Hi Friends and Family. Hope that you are well today.
Regarding the Proposed $700 billion bail out currently being debated, I urge you to make your voice heard by writing your congress persons. Here are links to the Senate and the House. Our representatives have made it easy for us. http://www.house.gov/ and http://www.senate.gov/
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Also below is a copy of an email I wrote to my congressman. I also sent the letter to my 2 senators.
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Re:Proposed $700 billion bailout for the financial services industry
Dear Cong. Barton. I hope that you are well today.
I urge you to vote not to pass a bail out bill this week or anytime soon. Let's give the bail out money which has already been involuntarily hoisted on our taxpayer backs a chance to work first. Let's not double our bail out bet until we see some documented results from the hundreds of billions already wagered.
Here are my reasons:
1. I think that this is another piece-meal approach. We need a deliberate and full and reasoned, bipartisan long-term solution to this serious threat to our economy. It seems that some of our representatives are willing to spend more time planning their pre-election time off than spending adequate time and effort to develop cost-effective long-term solutions to our Country's economic problems.
2. Treasury Secretary Henry Paulson is not competent enough to understand the width and depth of our credit crisis. Nor do I think that he can be objective. Mr. Paulson has appeared before Congress and the public several times over the past weeks, each time with his bail out hat in hand. Each time he expressed confidence that his solution was well thought out. Apparently it was not. So Secretary Paulson's big bail out hat now has over $500,000 million dollars in it. And he's back for another $700,000 million. It seems that both Mr. Paulson's number crunching skills and judgement are weak. I believe that if Mr. Paulson performed this way in private industry, he would now have been terminated by his employer. Also, can Mr. Paulson be expected to be objective about an industry from which he retired with a net worth of $500 million?
3. Let the free market economy which has been at work for the past 7 1/2 years be allowed to fix itself. Pres. Bush backed by a Republican controlled Congress ushered in a massive spending, surplus eliminating, tax cutting and loosely regulated style in 2001. Why abandon it now? This style has promoted the core principles of American capitalism --great desire for wealth and prosperity and the creativity and ingenuity to achieve it. Why not allow the Bush philosophy and management style to leave us taxpayers the legacy of not only creating a financial mess but fixing it before he leaves office? That way a new "change" administration of Sen. McCain or Obama will not be shackled with an additional $700,000,000,000 bill that would impede their ability to implement change?
4. No money has been identified to pay for any bail out. No spending cuts and/or tax increases to pay for bail outs have been promised. Thus we taxpayers will face more record-breaking deficits and a national debt which already has lowered the value of the dollar as well and increased interest rates and inflation. Furthermore, this will add tons of debt which may break the economic backs of our children, grandchildren and great grandchildren.
5. Finally, if it is decided to have an economic czar and entrust him with $700,000,000,000 I believe that person ought to be Warren Buffet, not Henry Paulson. Mr. Buffett is honest and highly regarded. Annually there is an auction conducted to spend a couple hours lunching with Mr. Buffett. This year the highest bidder paid over $1,000,000, which Buffett donates to charity. Warren Buffett is an expert in judging, managing and profiting from investment, insurance and credit decisions. As a result he is the world's 2nd richest man. But his personal wealth is not his most cherished prize. I believe that what Mr. Buffett values most is that his phenomenal journey to success has also created thousands of middle class employees and stockholders that are now multimillionaires. The price of one share of Berkshire Hathaway-A stock is currently over $115,000. Unlike most other corporations Buffet has not allowed the firm's stock to be split.
Thank you Congressman Barton for making it easy for me and other constituents to provide comments. I urge you to give my thoughts above your fullest consideration. If you do I think you will agree that you should not vote to pass another bail out bill this week or anytime soon. God Bless you and God Bless America.
Regarding the Proposed $700 billion bail out currently being debated, I urge you to make your voice heard by writing your congress persons. Here are links to the Senate and the House. Our representatives have made it easy for us. http://www.house.gov/ and http://www.senate.gov/
------------------------------------------------------------------
Also below is a copy of an email I wrote to my congressman. I also sent the letter to my 2 senators.
