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This blog was the first in the nation created by an editorial board to give readers a behind-the-scenes view of the discussion that goes into crafting the newspaper’s daily editorials. It includes updates on the work of the editorial staff and debates on general news issues. We welcome and read all letters from readers. Letters are selected for publication based on their clarity and brevity. They also are chosen to represent a diverse set of views on as many issues as possible. February 2010
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Letters to the Editor - Economy
February 15, 2010
If anyone is really concerned about wasting our money, Wall Street is a smoke screen intended to hide what Washington is doing to us and our future. The Wall Street "waste" is a pimple on the behind compared to what our politicians are doing. Phillip Cox, Paris
I saw a new ad by the Committee for Truth in Politics and thought for a minute that I had been transported to DC Comics' Bizarro World, where up is down and black is white. The commercial seems to attack President Barack Obama's plan to rein in the big banks, end abusive practices by the credit card and mortgage industry and ensure that taxpayers will never again have to bail out Wall Street. But that is not the impression the ad gives, and because reforming our financial system can get technical, it's also ripe for distortion. It is too easy to make false claims about what's actually in the legislation. That's why it's so important to separate what the reforms will really do from the upside-down claims protecting the interests of the industry the legislation is designed to regulate. Real financial reform will protect working families and small business by reining in the greedy, reckless behavior of big banks on Wall Street. Reform will crack down on the abuses by credit card companies and mortgage lenders. Financial reform will hold Wall Street accountable and prevent another financial crisis like this one, which has led to millions of Americans losing their jobs. And that's the truth in the politics of financial reform. John Olszewski, Dallas The ongoing hearings in the House grilling Ben Bernanke and Timothy Geithner have not addressed a key fact in the financial crisis. We are a huge debtor nation. Our creditors, including China, Japan and OPEC, have a major stake in our economy. I would like to know how much influence they exerted in having the taxpayers back up the banking system in September 2008. Had the system been allowed to fail, we would likely be cut off from access to Chinese goods and OPEC oil. This debt is a direct threat to our sovereignty. The sooner we take back our country and become a creditor nation, the better off we'll be. Tim Fisk, Richardson Limiting executive bonuses to punish banks for the poor state of the economy is like giving an aspirin to a cancer and expecting the patient to heal. We can't blame the bankers for our economy, because they were only playing by the rules of a free-market economy. Instead, I blame the lawmakers who set the rules. Regrettably, the conservative Supreme Court recently ruled that there should be no limit to the amount that Wall Street fat cats can donate to the campaigns of conservative politicians who are supposedly seeking to curb the excesses of Wall Street. The irony should be obvious. Republicans like to call for fiscal conservatism and free markets, but this fiscal conservative thinks that W's free markets were actually more akin to a lawless black market. I would tell politicians the same thing I tell my children: Rules make the game fair and fun for everyone, even the losers. Amy Aldrete, Plano
Small business tax breaks To fix the economy, we need specific answers, not rhetoric. We need to reduce the costs the government imposes on businesses and simplify the process of reinvesting capital. The government can help by giving businesses tax breaks and incentives to stimulate capital equipment purchases. The tax breaks make it easier for businesses to acquire equipment. When small businesses can immediately write off percentages of capital expenditures, they generate capital through reduced costs. Businesses with increased capital stimulate the economy and create job growth. Both sellers and buyers of capital equipment can inject life into a sluggish manufacturing sector. And the nation can begin to regain a powerful competitive position in the global market. We can return to being producers, not just consumers. Tax incentives have been talked about recently, but nothing substantial has been done. Too often, incentive programs expire before we see results. When we make our tax system simpler on small businesses, we make competition a focal point. Let's put America back to work. Brent Williams, Fort Worth ![]() ![]() The entry "The economy: 'Populism' is bogus" is tagged: Economic crisis January 25, 2010
If it's me, I really prefer preventive medicine to an autopsy. And I feel that way about the economy. That's why this flap over Federal Reserve Chairman Ben Bernanke is so troubling. Do we really want government officials to do good autopsies, or do we want them to be proactive in heading off disasters? But how do we send them the message if their jobs are not at risk? Bernanke is a really smart guy, but he mostly sat by, watched our economic ship head for the reefs and did nothing to prevent the wreck. Maybe if Bernanke is given the boot, the next person will have a better understanding of what the job demands: intervention to head off problems -- not just a whiz-bang autopsy. Stephen L. Love, Dallas ![]() ![]() The entry "Give Bernanke the boot" is tagged: Ben Bernanke January 7, 2010
Re: "Pending home sales fall 16 percent," dallasnews.com. These reports don't show how many people were evicted, or how many homes went into foreclosure. That's still happening because the jobs just aren't there. Job offers pay far less, and people are still in trouble. If people run out of unemployment assistance, does that mean the unemployment rate went down? For example: Someone we know repossesses cars. He was trying to find a car. A neighbor indicated the owner's house is in foreclosure, and the couple will have to move by the end of the month. It is a very nice home. They both lost their jobs. Don't you think they would get jobs if they could? Donna Lackey, Dallas
![]() ![]() The entry "Jobs still lagging" is tagged: jobs December 20, 2009
During this year when our pledges ran behind and the money coming in slowed down, my church was faced with a grave situation. We didn't have enough money to pay our bills. We had to reduce the staff, curtail some programs and find ways to live within our means, which we did. What a novel concept! We didn't have the ability to raise the debt limit, spend borrowed money wastefully, promote a program that may not be needed and try to move a society from capitalism to socialism. We all will have to account for our sins, and for some it will come in 2010. Don Reichert, Duncanville ![]() ![]() The entry "They shall be held accountable" has no entry tags. December 15, 2009
