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We cannot afford Obama recovery tactics
The Gazette Opinion Staff
Dec. 5, 2009 11:29 pm
Where is this country headed? President Barack Obama's administration has increased the national debt from $4 trillion to $12 trillion. The annual cost of servicing that debt is $500 billion more than before. That $500 billion buys us nothing, and it is more than the cost for education, energy, homeland security and the wars in Iraq and Afghanistan combined.
We have seen how he and his administration took it upon themselves to fire an AIG CEO, shut down 25 percent of Chrysler dealerships, intimidate hospital CEOs and manage banking institutions. Is this wise governing? The Cash for Clunkers cost the taxpayers $24,000 per car, i.e., the cars which otherwise would not have been bought. The $8,000 incentive for first-time house buyers cost the taxpayers $45,000 per house ($16 billion/350,000 houses).
People are not convinced that these stimulus packages and costly incentives have helped the economy. Many think they have hurt its recovery. It is clear that we cannot afford these tactics, and we wonder if we can get out from under the growing debt and still remain a sovereign nation.
Now, the administration is trying to gain control of health care, one-sixth of the economy. Then comes cap and trade - another expensive and intrusive government program. There are not enough Republicans in Congress to stop this fatal debt increase and massive increase in government control.
If you voted for Obama, please call your congressman and tell him you are against government-controlled health care.
Joseph E. Mallie
Cedar Rapids
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