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Capital gains

June 8, 2012
Morning Journal News

Editor:

It would appear we have a man in the White House who refuses to exercise any knowledge of simple economics. In his numerous speeches he has never mentioned what every American with a checking account knows, that no person or country can spend more money than is coming in and not eventually find themselves in deep trouble.

The president to my knowledge has never mentioned to the public our $15 trillion national debt and the consequences facing this country if we allow this horrendous amount to continue to grow. The president's many speeches are loaded with all the great things he has accomplished in the last three years and that even greater things will happen if we allow him to stay in the White House four more years.

Where is that open transparency we heard so much about during those numerous campaign speeches he made in 2008? In all fairness we cannot hold Obama responsible for the entire debt, because he did inherit most of it from past administration. However, the short time it took him to tack on another $3 trillion for his so-called stimulus program has to be come kind of record.

The president appears to be oblivious to what is happening around him and I believe he has a strong distaste for capitalism.

For those who are not aware of the full meaning and extent of the socialist state, I quote from the dictionary, "A political and economic theory of social organization advocating state ownership and control of the means of production, distribution and exchange."

How could anyone believe we would be better off with a system like this in place? When are we going to wake up and begin learning from history? History has always been the most reliable guide when planning and shaping the future, we cannot ever afford to ignore it.

Capitalism for all its weakness and greed allows us to function as individuals and exercise our God-given rights and not depend on the government for all the things we should be deciding for ourselves.

Leon White

Columbiana

 
 

 

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