In William Lyons? Dec. 15 letter, he laments congressional partisanship and implies Republicans are responsible ? plus they blocked the magnitude of the Obama stimulus package.
How? Democrats were in complete control of all branches of government when the stimulus was created.
President Roosevelt did engage in modest deficit spending, but realized financial integrity/security means a balanced budget.
Apparently President Obama rejects this fact and believes that overspending and borrowing more money will end a depression. Why did the Great Depression last so long ? 1929 to 1940? How long will the current depression last?
For both, the answer is ? and was ? end federal intervention. The private sector provides jobs and job creation. Excessive regulations and uncertain tax policies prevent this.
How much longer can President Bush be blamed for the current mess?
Warren G. Harding presided over the 1920-21 Depression. He did nothing but cut federal spending. Unemployment went from 11.7 percent to 6.7 percent to a low of 1.8 percent.
Do we really want to repeat the Great Depression but this time on steroids?
Partisanship is a two-way street. A close look will reveal partisan Democrats and President Obama do not want compromise.
It?s either their misguided way or the highway.
?? Bill Megan, Rockford
Source: http://www.rrstar.com/opinions/whatyouresaying/x1569722195/Letter-Economy-not-GOP-s-fault
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