To the Editor:
Freedom That's what Mitt Romney says he wants to bring back to America. Freedom is the code word for tax cuts for the rich, deregulation of Wall Street and freedom for corporations to do as they please.
When George Bush took office in 2001, he inherited a $5.7 billion surplus. When he left in 2008, the U.S. had a $11.5 trillion deficit. The Bush administration was responsible for two tax cuts, two wars, a senior drug benefit, the meltdown on Wall Street and the collapse of the housing market. He was also the architect of TARP. Beyond that trillion dollar bailout, financial institutions in the U.S. have received an additional $16 trillion from the Federal Reserve. With these actions, 40 percent of our wealth is now in the hands of 23 billionaires. The Wal-Mart family has more money than the bottom 40 percent of Americans.
Eight million families have lost their homes. We have lost 150,000 factories to China, Mexico and beyond. Is it incomprehensible to think citizens might need unemployment, food stamps, welfare or retraining?
Now the Supreme Court has ruled that corporations are people. That leaves the rich in charge of everything. We have devolved into an oligarchy/plutocracy - reminiscent of America's early history. Truth in advertising is an oxymoron. In the old days when someone told a whopper of a lie, we said "Liar, liar, pants on fire."
I know whose pants are on fire, do you?