To the Editor:
After reading Mr. Puentes’ letter in the Oct. 24 Daily Chronicle, there are several inaccurate statements, including: We are going into Obamacare blind; the stimulus failed; we are not better off than four years ago; and the economy is not improving.
The financial soundness of the Affordable Care Act (Obamacare) has been determined by several independent organizations. It was developed by the same individual who developed the program for Gov. Mitt Romney in Massachusetts. The Affordable Care Act will insure an additional 25 to 30 million more people. Presently, the costs of caring for the uninsured are being absorbed in higher premiums for the rest of us. The article titled Big Myths About Medicare and Health Care Reform (Oct./Nov. 2012 issue of AARP, page 66) is a must-read if you wish to determine the real facts.
The stimulus involved more than $700 billion, and the program was initially approved under the prior administration. It was necessary to eliminate the complete financial meltdown of the U.S. economy. The money went to banks, the auto industry, green energy and state and local governments. Almost all the money has been repaid, with interest. Of the green energy projects funded, only eight percent failed.
A major corporation or Wall Street investor could not possibly say they are not better off than four years ago. Corporations are reporting record earnings and the Dow Jones industrial average has increased 70 percent under this administration. The unemployment rate has dropped below 8 percent, retail sales are the highest in two years and housing starts are the highest in four years. These facts are from nonpartisan economic reports. Small-business owners say there are 600,000 manufacturing jobs within the U.S. that remain unfilled because of a lack of skilled workers (Crain’s Chicago Business, Oct. 20, 2012). What if the House of Representatives had approved just a few of the job-training bills presented to them by the Senate?
More than 70 percent of our economy is based on consumption. Can we agree that the middle class spends a larger percentage of its income on consumption than the wealthy?
I will be supporting President Barack Obama, who has proven he believes in and supports the middle class, American workers and the American dream. Let’s move forward rather than elect a candidate who has been on every side of almost all major policy questions. If elected, what position would he actually take once in the White House?