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900 W. Main St.,
PO Box 690 Grangeville, ID 83530
Phone: 208.983.1200 |
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| The Bush borrow-and-spend recession |
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| Letter - Schultze |
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Our economy is now in the worst mess since the banks all failed in 1929. The worst is yet to come and they usually call that a depression. Many banks are already failing. If it wasn't for FDR's Social Security System, which Bush would gladly destroy, most of our seniors would be on welfare or standing in bread lines.
Both Ford and General Motors are in deep financial trouble with layoffs in the thousands. Mortgage giants Fannie and Freddie require a huge taxpayer bailout that has no guarantee of working. Almost everyone in the real estate business is now qualified for food stamps and free lunches. There is no longer any safe place for seniors to put their life savings. Most retirement plans have been abolished with help from the conservatives, and interest rates don't even keep up with inflation. It looks to me that, "Read my lips" no new taxes has backfired!
No president should be allowed to squander a U.S. budget surplus and get away with it. There should be severe and costly penalties for leaving the U.S. in this kind of a mess.
Robert G. Schultze
Riggins
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