Re: "Curing depression by spending," by Carolyn A. Duff, Sunday Letters. Duff said that President Franklin Roosevelt did not manage to spend our way out of the Great Depression. Instead, she says it was World War II that ended the depression and cured the economy. I would just like to ask her and others who say the same, exactly how did World War II cure our economy? The answer was by spending. Our deficits at the end of the war were higher than at any time of our history until today. In actual fact, it was a higher percentage of our GDP than our current debt is now. So we did spend our way out of the depression, just spending our money on the military and military industry rather than peacetime activities. Bill Robinson, Arlington ![]() ![]() The entry "War spending still worked" is tagged: deficit , depression December 12, 2009
Re: "A Credibility Problem -- Obama can't equally commit to spending, cuts," Friday Editorials. It is hard to exaggerate how off-base this analysis actually is. There is something of a consensus among competent economists that a second stimulus may be wise at this point and that the size of the deficit is currently troubling but not unmanageable. Just where were those on The Dallas Morning News editorial staff who are now so concerned about deficits when George W. Bush was irresponsibly lowering taxes on the affluent as he and his Republican Congress spent like drunken sailors on an "off the balance sheet" war, irresponsible drug entitlements, etc.? This editorial board endorsed Bush and gushed about Phil Gramm as these two brought us almost to complete economic ruination. When it comes to managing the economy, Barack Obama, Ben S. Bernanke and Timothy Geithner get high marks indeed from those who know what they are talking about. Obama does not have a "credibility problem," The Dallas Morning News has an "ignorance" problem when it prints irresponsible, politicized drivel like this. Folks, heed The Dallas Morning News when they report on Cowboys football. When it comes to commentary on the economy and policy, they are hacks regurgitating discredited warmed-over "Reaganomics." Joe Lindsay, Dallas ![]() ![]() The entry "Whose credibility problem?" is tagged: Barack Obama , economic stimulus , economics
Re: "Depression history repeating," by David Overton, Wednesday Letters. Overton states that the reasons for our present situation are the same as for the Great Depression and that history is repeating itself. Franklin Roosevelt, contrary to the public perception that he saved the country, tried to spend our way out of it, as our present Congress is doing. It failed, just as we are seeing failure today, and for the same reasons. At the start of World War II, the country was still in a deep depression. The war is what cured our economy. Roosevelt was swept along for the ride and got the credit for it. It amazes me how history has been tweaked to serve people's purposes. Carolyn A. Duff, Highland Village
![]() ![]() The entry "Curing depression by spending" is tagged: economic stimulus November 27, 2009
Re: "Investors create mortgage win-win -- Deals benefit lenders, homeowners, but much of risk shifts to government," Sunday news story. Please explain to me how a 62-year-old janitor sitting in a living room looking like a furniture showroom has a $440,000 mortgage. I fail to see the win-win part of this, when the banking and government vultures who created the mortgage scam of the last 15 years by encouraging people to live beyond their means now repackage taxpayer scam, part deux. Now, millions more in fees are being paid to rebundle the previous scheme on the back of taxpayers. Now, bring on government health care. David Lowenthal, Frisco
![]() ![]() The entry "What's a win-win here?" has no entry tags. November 19, 2009
As Dimon later writes, the implications of a major financial institution's failure are global. He seems to be making an offer that he knows we must refuse. Is it possible to write regulatory policy that maintains the advantages to customers of successful big institutions, while mitigating repercussions? If we have any doubts, we should be willing to sacrifice some of the benefits of size for the security of the system. Then we'll be able to accept Dimon's offer, and if need be, let his firm fail. James Gaertner, Dallas ![]() ![]() The entry "We have to prop up big banks" is tagged: Economic crisis November 9, 2009
I returned to the Dallas-Fort Worth area last year after living in Killeen for nine years. Although I was a civilian, my job involved constant trips onto Fort Hood, so you can imagine how heartbreaking last week was for me. My neighbors in the Fort Hood area were the least bigoted people I've ever known. When I returned to D-FW, I was stunned by the relative lack of interracial couples. The one thing I know the good people of Fort Hood would not want is for this horrible tragedy to result in an increase of bigotry against innocent Muslim citizens. Perhaps we should all spend our time praying for the families of the dead and wounded instead of excoriating an entire religion. Patricia Thomas, Arlington ![]() ![]() The entry "Don't condemn all Muslims" is tagged: Fort Hood , Muslims November 6, 2009
Re: "Taking hard road early now paying off for Ford -- Automaker reports $1B profit and expects a sunny 2011," Tuesday news story. Of the three major automakers in the U.S., the only one that did not ask for, or take, any of the taxpayer bailout money is the only one that is making money -- Ford. There is a lesson to be learned here about what happens to private enterprises when taxpayer money keeps them afloat. George Kelly, Dallas
![]() ![]() The entry "Ford looks good now" is tagged: Automakers November 5, 2009
At the one-year mark since President Barack Obama's election, the results speak for themselves. I survived four years of the Jimmy Carter presidency and the second four years of George W. Bush, but I am prepared to make an early prediction. I truly believe that Barack Obama will go down in history as one of the worst presidents in the last 100 years. For those who insist that it is too soon to make such a prediction, I give you Exhibit A: the economy. With unemployment at 10 percent, an artificial gross domestic product and deficits that my grandchildren will not pay off, I find it increasingly difficult to see how this president can come away with a positive image. When creditor nations will not buy our paper, we need to take two steps back and ask ourselves where we go from here. Nat Cohen, Plano ![]() ![]() The entry "Evaluating Barack Obama" is tagged: Barack Obama , Economic crisis , economy October 31, 2009
I assume that the same people who cried out in anguish last year when Exxon reported record profits are now sponsoring a bailout for Exxon. Maybe it would help a little if they averaged Exxon profits over, say, 10 or 20 years, like reasonable investors do. Maybe the media could start the trend. Tom Jones, Garland
![]() ![]() The entry "Examining Exxon profits" has no entry tags.
