To the Editor:
To Rejuvenate America, part four.
Once again, we the people have a just cause, but we do not have a leader. The just cause is to regain financial control of our wonderful nation.
The liberal policies started by President Lyndon Johnson have led us into a serious recession. The fundamental cause of our financial problems is the belief that everyone should be able to own a home even if they cannot afford one. When the government caused banks to make home loans with no down payment, not requiring evidence of ability to repay the loan, the banking system went awry. People bought homes they couldn’t afford and home values skyrocketed. When people who bought homes they couldn’t afford defaulted, home prices plummeted and the recession started.
When this recession started, George Bush was president, just ending his second term. Bush consulted with the President-elect Barack Obama about the need of a massive stimulus plan. When they both agreed on the necessity of this stimulus, it was passed into law. It exacerbated the problem.
The GNP came out of the negative but has not been over 1 ¼ percent for Obama’s first term. Unemployment, which shot up at the start of the recession, has stubbornly remained just below 8 percent. If those who have given up looking for work were included, the figure would be more than 15 percent.
We the people have a just cause, but we have elected a loser, not a leader.
Please God, bless America.