October 14, 2012 in Letters, Opinion

Selective amnesia on economy

 

In his letter of Oct. 7, Dale Magart argues that Americans are worse off than they were four years ago. He says that recent gains in jobs are exaggerated, that the new health care initiative will bankrupt the country, and that although the automobile industry did manage to survive, the Chevy Volt is too expensive anyway.

These are persuasive arguments only if you have amnesia. Most of us remember that four years ago no one was arguing about the amount of job gains because there were only job losses, and because the real threat was the possibility of a worldwide depression.

Under the no-regulation policies of President George W. Bush, the housing bubble burst, the stock market crashed and millions of people lost their homes. The rise in the national debt actually began, not with a health care initiative that has not even taken effect yet, but when President Bush launched two expensive wars and then cut the taxes that should have paid for them.

As for the Chevy Volt, four years ago the question was whether there would be a General Motors around to build any kind of car at all.

Those are the good old days Magart recommends to us.

Bill Stimson

Spokane


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