Re: "Reining in the fat cats -- Capping CEO pay might feel good but could lead to an exodus of top talent, says Linda Chavez," Monday Viewpoints. She goes on to frame the issue in terms of populist revenge and says how unfair it is that the old right-wing bogeyman "Hollywood" isn't similarly targeted. It is not revenge but simple justice. The top echelons of the corporate elite have taken for themselves the bulk of the productivity gains that we have all worked hard to produce in this country. They have sent our jobs overseas and cut our salaries and benefits while increasing their own. We who labor on far lower rungs of the corporate hierarchy are tired of this situation -- the excessive pay for executives comes directly out of the pool for our salaries. We don't compete with Hollywood or sports figures for our daily bread. Stephen Gardner, Dallas ![]() ![]() The entry "We compete with execs" is tagged: CEO pay October 27, 2009
Re: "The Cost of Giving -- Nation can't afford $250 handout to seniors, Thursday Editorials. The Dallas Morning News said seniors would be "stealing" from future generations if we receive a $250 bonus. The younger generation has earning power that seniors no longer have. Our Medicare premiums continue to increase, our supplemental insurance continues to increase and our necessary medications increase. Our Social Security income probably will not increase for three years. I love young people (I have children and grandchildren) but someone needs to think about the senior population. Eldena Burnett, Dallas ![]() ![]() The entry "Why seniors deserve a bonus" is tagged: Medicare , Social Security October 20, 2009
Re: "$1.4 trillion deficit is worst in U.S. since '45 -- Large gap complicates stimulus plan of more spending, tax breaks," Saturday news story. For the fiscal year ending Sept. 30, we experienced the worst federal deficit since 1945. The Treasury Department announced a $1.4 trillion deficit, nearly 10 percent of the gross domestic product, and nearly $1 trillion more than the 2008 deficit. I was very disappointed that The Dallas Morning News buried that alarming news on page 17A. It is not only a tragedy that our government has failed so miserably in managing our money, but it tried tried to hide the news in a Friday afternoon press release. I would be embarrassed too if I had been trying to pay my Visa bill with my MasterCard. At this rate, the Obama administration won't have to turn out the lights when he finally leaves the White House in 2012. The electricity will already have been turned off for failure to pay the bill. Scott K. Latham, Carrollton
... or look at it in perspective The $1.4 trillion deficit for fiscal year 2009 equals nearly 10 percent of our gross national product. That's not so bad compared to 1945, when the deficit reached 21.5 percent of the GNP, considering George W. Bush's huge tax cuts for the wealthy, eight years of fighting two wars and the worst economic downturn since the Great Depression. Duane Wagner, Plano ![]() ![]() The entry "On the deficit: Play news bigger ..." is tagged: deficit , economy , George W. Bush October 9, 2009
Re: "Texas ranks nearly last in getting funds -- Disparity partly because state spends less money on housing, Medicaid, college research," Sept. 28 news story. Texans are not fond of government handouts. This is, in part, why the Lone Star State is receiving fewer stimulus dollars. We'd rather earn it for ourselves fair and square. Unfortunately, our own government isn't giving us a fair shot at lucrative federal contracts, instead outsourcing them to foreign companies that take our jobs and taxpayer dollars overseas. For instance, French aerospace manufacturer EADS is bidding for the Pentagon's $35 billion contract to build a new Air Force airborne refueling tanker. Yet their tanker aircraft was funded using $5 billion of the same subsidies that the World Trade Organization has said are illegal. This is the same company that has been implicated in bribery and insider trading. The tanker contract could support a critical 44,000 jobs -- 3,000 in Texas. But if our Defense Department ignores EADS' illegal subsidies, those jobs and our tax dollars will be on the next the next flight to Paris. The Pentagon and Congress should penalize EADS for its illegal subsidies, and adjust its bid for the tanker contract to level the playing field. With the economy on the rocks, the last thing American workers need is for their own government to give them the short end of the stick. T.C. Gillespie, president, Tarrant County Central Labor Council, AFL-CIO, Fort Worth
![]() ![]() The entry "Texas needs an equal shot" is tagged: jobs , stimulus , Texas August 28, 2009
Mounting deficit concerns me Patsy L. Capps, Dallas
The ticking debt bomb John Smith, Frisco ![]() ![]() The entry "On the deficit ... " has no entry tags. June 16, 2009
Re: "Perry out of touch on jobless," by Tom Beene, Monday Letters. I am in touch with the jobless. I am having a difficult time surviving. But Gov. Rick Perry is doing what he thinks is best for Texas. With federal money comes additional government control. President Barack Obama is trying to have the government control everything in this country. I support keeping Texas free from complete federal control for as long as possible. Jim Damron, Lewisville
![]() ![]() The entry "Perry doing what's best for Texas" is tagged: Barack Obama , Rick Perry June 14, 2009
