Letter to the Editor

To the Editor:
To all my friends, liberal or conservative: George Bush and the Republicans have been in office for seven and a half years. The first six the economy was fine. About two years ago: 
1) Consumer confidence stood at a two-and-a-half-year high;
2) Regular gasoline sold for $2.19 a gallon;
3) The unemployment rate was 4.5 percent;
4) The Dow Jones hit a record high: 14,000-plus;
5) Americans were buying new cars, taking cruises, vacationing overseas, living large!
But Americans wanted “change.” So, in 2006 they voted in a Democratic Congress and yes — we  got “change,” all right. In the past two years:
1) Consumer confidence has plummeted;
2) Gasoline has been over $4 a gallon;
3) Unemployment is up to 5.5 percent (a 10 percent increase);
4) Americans have seen their home equity drop by $12 trillion and prices are still dropping;
5) 1 percent of American homes are in foreclosure.
6) As I write, the Dow Jones has seen new lows: $2.5 trillion has evaporated from stocks, bonds and mutual funds investment portfolios.
As a result of the Democrats causing and then blocking the reform of Fannie Mae and Freddie Mac, the resulting collapse has pushed the lending market to the brink, necessitating a possible three-quarter of a trillion dollar bailout. Yes, in 2006 America voted for “change” ... and we sure got it. Remember, the president has no control over any of these issues, only Congress. And what has Congress done in the last two years? Absolutely nothing. Their approval rating of 9 percent shows it.
Rickey Crain
Shawnee