Wednesday, April 01, 2009

Dear Mr. President,

The following is a letter written to the President via his enormous web presence and in response to one of his queries.

Congratulations on an incredible win and much luck on your first term (hint-hint) in office. I was one of millions, who volunteered to make this win possible and was more excited about your campaign then at any other time of my voting life,

I am concerned about your much touted and criticized stimulus plan. I hope that you will not lose your edge and won’t forget the middle class families that have gone ignored year after year and president after president. I was still in college when Reagan introduced the ‘trickle down’ theory of economics and as of yet have not felt a drop. I also listen to the many conservative political pundits who claim that big government is a problem and deficit spending will not cure our problems as if the last 8 years didn’t happen on their watch and as if free market economics is the be all and end all. Free market economics got us 103% loans, interest only loans and a pharmaceutical industry that has immunity from any future damages from potentially harmful drugs. In my opinion that’s the kind of thinking that has gotten us to where we are – assuming that big business will police and restrain themselves and protect small business and consumers all the while disparaging low income families and the disabled for needing assistance while taking billions in corporate welfare themselves.

I am a single mother of a son with autism working in the worst real estate market in more than 35 years. I chose real estate so that I could have the flexibility to continue advocating for my son, not knowing that the market would completely drop off the radar. In my zip code alone there are nearly 200 homes that have been on the market for the last 2 years. Lenders are becoming more and more stringent with their requirements and the foreclosure rate continues to rise. Yet I still hear of CEO bonuses, parties and disgruntled executives complaining about a $500,000 cap on executive pay. In the Pacific Northwest, there is nearly a year’s worth of inventory yet no one can get a loan.

I guess what I’m trying to say is – it’s time for the financial sector to pay the piper and it shouldn’t be on the backs of the rest of the country. If they don’t like the half million salary cap, let them try unemployment for a while. If they don’t like oversight, let them resign and see how many hundreds of resumes are received for each vacancy. Or maybe they can try their luck at unloading some of their assets and watch them sit for the next couple of years. They could also see if they will qualify for a loan for a home more in line with their new lower income status. Please don’t let them off the hook for all the devastation and pain that they have caused. It is more than past time for the gap between wealthy and middle income to close a bit. I am also sick to death of hearing how the top 2% produce so much when the workers actually do the producing – most wealthy Americans are just compounding their legacy - they don’t ‘make’ anything. It just makes no sense that the wealthier 2% of our country should make more than the bottom 50 or 60%. It also makes no sense that I should be working harder to make less while the wealthier get richer and richer while producing nothing for the rest of us. Please don’t let us down and don’t let the banks and financial sector off the hook. Wall Street will rebound and adapt to new rules of play and middle class Americans have suffered for far too long.

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