Re: "Call in the Army -- Reserves can offer 'human capital' to employers," Wednesday Editorials. The economy has been unsatisfactory for the past several months, but it seems to be recovering now. Unemployment has had a great impact on the veterans especially. I agree with Maj. Gen. Keith L. Thurgood, who says that not hiring veterans is a waste of talented people, because they should have jobs as a result of their training. The Employer Partnership Initiative is a concept that will benefit corporations and taxpayers. Despite these benefits, it has a downside for employees, because they could be called to active duty at any time. All this program provides is the sharing of employees. With all this information, I find the idea of joining the Army more appealing. In these hard times, college graduates are not finding positions in the workforce. If I were to go to the Army, I would be trained and guaranteed a job, which would make me feel secure. Evelyn Huerta, Dallas ![]() ![]() The entry "Benefits of joining the Army" has no entry tags. May 30, 2009
The Obama administration has expressed its displeasure with auto manufacturers, banks and insurance and mortgage companies over their irresponsible use of debt. To serve as a model for financially excellent behavior, the administration has created the largest aggregate debt in the history of the country. Not to worry, it will be just fine. Trust them. Karl Lombar, Richardson
![]() ![]() The entry "Feds model debt issues" is tagged: bailout , Barack Obama May 29, 2009
Ah, what's that slogan? What's good for General Motors is good for America. Ed Kominski, Weatherford
May 24, 2009
In the table with the story, under, "PBGC does not guarantee," you failed to mention the most important item the Pension Benefit Guaranty Corp. does not guarantee. It does not guarantee the most popular 401(k) plans and other defined contribution plans, including Employee Stock Ownership Plans. In these difficult financial times, when millions have lost their 401(k) accounts, people may be looking for guarantees of any kind and may incorrectly assume that their 401(k) plans are also guaranteed by the PBGC. Abul Khan, Coppell ![]() ![]() The entry "Many 401(k)s not guaranteed" is tagged: Economic crisis May 19, 2009
Re: "Buyers gain as dealers cut loose -- 44,000 bargains sit on Chrysler lots with just a few weeks to be sold," Monday Business. I guess everyone will have to start buying Fords -- unless those dealers go away, too. Daryl Murphy, Irving ![]() ![]() The entry "Why we'll all be driving Fords" is tagged: Chrysler , Economic crisis May 17, 2009
When the daily headlines seem like a constant stream of bad news, it's only natural to seek answers for the causes of the financial crisis. But we must not get sidetracked from taking necessary steps that will put us on the path to financial recovery. Most banks in Texas continue to do their part to keep our economy running. JPMorgan Chase made $6.4 billion in new loans and lines of credit during the first quarter, helping more than 300,000 Texas families and businesses. Fully $4.5 billion of this went directly to Texas consumers, including $160 million to 9,851 students for higher education -- up almost 150 percent from the prior three months. We lent $2.4 billion to provide 12,826 new home mortgages -- up 24 percent; and $550 million for 25,636 auto purchases -- up 81 percent. We are offering mortgage assistance programs to keep struggling families in their homes. Through these efforts, Chase has prevented about 150,000 foreclosures since October 2008. We have lowered payments for well over 80 percent of the mortgages we modified for borrowers who were behind on Chase-owned loans. With the cooperation of our customers and the government, I am confident that our economy will soon recover. Todd Maclin, executive vice president, JPMorgan Chase, CEO of its commercial bank, Dallas ![]() ![]() The entry "Banks doing their part" is tagged: Credit crisis , Economic crisis May 13, 2009
Re: "Federal deficit to top $1.8 trillion -- Government will have to borrow 46 cents for every dollar it spends," Tuesday news story. Edward Holman, Dallas ![]() ![]() The entry "Jettison this plan at warp speed" is tagged: Economic crisis May 11, 2009
Re: "I question the funding," by Barbara Alexander, Sunday Letters. Carol Perkins, Dallas ![]() ![]() The entry "Enough about the spending" is tagged: bailouts
I am writing to express my strong opinion against any legislation restricting credit card companies' ability to modify interest rates based on the credit risk of a consumer. John L. Lauer, Dallas ![]() ![]() The entry "Let credit card issuers alone" is tagged: Credit cards April 30, 2009
If the Obama administration turns loans into GM stock, you won't like what you get. David Bishop, Coppell ![]() ![]() The entry "Just say no to UAW?" is tagged: GM , UAW April 28, 2009
Gene Furlong, Dallas ![]() ![]() The entry "HP economy hit hard" is tagged: Highland Park April 21, 2009
Re: "Even billionaires feel the blues -- Downturn shrinks fortunes of Dallas' super rich, has some juggling debt," Monday news story. Daryl Davis, Dallas ![]() ![]() The entry "Weeping for billionaires' losses" is tagged: Economic crisis April 6, 2009
My husband and I have been trying to purchase a home for the past three months. We have been looking at foreclosed homes. Jessica Evans, Dallas ![]() ![]() The entry "We're stymied on buying house" is tagged: Banks , housing April 5, 2009
Re: "Living large, minus all the gluttony -- How do we make pursuit of the American dream more satisfying, less selfish? asks Maureen Dowd," Thursday Viewpoints. Frank Timmins, Dallas ![]() ![]() The entry "Gluttony is really growth" is tagged: economy April 4, 2009
Letter proved instructive Marian Rowe, Dallas
Finally, another side emerges Ronald M. Wade, Rockwall
Stranger than fiction Lynn Hale, Dallas
Just where was Jake's whistle? Curt Carpenter, Dallas ![]() ![]() The entry "On AIG's executive resignation letter in Points" is tagged: AIG
Re: "Budget plan stresses restraint Senate -- GOP leaders say big initiatives too costly despite stimulus," March 26 news story. Anne Sandfort, McKinney ![]() ![]() The entry "Pension at risk of running dry" has no entry tags.
