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Wednesday, August 12, 2009

It’s the economy, Mr. President!

Dear Mr. President,
I’ve had just about enough with your “I inherited a trillion dollar deficit” rhetoric. Just because you inherited a deficit doesn’t give you the green light to make it an $11 trillion deficit by 2019 and bankrupt the country. You told us that this was the worst economy since the great depression and yet your own Vice President stated ya’ll misread the economy. With an unemployment rate now at 9.4% (over 10% in some 15 states), Americans want the economy fixed first. Climate change and health care reform (both of which will kill jobs) can wait.

You circle the globe (you’ve traveled so much that your sky miles will actually circle the globe twice) and bash American but you don’t seem to care what we want. To you its more important to you to push through your socialist agenda and get passed in your first year. You know poll numbers indicate that your policies are losing support (slipping faster than syrup on a pancake) and thus you have a very good chance of losing your majority in 2010.

In regard to health care, you like to use your “favorite alarmist claim” that states “if we don’t act, 14,000 Americans will continue to lose their health insurance every single day.” Huh? So based on your numbers if we don’t pass socialized health care reform then the number of uninsured will double by 2018 and all health care insurance coverage will be gone by 2041? Remember, no one leaves America to get health care and no one is denied treatment because of no insurance. Presidents and Prime Ministers of other countries come here for medical care. Italy’s Prime Minister Berlusconi traveled to the Cleveland Clinic to have his heart surgery. If his socialized health care, which is free, is so great then why didn’t he stay home?

You say Mr. President that we can’t have an economic recovery without health care reform (70% of Americans disagree with you). Let’s remember last fall when the banks were in need of being bailed out. No one said “we have to fix health care in order to fix the economy.” So you use the economic recession to move your socialist agenda forward. Your Chief of Staff Rahm Emanuel even said “never let a good crisis go to waste.” If you would just fix the economy, then we might not have to worry about millions of Americans losing their health insurance coverage due to layoffs or businesses closing.

As of July, 2009, the recession entered month 19 (the average recession usually last 10 months). Mr. President you told us that if we didn’t pass the stimulus bill we would see unemployment at 8% and that this bill would “create or save” 3 to 4 million jobs (I guess those are government jobs). It’s amazing that you were elected considering you have no history of economics or business. The fact that you recommended a “stimulus” bill that isn’t working and that is simply filling the pockets of your supports, will lead to inflation is mind-boggling. There is nothing in that bill that stimulates the economy or increases incentives for economic growth. The bill was signed into law six months ago and as many GOP lawmakers say “Where are the jobs?” Now you are backtracking and telling us that the stimulus bill was not intended to be “instant” but rather a two year program. Funny this is the first time we’ve heard about that.

You’re borrowing from foreign countries and taking money from the private sector in order to increase government spending and grow the federal government. Your Vice President told us that we have to spend money to keep from going bankrupt. Tell me how does that work? Why don’t we try a new approach? Let’s stop spending billions we don’t have, cut taxes and provide incentives to invest and that will get people back to work. Raising taxes on the rich and small businesses to pay for your deficit and your “health care reform” only kills jobs. Any sane individual (including the late President John F. Kennedy) knows that raising taxes only decreases tax revenue. Combined tax rates in 39 states have the potential to rise above 50% if your health surtax passes. When taxpayers can keep more of their own money, it gives them incentives for investments, perhaps start a small business or expand an existing business which will create jobs and so on and so on. President Reagan did this and we had 25 years of economic growth and job creation. But I guess you would rather just tax and spend. Take a look at a recent poll in which 84% of Americans see the economy as the top priority.

You campaigned to “transform America” and I guess destroying democracy is exactly what you want to do whether we like it or not. Despite your denials, you want to take over the health industry just like you took over the banks and the auto industries. Since you seem to be in denial that this type of action is socialism, here’s Webster’s definition - “any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods.”

We held tax day protests because the majority of Americans believe that we are taxed enough. You said no one making less than $250,000/year would see their taxes raised. Well if your health care plan goes through and if an individual doesn’t purchase the government required plan, then they will be taxed at 2.5% of adjusted gross income. You’ve already passed the cigarette tax which we know hits lower income Americans more often and now your liberal Congress is working on new taxes including health surtaxes, national sales tax, and soda taxes. Your plan will implement an excise tax on private health plans paid for by the taxpayer no matter what their income. Our tax rates are most certainly gaining the title as the highest in the world. Higher tax rates will leave America completely uncompetitive. When you increase taxes, you cause higher unemployment, fewer jobs, lower wages and slow economic growth. Just in case you don’t know, here’s some numbers on income taxes. Thirty-nine percent of federal income taxes are paid for by the top 1% of wage earners; sixty-one percent are paid for by the top 5%; seventy-three percent are paid for by the top 10%; and 43% of those earning wages pay no taxes. Your dislike of the rich and your “tax piracy policies” will only cause people to flee the US as they seek more friendly territory. Sad to say but even China offers more “pro-growth economic policies.” Your “cap-n-trade” bill will only result in higher energy costs, a competitive disadvantage for America; and the loss of jobs. Spain lost 2.2 private sector jobs for every 1”green” job created. When we are in a recession, any bill that will cause us to lose jobs must be defeated.

We will see some economic growth over the next year as Americans look to earn today what will be “taxed into oblivion tomorrow.” This growth won’t be enough to bring down unemployment which most see hovering over 10% by the 2010 elections. Interest rates will rise once growth collides with your trillion dollar deficits. If we continue on your path, we could very well be bankrupted by the end of the year. As of July 20, 2009, our fiscal spending for 2009 was at $3.997 trillion. We can not continue on this path of destruction. This is your economy now, deal with it and stop blaming others.

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