Consider the following digression. Sen. Harry Reid and President Barack Obama question Mitt Romney's investments overseas. Do you think the Obamas believe in investing in America, when 92 percent of their personal portfolio savings is in cash? The Obamas and Bidens - with Biden's money is sitting in nine checking and savings accounts - are not investing in America. Do you trust them to fix this economy when they have personal investment and debt issues? (Kiplinger's Personal Finance, Oct. 2012, page 35)
Bush started this war on the economy with TARP and his overspending. Obama continued with the stimulus program and QE infinity. Only we, the voters, can reverse this trend. How can you run a country without a budget, without an energy policy and without a foreign policy?
These career politicians and Congress have put the American way of life, as we know it, at risk along with the standard of living for future generations. We have this $16 trillion debt not because we are taxed too little but because our big government spends too much. If all millionaires were taxed 100 percent, it would cover less than three months of federal spending.
The federal deficit is growing at a rate of $3.5 billion per day. It costs us 30 cents for every $1 we borrow. If you spent $900,000 per hour from the time Christ was born to date, you would not reach $16 trillion. In February 2013, Congress will vote to increase our debt ceiling by another $2 trillion and our credit rating will be downgraded again.
We are on track to become another Greece, Spain, and Portugal with unemployment reaching 25 percent. This White House administration is replacing our free enterprise system with the European socialist welfare system, which depends on big government and taxes for survival. Don't throw your vote away by voting for a third-party candidate, like I did voting for Ross Perot. I urge you to vote against all incumbents until Congress votes to freeze their wages, to limit their terms in office, and replaces their guaranteed health care and pension plan with Medicare and Social Security. Furthermore, anyone who has served in Congress cannot become a lobbyist. Man, I am dreaming; this will take years.
In the past, for every dollar Americans invested overseas, foreigners invested $2 in the U.S. As an example, over the last 20 years, GM lost 400,000 jobs. This loss of jobs was offset by many car companies opening plants and dealerships in the U.S. Due to the $16 trillion debt, our credit rating being downgraded, our corporate tax rate being the highest in the world and all the new government regulations, lavish foreign investment is coming to an end.
Today, China's currency, the yuan, is starting to trade ahead of the U.S. dollar. Traders are starting to sell dollars to buy yuan. With QE3, Fed Chairman Ben Bernanke is printing more money, which continues to destroy our currency and drives interest rates to near zero. Of course, this helps Obama, who said he would dramatically increase exports. The cheaper dollar normally drives up the price of oil, natural gas, gasoline, gold and the stock market. If oil and gasoline go high enough, the Green Energy myth becomes a reality. In the future, many companies will be investing in China.
As I see it, this massive growing debt, Obamacare and the year-end fiscal cliff of major tax increases will result in another recession. Remember, in a free enterprise system, "a rising tide lifts all ships," which translates into creating 12 million jobs over the next four years, which will raise the standard of living for the poor, middle class and rich. This is Romney's plan, along with energy independence. Send a businessman to the White House. Beware of the future and don't sacrifice your children's future. Our family endorses another businessman, Fred Zoeller, for county commissioner.
Lloyd Miller,
Tiffin
