairman of the Federal Reserve, Alan Greenspan, recently stated that the Obama stimulus package is working. After the TARP program generated by President Bush and former Treasury Secretary Hank Paulson, President Obama and Secretary Geithner decided to further spurt the economy with the needed stimulus plan.

The Zandi report also states, “Increased unemployment insurance benefits and tax cuts put cash into households’ pockets that they have largely spent, supporting output and employment. Without help from the federal government, state and local governments would have slashed payrolls and programs and raised taxes at just the wrong time. ... Infrastructure spending is now kicking into high gear and will be a significant source of jobs through at least this time next year, and business tax cuts have contributed to increased investment and hiring.”

Instead of saying “no” just to support the party and keep their personal jobs secure, the conservatives should think positive as to support the good of the nation. America would get out of this deficit sooner and together.

David Hamilton

Bullhead City

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