Of course, Wagoner muscled out John D. Heard, Rockwall
Most AIG staffers unjustly blamed Jack P. Gibson, Dallas
I fear impending socialism Robert McIver, Garland
Model depended on spending John Biggers, Highland Village
Michael Herrington, Garland ![]() ![]() The entry "On the economy and GM" is tagged: economic , GM April 2, 2009
Re: "Capitalism without capitalists -- Why does Geithner have to bribe investors to take risks? wonders Daniel Gross," Sunday Points. Tom Jones, Garland ![]() ![]() The entry "Taxpayers stuck with the bill" is tagged: Economic crisis , economy , Timothy Geithner April 1, 2009
Re: "U.S. behind the wheel -- Obama demands restructuring before GM, Chrysler receive more federal aid," Tuesday news story. Everett Simonds, Dallas ![]() ![]() The entry "Will other culprits quit?" is tagged: Barack Obama , Chrysler , economy , GM , Rick Wagoner March 29, 2009
Re: "Industry groups back health care bills," Wednesday Business. Nancy Nielsen, president, American Medical Association, Washington ![]() ![]() The entry "In health care, prevention is key" is tagged: Health care March 28, 2009
Polly Cooper, Dallas
Congress, feel the pain Ken Bowen, Dallas Bonuses just red herrings Sure the AIG bonus issue stinks. You would have to be living under a rock to figure out that everybody, including our president, knew what was going on. Doesn't it send up some red flags when that is what everyone is focusing on, when there are much bigger dollars being taken out of our pockets? Either wake up, America, or get out your checkbooks. You are being hoodwinked. Lana Rice, Richardson
Seeing through Congress' ire Rafael Cavanna, Coppell
Arguing over chump change Mike Odell, Dallas
The AIG case study David G. Carroll, Dallas
Congress distracted, spineless Ron Blagg, Dallas ![]() ![]() The entry "On the economy: The AIG conundrum" is tagged: AIG , Barack Obama , Economic crisis , Edward Liddy , Timothy Geithner March 24, 2009
When Ronald Reagan was elected president after the disaster of Jimmy Carter, the economy was a lot worse than it is today, despite the rhetoric out of the White House and Congress. John Castles, Dallas ![]() ![]() The entry "Hands off worked for Reagan" is tagged: Economic crisis , Jimmy Carter , Ronald Reagan
Re: "Straus disagrees with stimulus plan," Saturday news story. Brenda Levy, Plano ![]() ![]() The entry "Democrats take the fall again" is tagged: Democrats , economic stimulus , Joe Straus , Republicans March 23, 2009
John Stettler, Dallas ![]() ![]() The entry "Pay attention to jobs at home" is tagged: Afghanistan , Economic crisis , Iraq March 22, 2009
Re: "Stop outsourcing, for a start," by Kathy Weaver, Wednesday Letters. Connie Hutzell, Dallas ![]() ![]() The entry "Help companies hire Americans" has no entry tags. March 21, 2009
Re: "We're creating jobs, not taxes," by Rick Perry, Tuesday Letters. Paul E. Reeves, Farmersville
... and over-taxed employers Terry Willis, Irving ![]() ![]() The entry "Rick Perry on stimulus: Out of touch with jobless ..." is tagged: Rick Perry , stimulus March 20, 2009
Re: "Why Perry is correct," by Lester Fyshe, Thursday Letters. Rodney W. Pirtle, Farmers Branch ![]() ![]() The entry "What's good for the party" is tagged: Rick Perry , stimulus
I'm amazed that people are upset with the AIG bonuses only because they received a taxpayer bailout. I'll go a step farther and ask how a company can justify $160 million in bonuses even during good economic times? Such a business that skims that much profit for so many employees must have serious contempt for its customers to begin with. Mark A. Clark, Weatherford ![]() ![]() The entry "Salary excess never appropriate" has no entry tags. March 19, 2009
I don't see much difference between Bernie Madoff and AIG executives, except Madoff will be the only one who will have to pay for his crime. Amy Powell, Dallas ![]() ![]() The entry "AIG execs go scot-free" is tagged: AIG , Bernard Madoff
Re: "After federal bailout, AIG to give $100 million in bonuses -- Firm says it's legally bound to pay executives whose unit nearly ruined insurer," Sunday news story. Elizabeth West, Westbury, N.Y. ![]() ![]() The entry "Don't support AIG" is tagged: AIG March 18, 2009
Re: "With money to invest, I'd be rich," by Ron Lowe, Tuesday Letters. Bob Brown, Poetry ![]() ![]() The entry "Would you catch flying money?" is tagged: Economic crisis March 17, 2009
Isn't it strange you never hear right-wing radio acknowledge that there are millions of liberals, leftists and Democrats who pay taxes too? Therefore, it's not just Republicans' money being taken from them and redistributed. Joe Holmes, Arlington ![]() ![]() The entry "It's liberals' money, too" is tagged: Economic crisis
I keep thinking about how President Barack Obama is going to solve the financial crisis in the U.S. Kathy Weaver, Forney ![]() ![]() The entry "Stop outsourcing, for a start" has no entry tags.
