New Castle News

November 6, 2012

Obama took action to reverse nation’s slide

By Staff
New Castle News

NEW CASTLE — Editor, The News:

When Wall Street fell, we lost $7 trillion in wealth. Democrats made money available to help home ownership, but with deregulation, the expanded greed made it a hundred times worse, with no oversight.

The economy didn’t stop dropping when President Obama took office. It continued dropping by $1.2 trillion his first year and add $600 billion in interest payments.

With our best economists’ advice, Presidents Bush and Obama slowed the drop to a halt with the stimulus.

And the president only had four months of a Senate majority.

The rest of his term, Republicans were able to filibuster some economic critical bills a record 375 times.

Republicans wanted tax cuts for the rich but cut programs for the poor. Corporate welfare is twice people welfare. And in the last three years, the wealth of the richest grew 281 percent from 2007 to 2010.

The median wealth of the rest dropped 40 percent. And the wealthy don’t invest much to grow the economy.

Poor and rich need to compromise but Republicans today are more radical than ever. At the debates, not one Republican said they would raise one dollar of taxes for $10 in other government cuts.

Would you tell a sick child you can’t have proper health care because Republicans say it’s a privilege not a right? Twenty-eight industrial countries, including Italy, Canada and Spain, have the one-payer system. They pay 40 percent less than us.

We’re number one in cost, but 15th in performance. We’re 20th in life expectancy.

And the majority of Democrats are Christians. We don’t believe in abortions. We also don’t say once you’re born, you’re on your own.

Nicholas Occhibone

West Madison Avenue

New Castle