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Cheap Trick
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Published: September 23, 2008
Updated: 09/22/2008 09:15 pm
The oil-drilling legislation proposed by the Democrats in Congress is another cheap trick ("Carolina coast part of drilling plan," Sept. 17). The current moratorium on offshore drilling is about to expire, so they propose legislation that will allow drilling where there is no oil (100 miles offshore). They will allow some states to move it to 50 miles, but why should they, since, unlike current offshore drilling, this legislation eliminates any revenue-sharing with the states? It also calls for releasing oil from our strategic oil reserves. What part of "strategic" don't they understand?
We need a comprehensive oil-drilling program in the short term to provide time needed to pursue renewable sources of energy (hydrogen, wind and solar), compressed natural gas and nuclear. But this legislation will achieve nothing, and good for Rep. Virginia Foxx for voting against it. If Sen. Barack Obama is elected, there will be no stopping Pelosi-Reid!
GEORGE W. DICKSON
Pfafftown
Real Gem
What a real gem we have in the Democratic candidate for Congress in the 5th district! Roy Carter has a long history of involvement in his community, whether it be through his years of teaching and coaching or working with Habitat for Humanity. As an educator, he created programs that fought illiteracy, drug and alcohol abuse and high drop-out rates. As the son of a farmer and a farmer himself, he understands the challenges facing our family farmers.
Carter also understands that the future prosperity of our area demands a work force that is educated and prepared to take advantage of new opportunities of green technology and development. He has called for a regional economic development summit for all 12 counties of the district so that no area is left behind. He will not pit urban against rural interests, but will serve all constituencies with equal dedication.
It will be a refreshing change to have a representative in Congress who understands the real issues facing the 5th District. That is why I am pleased and excited to support Roy Carter for Congress.
GERALDINE ZUREK
Winston-Salem
Numbers
An old accounting axiom is "the numbers don't lie." Faced with political spin from all sides, Republicans and Democrats alike must look at the results of our first MBA president, George Bush.
The national debt today is $9.7 trillion, up $4 trillion under Bush. The future costs of both unresolved wars and the recent Fannie Mae/Freddie Mac takeovers are being passed on to the next president. These Bush-term liabilities could easily raise the total Bush-contributed national debt to over $11 trillion.
If the Bush administration had been a business, it would have failed early on and would have been quickly, and mercifully, driven into bankruptcy. Company directors would have fired the CEO and brought in a new team. Our democracy provides no such "free-market" protection against continued gross incompetence. Our only protection is our ballot.
Our children and grandchildren will pay an even higher price if we continue to be distracted by the spin, ignore the truth in the numbers and vote in the same team that has bought us the last eight years.
RICHARD B. HILTON
Advance
Too Big
If the government were a corporation, it would be seeking bankruptcy protection. Following the bailouts of Bear Stearns ($29 billion), Freddie Mac and Fannie Mae ($200 billion), and American International Group Inc. ($85 billion), who will bail us out with a $400 billion deficit and a $9.7 trillion national debt? China?
When companies fail to generate sufficient revenue to account for their liabilities, they should endure the natural consequences of that failure -- so I once thought -- and if these companies were "too big to fail," then they were too darn big! Our government unfortunately must tax for revenue, and while we cannot solely "tax our way out of this mess," we must be practical. It will take taxes and a reduction in spending to dig out -- if we still can.
Meanwhile, maybe some executives lost their golden parachutes, but I'll bet they've banked enough of their exorbitant yearly bonuses to retire to the Hamptons in luxurious comfort. What about the lower-level employees who lost their retirement?
I wonder why we're not outraged and taking to the streets French Revolution style, but I'm usually disappointed in our collective apathy. No matter -- let's all go to Wal-Mart and be good little consumers.
FRANK LEAK
Winston-Salem
Bad Days
I am a retired teacher, and American International Group Inc. bought out the company that managed my retirement annuity. For 20 years my husband and I did without so that we could put money from my paycheck into savings. We just spent some very bad days, afraid that AIG would collapse and take our retirement support with it ("U.S. agrees to bail out AIG," Sept. 17).
I am thankful for the Federal Reserve bailout, but very angry that our economy could be in such chaos. President Bush inherited a budget surplus and is leaving the country substantially damaged and deeply in debt. Gov. Sarah Palin has said that Washington has been asleep at the switch. I assume she's talking about Sen. John McCain, who has spent the past 26 years in Congress. At a news conference, McCain said that he didn't know much about economics but had bought Alan Greenspan's book.
That ignorance and his 95 percent voting record for the administration's failed policies make certain that he doesn't get my vote.
ELIZABETH L. SANER
Kernersville
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