Re: "When the repairman turns radical -- Rod Dreher wonders: What happens when ordinary Joes lose faith in civil society?" Sunday Points. James Phipps, Dallas ![]() ![]() The entry "Who's there for us?" is tagged: Rod Dreher March 16, 2009
Re: "Should the president succeed?" by Greg Mahan, Richardson Patricia A. Tharp, Dallas ![]() ![]() The entry "Success depends on support" is tagged: Barack Obama , Health care
While I view the money lost by Bernard Madoff's Ponzi scheme a tragedy for both individuals and charitable organizations, I am still confused as to why Madoff's crime is continually reported as the largest Ponzi scheme ever. Could someone please explain how that title isn't reserved for the current Social Security system? Mark Phares, Dallas ![]() ![]() The entry "Feds do bilking bigger" is tagged: Bernard Madoff
Things look bleak. I wish I had money to invest in the stock market now. This is the best opportunity I've seen in my lifetime. Ron Lowe, Harlingen ![]() ![]() The entry "With money to invest, I'd be rich" has no entry tags. March 15, 2009
Re: "Perry rejects part of stimulus - Dems angry as he calls $556 million for jobless a burden on business." Sandy Elkins, Plano
... so feds can't control us ... Lynne Martin, Mesquite
... but workers need assistance Linda Feldman, Fairview ![]() ![]() The entry "Perry rejects stimulus: Perry refuses to help us ..." is tagged: Rick Perry , stimulus March 13, 2009
If President Barack Obama succeeds, taxes will go up dramatically, your health care will be controlled by bureaucrats, cap and trade will drive energy costs through the roof and the national debt will reach incomprehensible levels for generations to come. Greg Mayhan, Richardson ![]() ![]() The entry "Should the president succeed?" is tagged: Barack Obama , Health care March 11, 2009
If anyone could accurately predict anything related to the economy, he or she would have predicted the recession and the mortgage bust. There were no experts before this recession began, and there are certainly even fewer experts now. Tim Fox, Irving ![]() ![]() The entry "Is the end in sight? Who knows?" is tagged: Economic crisis March 8, 2009
Re: "A new direction -- It's up to moderates to fight the president's uber-partisan tendencies, says David Brooks," Wednesday Viewpoints. Stephen Brueckner, Garland ![]() ![]() The entry "Tax aims for class equality" is tagged: Barack Obama , Bill Clinton , David Brooks , George W. Bush , Republicans , Taxes
As a retired CPA, I am perplexed by the Bernard Madoff and R. Allen Stanford Ponzi schemes. I have to ask: Where were the auditors? Such investment firms should be audited and CPA auditing procedures should at least disclose whether or not there were actual investment trades going on, not to mention the accuracy of financial statements. Mike Collum, Wylie ![]() ![]() The entry "Firms need mandatory audits" is tagged: Allen Stanford , Bernard Madoff
Newspapers are piling up in the corner, and I feel as though I am sitting on the tracks waiting for the train. Bobbie Keith, Garland ![]() ![]() The entry "Keep close eye on Congress" is tagged: Economic crisis , Timothy Geithner March 5, 2009
Re: "GOP should cooperate," by Jerry D. Teitelbaum, Sunday Letters. Ken Dickson, Rockwall ![]() ![]() The entry "Checks, balances on Obama" is tagged: Barack Obama , Economic crisis March 4, 2009
Why is President Barack Obama so determined to bail out the big banks while millions of hard-working American families are drowning in credit card debt? If those banks disappeared, so would that debt. Mitchell Diamond, Nacogdoches ![]() ![]() The entry "Obama doesn't really care" is tagged: Banks , Barack Obama , Economic crisis
Re: "A plan to save auto worker jobs," by George Venner, Saturday Letters. Carol Seeley, Rockwall ![]() ![]() The entry "Unfair cost to taxpayers" is tagged: Economic crisis , economic stimulus , GM March 3, 2009
Mac Smith, Dallas ![]() ![]() The entry "Leppert's experience pays?" is tagged: convention center hotel , Tom Leppert
I am not at all happy with what has taken place in our country, with loss of savings for my family, my friends and obviously to millions of other Americans. Why are we not up in arms about this? I am a member of the "silent majority" in age. I am tired of being silent while business executives and legislators, who were to provide oversight on all of this financial and mortgage business, did nothing - at our expense. I am tired of hearing about what is going to be done to straighten this out. Stimulus package? It is not going to stimulate my retirement. I am going to be nonpartisan: Why are the American people (rich people, poor people, middle-class people) not screaming and hollering about what has happened - particularly those who have lost their jobs through no fault of their own? We are all suffering. We have no mechanism to turn to so that our voices can be heard. Maybe nobody is upset, as I am, with what has taken place. I don't want my tax dollars spent this way, but it does not do any good for me to holler at my senators and Congress members. They voted against this stimulus plan. I am so frustrated that it has gotten to this point: We need to stand up and be counted. How do we do that? Or is it so late that we will just have to grin and bear it? Sorry. I can't do that anymore. David Leopard, Richardson
![]() ![]() The entry "I'm tired of being silent" is tagged: economic stimulus , Taxes March 2, 2009
The Democrats believe that the only way to get out of debt is to spend more money. The way President Barack Obama is spending, he should have us out of debt in no time. John Watson, Cleburne ![]() ![]() The entry "Can't spend way out of debt" is tagged: Barack Obama , Democrats , Economic crisis , economic stimulus
Republicans held the White House for the last eight years and both houses of Congress for 12 of the last 14 years. During that time they deregulated, privatized, cut taxes (during two wars), handed out no-bid contracts and passed favorable legislation for big-time donors. Curtis Williams, Richardson ![]() ![]() The entry "GOP at fault" is tagged: Congress , Republicans , Rick Perry , White House
