EagleTribune.com, North Andover, MA


October 15, 2012

Letter: Republicans hindered effort to fix economy

To the editor:

People forget what brought our great country out of the Great Depression! It wasn’t Hoover’s plans for business and finance (like Romney and Ryan) that did it! It was FDR’s plans by government actions — rebuilding infrastructure and roads, the CCC boys put to work, the TUA, NRA and other government, and I stress government actions first, that put money into circulation — not waiting for the private sector to loosen up financial resources that finally broke the log jam, and allowed the country to recover.

Government has to act first, historically, but the GOP lock on the House has prevented any recovery through government spending.

Look at the Obama bailout of the auto industry, and say that didn’t work, saving thousands of Joes, and probably the entire U.S. leadership, in automobile manufacture.

Even while Obama was taking his oath of office, the GOP was openly plotting to make him a one-term president. Look back at your own paper’s coverage and see. That’s what caused the log jam/gridlock in Congress: shortsighted Republicans voting against any measure to ease problems, refusing to compromise even when Obama risked his own party’s policy to get something done.

The financial bailout of finance and insurance companies was a failure, with no one being brought to justice. This was due to the Republicans push to deregulate Wall Street, and Romney and Ryan want even more deregulation. Doesn’t anyone see that that’s what caused the problem in the first place? Again, look at how few of these white-collar losers face any prison time for their greed and disregard of regulations, and those practices are still going on. Note the $2 billion plus loss recently, nobody doing more than saying that it was a poor judgment call, using junk bonds and the same deregulation from the Bush years.

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