Obama, bailouts, rate relief and Congress

By Published by The Editorial Board

Published: November 28, 2008

Let’s give Obama some time

To the editor:
Yippy yi yo ky yea! Barack Obama will be in the White House in 2009. People needed a change, but let’s remember what he said in one of his speeches. The government can’t do it all by itself, the people have to do their part, also.

The way some blacks have started acting has made me ashamed to be black. President-elect Barack Obama did not run for the presidency to save anybody. He ran to bring jobs back to the American people that should not have gone overseas to begin with. When these jobs re-appear, be sure to apply for them. Do not procrastinate. What could’ve, should’ve, would’ve isn’t going to make it. No one is going to help you unless you try to help yourself.

President-elect Obama also ran for the presidency so that our youth and everyone would have a chance for a good education. If they don’t get one, it’s because they did not want one. He ran to bring a better health care plan to the people of the United States. Everyone needs to have health insurance. Again, if it’s not used, it was there for you.

That’s not all the changes that President-elect Obama plans to make. There are many more. Let’s remember that it’s going to take a while. It will probably take four years, and hopefully, he’ll run for a second term and win. He has to clean up the current mess first. Let’s move America forward to truly be one nation under God, with liberty and justice for all. Let’s look at people for their mentality and what they can bring to the table and not the color of their skin.

JOAN McSPADDEN

To the editor:
“Three big chiefs lobby Congress,” the headlines say. No, it was not Geronimo, Sitting Bull and Crazy Horse, it was the CEOs of the Big Three automakers.

One of the big chiefs, Rick Wagoner of General Motors, testified that without $25 billion in taxpayers’ money, their bankruptcy by would be “devastating” for the economy. His company lost $38.7 billion last year. Reports are that he earns $43,000 a day — including weekends — for losing all of that money. Wagner zoomed into Washington on one of General Motors’ eight luxury jets. The $36-million airplane Wagoner took cost the company $20,000 just for that trip. Northwest has a Detroit-to-Washington flight for $238, but that’s for the little people.

Also begging for our money was Ford’s CEO, Allan Mulally. His compensation package of $21.6 million was a part of his company’s $2.7 billion loss last year. Three Ford executive vice presidents’ compensation packages were $8.4 million, $10.3 million and $8.7 million. But I guess $49 million for four men is a small part of all those billions.

As Everett Dirksen once said: “A billion here and a billion there, and soon you’re talking about real money.”

And private company CEO Robert Nardelli of Chrysler wanted his share. He claims to work for $1 a year, but he should have some of the $210 million left that Home Depot paid to get rid of him. He had no experience in the auto industry, but promised to work for low wages for a while. Chrysler also needs our tax money cash as “retention money” to pay $30 million to executives who are apparently threatening to quit. Chrysler was owned by Daimler until August 2007, so Nardelli cannot get full credit for last year’s losses.

It seems that congressmen are getting the drift that most working people don’t want their taxes paying auto workers more that $70 an hour to lose all this money on the cars they make.

All three big chiefs blame their financial difficulties on the recent financial crisis. All these above-mentioned losses are for 2007, before the current financial crash.

How long can these chiefs lay off enough working people to continue receiving their millions in salary from billions in losses?

ROBERT D. “DANNY” RICKETTS

To the editor:
Councilman Larry Campbell has proposed raising the lodging tax from 3 percent to 4 percent to raise $135,000 to help fund a program of utility rate relief. The article suggests Lyle Lacy, Sherman Saunders, Gary Miller and Adam Tomer are for the program.

What have our city leaders been inhaling to think it’s OK to take money from one person and give it to another? Funding for such a program should come from contributions, not forced taxation.

Disappointment is the word that comes to mind for our new City Council, and my next vote for City Council members will reflect such.

JERRY D. WHITLEY

To the editor:
Every time Congress and/or the president moves toward buying up a few more billion dollars of what is left of “private enterprise” in a so called “bailout,” private funds run for cover, causing the Dow Jones Industrial Average to take another dive! What more does Congress need to assure itself that the public’s confidence level in it and the president is probably less than the reported 18 percent?

If congressmen reviewed the economic history of the 1930s or listened a bit to U.S. Rep. Ron Paul, they would know it was Franklin D. Roosevelt’s dabbling in a depressed private enterprise that extended a Depression into an economic disaster that only World War II could bury!

Back off and let the incompetents and delinquents eliminate themselves! Survival of the fittest is the name of the game and a dim-witted Congress cannot change that! Do away with all income taxes and raise all federal funds through import duties.

Only in this way will we ever put our people back to work and rebuild our industrial base!

Our Founding Fathers knew this and their policies built the 13 colonies into the world’s largest industrial base. Federal bailouts are squandering the inheritance of our grandchildren and their grandchildren.

FRANK TURBERVILLLE

Milton, N.C.