Re: "Take the Money Wisely -- Legislators should beware of strings in stimulus," Thursday Editorials. Deborah Rhodus, Dallas ![]() ![]() The entry "Texas needs that money" is tagged: economic stimulus , legislature , Rick Perry
Re: "Big on What, Not How -- Obama speaks convincingly but skirts debt relief," Thursday Editorials. Gordon Pence, Plano ![]() ![]() The entry "Give stimulus a chance" is tagged: Barack Obama , economic stimulus , GOP
Now that Texas is slated to receive roughly $17 billion in stimulus -- a large portion of which is destined to be applied toward road infrastructure -- do we still require a foreign company to own and operate toll roads? Or is the concept of forcing taxpayers to pay twice for roads the status quo in Austin? Joseph Kimrey, Dallas ![]() ![]() The entry "Why not use stimulus money?" is tagged: economic stimulus , Toll roads February 28, 2009
George Loegel, Austin Republicans need orator Some say that the national Republican Party needs to reach out to ethnic minorities. Some say that the party needs to return to its fundamental principles. Given the past presidential administration, the 2008 final campaign, and recent media appearances, it seems that the Republican Party really needs to find someone who just has the ability to talk. Ronald Reagan was the last one. Ed Kominski, Weatherford
Pledge comes to pass Ralph Foster, Plano It's the economy It was refreshing to hear a presidential address to Congress that didn't mention the word "terrorist" in the first 10 minutes. Finally, we have a president who is rationally addressing this horrid economy he has inherited. Roy Vinson, Wylie Top earners to be honored While I understood every word of President Barack Obama's speech, why did he single out the top 2 percent as if it were the enemy? To succeed and become wealthy is honorable. Gov. Bobby Jindal was a disappointment. He talked as if he were canvassing for the next elections. The president was bold, truthful, positive, optimistic and practical, and we should all be grateful for him to be the leader in these adverse times. Kailas Nathan, Plano
Some firms need to fail Andy Kercher, Plano GOP falls short I was struck by the Republican reaction to President Barack Obama's announcement that the children's health bill had passed. The Republicans sat without applauding, but wildly applauded tax cuts. Gov. Rick Perry launched an attack on abortion and sending money to agencies in Africa that may allow abortions while trashing the stimulus plan, adding that he would take the money. The Republican Party deserves better. William A. Mercer, Richardson Too much, too fast As President Barack Obama outlined the largest grab for government control over our lives perhaps in U.S. history, coupled with trillions in spending increases, House Speaker Nancy Pelosi literally laughed out loud at the visions of the enormous power the president is placing in her lap. Obama's vision for America, shoved quickly down the throat of a country thrown into panic by Obama himself, will greatly expand the government's reach into our lives and pockets. I saw Americans' liberties and property rights melting away like wax on a lit candle. Obama's public rating, still high but dropping slowly, shows that I am not alone in believing this blatant grab for federal power is far too much, far too quick, far too costly, with far too little consideration for our future. Michael Hopkovitz, Dallas GOP should cooperate During the campaign, President Barack Obama promised to change the tone in Washington -- to bring a sense of bipartisanship to what in the past has been a partisan place. During his next address, I suggest Obama remind Republicans that the American people elected him to lead us out of this mess, and either they lead with him, follow him or get the hell out of the way. Jerry D. Teitelbaum, Duncanville
![]() ![]() The entry "On Obama's speech to Congress: Stark contrast with GOP" is tagged: Barack Obama , Bobby Jindal , Democrats , economic stimulus , Reagan , Republicans
Ronna Schmoker, Addison ![]() ![]() The entry "Pilot pay? We're all hurting" is tagged: Economic crisis February 27, 2009
Our president stresses new jobs, which is good. Why not protect the jobs of so many autoworkers and do something to stop the layoffs in this industry? My suggestion is to give a rebate on every vehicle manufactured in the U.S. to the purchaser. George Venner, Mesquite ![]() ![]() The entry "A plan to save auto worker jobs" is tagged: Automakers , economy , GM February 26, 2009
Re: "Government bailouts are undermining capitalism -- Obama's team could be bringing end to American dream, says Star Parker," Tuesday Viewpoints. Stanley F. Nelson, Dallas ![]() ![]() The entry "Greedy executives to blame" is tagged: bailout , capitalism , Economic crisis
Phil Bauer, Plano ![]() ![]() The entry "Practical plan for automakers" is tagged: auto makers , Economic crisis , GM February 24, 2009
Pat Justice, Flower Mound ![]() ![]() The entry "Not fooled by stimulus plan" is tagged: Barack Obama , Democrats , Nancy Pelosi , Rick Perry February 22, 2009
This new stimulus package is nothing but a welfare giveaway. I have lived in my house since 1988. There have been many times that we had to do without essentials just to pay our mortgage. There were times that we paid it late, but it got paid. Since we are not behind on our payments, no one is going to give us some of the pork being served up to so many other people. Nancy Dominguez, Rowlett
Scary fast is more like it Andrew Minigutti, Dallas ![]() ![]() The entry "No stimulus for responsible" is tagged: economic stimulus February 21, 2009
Joseph H. Betts, Richardson
Pet Democratic projects approved Chris Moore, Tyler
Do the right thing, Texas ... Don Jones, Fort Worth
... or can't they see it? Mark Harrington, Dallas
