Economic suicide

Thousands of pages of legislation have been sent to Congress under the premise of correcting this nation’s serious economic problems. These problems are the result of irresponsible management by the Bush administration, secretary of the Treasury, Securities and Exchange Commission, Federal Reserve and the people in Congress who are responsible for oversight. This was exacerbated by greed and stupidity by many of the financial and mortgage institutions and people in Congress like Barney Frank and organizations like ACORN, who demanded home mortgage money be made available to everyone regardless of their ability to repay.

This “crisis” has made the country vulnerable to legislation that has little to do with stimulating the economy but is intended to acquire and retain power at a price we can’t afford. Their proposals are beyond “faith-based economics”; they’re delusional.

We have several examples of reckless spending and high taxes: New York, Massachusetts, New Jersey and the “poster state” of financial insanity, California (now issuing IOUs). The common denominator: one-party rule.

To insist upon immediate passage of critical, complex and necessary legislation without essential study and debate is reckless and deceitful with probable consequences of economic suicide and generational theft.

David Hamer

Spokane