---------------------------------------------------
Re:Proposed $700 billion bailout for the financial services industry
Dear Cong. Barton. I hope that you are well today.
I urge you to vote not to pass a bail out bill this week or anytime soon. Let's give the bail out money which has already been involuntarily hoisted on our taxpayer backs a chance to work first. Let's not double our bail out bet until we see some documented results from the hundreds of billions already wagered.
Here are my reasons:
1. I think that this is another piece-meal approach. We need a deliberate and full and reasoned, bipartisan long-term solution to this serious threat to our economy. It seems that some of our representatives are willing to spend more time planning their pre-election time off than spending adequate time and effort to develop cost-effective long-term solutions to our Country's economic problems.
2. Treasury Secretary Henry Paulson is not competent enough to understand the width and depth of our credit crisis. Nor do I think that he can be objective. Mr. Paulson has appeared before Congress and the public several times over the past weeks, each time with his bail out hat in hand. Each time he expressed confidence that his solution was well thought out. Apparently it was not. So Secretary Paulson's big bail out hat now has over $500,000 million dollars in it. And he's back for another $700,000 million. It seems that both Mr. Paulson's number crunching skills and judgement are weak. I believe that if Mr. Paulson performed this way in private industry, he would now have been terminated by his employer. Also, can Mr. Paulson be expected to be objective about an industry from which he retired with a net worth of $500 million?
3. Let the free market economy which has been at work for the past 7 1/2 years be allowed to fix itself. Pres. Bush backed by a Republican controlled Congress ushered in a massive spending, surplus eliminating, tax cutting and loosely regulated style in 2001. Why abandon it now? This style has promoted the core principles of American capitalism --great desire for wealth and prosperity and the creativity and ingenuity to achieve it. Why not allow the Bush philosophy and management style to leave us taxpayers the legacy of not only creating a financial mess but fixing it before he leaves office? That way a new "change" administration of Sen. McCain or Obama will not be shackled with an additional $700,000,000,000 bill that would impede their ability to implement change?
4. No money has been identified to pay for any bail out. No spending cuts and/or tax increases to pay for bail outs have been promised. Thus we taxpayers will face more record-breaking deficits and a national debt which already has lowered the value of the dollar as well and increased interest rates and inflation. Furthermore, this will add tons of debt which may break the economic backs of our children, grandchildren and great grandchildren.
5. Finally, if it is decided to have an economic czar and entrust him with $700,000,000,000 I believe that person ought to be Warren Buffet, not Henry Paulson. Mr. Buffett is honest and highly regarded. Annually there is an auction conducted to spend a couple hours lunching with Mr. Buffett. This year the highest bidder paid over $1,000,000, which Buffett donates to charity. Warren Buffett is an expert in judging, managing and profiting from investment, insurance and credit decisions. As a result he is the world's 2nd richest man. But his personal wealth is not his most cherished prize. I believe that what Mr. Buffett values most is that his phenomenal journey to success has also created thousands of middle class employees and stockholders that are now multimillionaires. The price of one share of Berkshire Hathaway-A stock is currently over $115,000. Unlike most other corporations Buffet has not allowed the firm's stock to be split.
Thank you Congressman Barton for making it easy for me and other constituents to provide comments. I urge you to give my thoughts above your fullest consideration. If you do I think you will agree that you should not vote to pass another bail out bill this week or anytime soon. God Bless you and God Bless America.
1 comment:
I enjoyed your write-ups, Skip. There are other ways to deal with this crisis. It just seems like Taxpayers are being played by Wall St. yet we're at a rock and a hard place because unfortunately we have to give in some way. Why can't we actively go after the people who are making a financial killing off us tax payers? That would bring some sort of satisfaction - in principle at least. Maybe you should be on the advisory team for Obama. When I see my sons actively interested in what's going on in the world, that perks me up. This whole Obama movement has opened the eyes of so many young people. Now more citizens are awake to what is happening to our country and want to do something about it. Hope you and your family are blessed. Have a Godtastic evening!
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