Monday, February 23, 2009

Open Letter to Congressional Representatives


  • What proportion of the money needed to fund this bill will come from taxes, from borrowing or the printing of dollars and how will the negative implications of each of these alternatives be mitigated to prevent crushing the free market economy?

  • What is your reaction to a Congressional Budget Office assessment that says the economic recovery package will actually hurt the economy more in the long run than if nothing were done?

  • How can our economy recover when US debt obligations exceed the GNP of the World?

  • What provision is being made in the budget to cover the debt service for the national debt especially in light of the extraordinary likelihood of increasing interest rates which will be necessary to make US Bonds attractive to foreign buyers?

  • Congress is more than doubling the national debt to over $2 Trillion this year in terms of current spending and has compounded future indebtedness through passage of the S-CHIP bill. On top of this, the country is faced with upwards of $70 Trillion in unfunded liabilities for Social Security, Medicare and Prescription Drugs. How can we even consider National Health Care on top of this?

  • The Stimulus Bill provides for a 2009 spending rate of $19,000 per taxpayer and if 3.5 million jobs are saved or created they will cost $263,000 per job. Why not simply give the money to the taxpayers through lower tax rates and us decide how to spend our money?

  • Exactly how does the concept of spending our way to prosperity work?

  • For the economy to grow and the deficit to be reduced, jobs must produce wealth. However, government projects do not accomplish that — they do exactly the opposite through erosion of wealth. These projects consume scarce resources and convert them to less valuable resources. What is the correlation between jobs created by the Stimulus Bill and the creation of wealth — the growth of GNP?

  • What are the top five or ten items in the Stimulus Bill that will have the most favorable affect on the economy and how?

  • In light of all the debt and deficits; If, many people say when, international tensions in the Middle East turn hot, how is the US preparing itself to finance any military actions required and how prepared will we be to provide energy resources to the military, businesses and the general population?

  • What is your assessment of why the stock market has tumbled some 2500 points since the elections?

  • Why did you vote for the bill without reading it?

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