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posted: 10/12/2012 4:33 AM

America sure has been transformed

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America sure has been transformed

In regard to Fence Post rants about "tax breaks for the rich" being so terrible, with no factual justification for the negative slant, I submit the following facts:

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In the 3.5 years of the Obama presidency GDP has grown only 6.7 percent, 1.6 percent in first half of 2012, deficit spending has increased, total debt exceeds $16 trillion, Treasury bonds have a negative yield for the first time in history, bond ratings have been reduced by S&P, Egan-Jones and

soon will be by Moody's, and the Federal Reserve's low interest policy has virtually eliminated positive returns on individuals' savings accounts.

All this because of policies established by the Obama administration which is built on deficit spending and government control over the economy, which includes control over energy and health i.e., pipelines, drilling and "Obamacare."

By contrast, in the 3 years of Reagan's presidency, 1983-85, GDP grew 18.5 percent. based on policies of low tax rates, a sound dollar and limited government. Subsequently, the country enjoyed 20 years of unprecedented prosperity. Why the profound differences being wrought by the party currently in power are not apparent to all is mind-boggling. And, I do recall Obama's vow to "fundamentally transform America." He certainly is doing a great job of it.

Don Buck


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