Please tell me how it will help Cynthia Stock, Garland So what else could we do? As members of Congress posture about all that is wrong about the stimulus bill, yet fail to present alternative solutions, it is easy to reflect on the comments from Sam Rayburn: Any jackass can kick a barn down, but it takes a carpenter to build one. Enough said. Anne Buckley, Dallas Collective cheer from GOP Many of the Republican congressmen who voted against the stimulus package were privately relieved that the legislation passed without them having to vote for it. They will have to wait and see how this maneuvering plays out the next time they are up for re-election. Sen. John Cornyn was just re-elected, so he doesn't have to worry about appearing to be reasonable for several more years. Mark Cargill, Dallas I'm just right for a check Being 67, I'm expecting a large check from the Obama stimulus plan because I fall into the category of shovel-ready. Ray Hopkins, Coppell ![]() ![]() The entry "On the economic stimulus: No other guarantees for prices" is tagged: Barack Obama , Congress , Economic crisis , economic stimulus , John Cornyn , Rick Perry February 18, 2009
Re: "Iceberg, right ahead -- We can't wait to deal with the $56 trillion in looming national debt, says William McKenzie," Tuesday Viewpoints. Barry Applewhite, Plano ![]() ![]() The entry "Icebergs looming for a while" is tagged: Barack Obama , Dick Cheney , Economic crisis , George W. Bush February 17, 2009
Linda Jackson, Grand Prairie ![]() ![]() The entry "These days, wardrobe irrelevant" is tagged: Economic crisis , Michelle Obama February 15, 2009
Lee Moore, San Diego ![]() ![]() The entry "The high life on Texas' dime" is tagged: Economic crisis
Re: "Talking Points," last Sunday Points. Michael Amonett, Dallas ![]() ![]() The entry "Sessions' Taliban strategy" is tagged: Economic crisis , Republicans , Taliban
Helen Pomerantz, Allen ![]() ![]() The entry "Steep rates stifle rebound" is tagged: Economic crisis
Re: "Budget gap hits more than $58M -- Property values' dip may worsen shortfall; tax increase possible," and "$2 trillion question -- Revised bank bailout unveiled; Senate OKs stimulus Discussions to reconcile bills on fast track," Wednesday news stories. Cate Hardman, Dallas ![]() ![]() The entry "Dallas County can do without" is tagged: Dallas County , Stimulus bill
Re: "Finding a better answer," by Buddy Byrd, Wednesday Letters. Phil Krejci, Corsicana ![]() ![]() The entry "Record deficits tell the story" is tagged: Barack Obama , Bill Clinton , Jeb Hensarling , Liberal , Republicans February 14, 2009
Re: "$2 trillion question -- Revised bank bailout unveiled; Senate OKs stimulus -- Discussions to reconcile bills on fast track," Wednesday news story. Bill Simpson, Plano
Gerald Bunger, Sunnyvale
Donny Clifford, Grand Prairie
Stan Rothschild, Dallas
Shelton Stogner, Richardson ![]() ![]() The entry "On the economy: It's going to be a bumpy ride" is tagged: Barack Obama , Economic crisis , economic stimulus February 13, 2009
If senators Kay Bailey Hutchison and John Cornyn continue to vote against every opportunity they have to avoid a depression, they'd better fire up their ovens and start baking bread. The lines are forming. Sue Traylor Sturgeon, Dallas ![]() ![]() The entry "Senators ready for bread lines?" is tagged: Economic crisis , economic stimulus , John Cornyn , Kay Bailey Hutchison
Robert Kersey, Dallas
![]() ![]() The entry "A fix for today's economy" is tagged: Economic crisis , Reagan February 12, 2009
Re: "Bipartisanship? Obama needs to stop talk of doom and gloom, says Mark Davis," Wednesday Viewpoints. Billy Kirby, Frisco ![]() ![]() The entry "Deal with GOP's loss" is tagged: Barack Obama , Mark Davis February 11, 2009
Normally I would never comment on an advertisement in The Dallas Morning News. But Monday's newspaper included a full-page ad from the Cato Institute asking President Barack Obama not to get the government involved in the economic crisis in our country. John Crawley, Dallas ![]() ![]() The entry "Protesters happen to have jobs" is tagged: Economic crisis , Stimulus bill
No problem is so bad that Congress can't find a way to make it worse: We have a financial problem caused by excessive borrowing to spend on things we can't afford. So Congress comes up with the solution -- borrow more. John Singel, Fairview ![]() ![]() The entry "Deeper into debt" is tagged: bailout , Congress , stimulus February 9, 2009
Jobless glimpse in poor taste ... Jo Murrell, Dallas
... but here's idea in good taste Kathleen Pelletier, Garland ![]() ![]() The entry "On losing a job while being upper middle class" is tagged: Economic crisis February 8, 2009
Re: "Entitled to Much Less -- The ground is shifting beneath Daschle and his ilk," Thursday Editorials.I don't know why anyone is surprised that banking executives continue to pay themselves outrageous bonuses while their banks are losing money, laying off workers and they have their hand out to the government. Steve Long, Dallas ![]() ![]() The entry "Taking care of their own" is tagged: economic stimulus , Tom Daschle February 7, 2009
Shift strategy Immigrants will help recovery Andrew Goldsmith, Irving
![]() ![]() The entry "The stimulus" is tagged: economic stimulus , Illegal immigration
What happened to the idea that a bonus is given as either a reward for exceptionally good job performance or as a way to share some of the profits with employees when a company has had a good year? Such a policy worked well in the past. It encouraged employees to do a good job and management to run the company in a responsible fashion. How have we gone from this to a system that rewards failure, sometimes at taxpayers' expense? Trudy Hess, Dallas ![]() ![]() The entry "Bonuses shouldn't be a given" has no entry tags. February 6, 2009
Re: "Easing education budgets," by Eddie Bernice Johnson, Monday Letters.Where did our country go wrong? Johnson believes that borrowing and spending $79 billion dollars is a good thing. Everyone wants a better future for our children, but how is enslaving them to this kind of debt going to provide them a better future? Mike Grayson, McKinney ![]() ![]() The entry "Education, with interest" is tagged: Dallas , dallas schools , economic stimulus , Education
Re: "Stuck in the muck -- House plan helps big government more than economy, says Jeb Hensarling," Monday Viewpoints. Jim Barber, Dallas ![]() ![]() The entry "Hensarling is still digging" is tagged: Jeb Hensarling February 5, 2009
Re: "Stuck in the muck -- More tax cuts, less spending is a broken GOP refrain, says Eugene Robinson," Monday Viewpoints. Ed Bellow, Frisco ![]() ![]() The entry "Better to have strong taxpayers" is tagged: Economic crisis |