Time to get back to paying as we go
As we move from the housing mortgage crisis, to the credit card crisis, to the early stages of the failing economy, and the enormous national debt, don't say we weren't warned over the last few years that this would happen. Yes, a few years ago, former Comptroller General of the United States (GAO) David Walker traveled across the country trying to convince anyone and everyone that would listen that the current fiscal policies of Washington and the Administration were on a path to financial ruin. GAO is the investigative arm of Congress that audits and evaluates the performance of the federal government. Who should better know? Obviously, no one would listen, nor did the media spend any time reporting GAO's concerns to the public at large.
Anyone that still believes in trickle down economics and free trade without restrictions after the last eight years is a pretty slow learner. "Free trade" too has forced our middle class to compete with countries whose people work 60 to 80 hours or more a week, with no regard for human rights or the absurd low wages. The tariffs and regulations of "fair trade" have disappeared, and jobs are being sent left and right overseas while our companies at home are shutting down. Even as our unemployment figures rise, and will continue to do so, they are misleading because so many of the people that lost good jobs are now moving to low-paying service jobs, if they can find jobs at all. As this continues, there will be no one left with money to purchase anything?
It is time to get back to trickle up economics that builds and maintains a strong middle class, not drag down our working force to third world standards of 60-to 80-hour work weeks for low pay and inhumane conditions. It is time to reward companies that keep jobs in America and penalize those that ship them abroad to the sweat shops. It is time to get back to "fair trade." It is time to get back to pay-as-you go budgeting, and it is time for the media to keep us better informed on the findings of our GAO in the future!
Leo A. Dietrich
Lake Villa