Betty Arenson: Debt ambiguity

Letters to the Editor
Letters to the Editor

The content of “Short-term gain, long-term drain,” in The Signal’s Jan. 9 issue was duplicitous.

The recent madcap mantra from the left is that Trump’s success with the economy is just the afterglow of Obama.

Under Obama, America was told to expect a 2 percent GDP as the norm. Obama’s reign hit 3 percent in four quarters out of 32 (8 years). In less than one year, Trump’s GDP is 3 percent and more with unemployment at a 16-year low of 4.1 percent. Additionally, from Nov. 8, 2016 to Nov. 8, 2017, “the Dow has booked the best-ever first year under a new administration since 1945, with the Dow soaring 28.5 percent (FOX Business). It’s higher now.

Democrats applaud Obama’s low interest rates “pushing cash out of savings accounts and into the stock market.” That’s a disaster for those who prudently saved money from working years, planning on the interest dollars for retirement income. Ironically, Democrats profess to despise Wall Street and assailed George Bush for mentioning privatizing a portion of Social Security.

Democrats remain mum on Obama’s national debt increase of $10.626 trillion to $19.4 trillion, between Jan. 20, 2009 to July 21, 2016 (CNS news), was abominable, yet somehow Trump is to blame.

That debt included the famous $835 billion “stimulus with shovel-ready-jobs” that never materialized. At his 2011 Jobs Council meeting Obama said, “Shovel-ready was not as … uh .. shovel-ready as we expected.” He and his failed Jobs Czar, Jeffrey Immelt, laughed; unemployment was at 9.1 percent.

Alleging the new reform is only for the very rich is absurd. The middle class will greatly benefit and certainly our underpaid military families will.

It’s incongruous that Democrats claim the predicted cost of the cuts over a 10-year period of $1.46 trillion will “bankrupt” America while they applauded the projected 10-year Obamacare costs of $1.76 trillion (US Economy).

It cannot be overlooked that Obama cut payroll tax withholding by two percent in 2011-2012. Irrespective of the billions of dollars not put into the bankrupted Social Security “bank”, that’s full of IOUs, Obama said, “the average working family has nearly $1,000 extra in their pocket” each year (US Economy).”

Democrats cannot afford a successful President Trump.
Betty Arenson

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