Elect People Who Will Act For Us, Not Wall Street

Advertisement

Editor:

Ray Pugel’s “Ten things that could spur housing industry” claims it will add 15,000 jobs to Arizona.

His plan will not add one job to Arizona, and shifts the blame for the current economic crisis from Wall Street; and while it can be challenged point by point, I want to concentrate on item 3: “Ask the national news media to refrain from sensationalizing housing and economic events.”

The American economy is moving from crisis to emergency and it is a mistake to think that we can bury our heads in the sand and wish-away the “Great Recession.” Thirty-second sound bites and misinformation by the talking heads in the media hides the fact that we are replaying the Great Depression.

The 1920s and 1930s reflect what is happening today, only the clothes, cars, and phones are different. Why can’t we understand that the good time ’90s were, like the Roaring ’20s, propped up by easy credit; and when markets collapsed in 1929, Wall Street and government had the same policies as today.

Before Roosevelt, government and Wall Street wanted to let the markets work. Falling stocks, home foreclosures and a balanced budget would cure the economy; because as values fell the businessmen and rich will pick up the pieces saving the economy. There were no bailouts or help for anyone. None of it worked and we saw soup lines and families living in cardboard shacks.

But, after the election of Roosevelt, new government programs created almost 70 years of prosperity.

Starting in 1980 this all changed, Reagan cut taxes, increasing the debt by 350 percent. Clinton deregulated banks starting the credit boom. Bush cut taxes increasing the debt 350 percent. Obama spends money we don’t have.

These government policies have destroyed the American dream of a lifetime job, home of your own and a secure retirement. Ask anyone who bought a house in Payson five years ago, watching it go down in value how secure they feel; or how rich you feel with your 401(k) worth one-fourth of what it was three years ago. Ask yourself why they want to balance the budget by cutting Social Security without increasing taxes for millionaires.

No, now is not the time to bury your head in the sand and wish the economy was better. Now is the time to educate yourself as to what is happening and understand why the middle class is losing to Wall Street, and to elect people that will act in our interest, not the interest of Wall Street.

Robert Hamer

Comments

Use the comment form below to begin a discussion about this content.

Requires free registration

Posting comments requires a free account and verification.