Takes Issue with Writer’s Issue with Publisher’s Column

To the Editor:
A writer suggested that Mr. Hall’s commentary was a page from the “alarmist Tea Party,” unfortunately the writer chose to use his entitled opinion but he is not entitled to his facts. The writer suggests that the financial industry/Wall Street caused the financial crisis. Exactly what were the policies causing the crisis to manifest? Was it the fact that Fannie Mae, Freddie Mac and the FHA bundled those sub prime mortgages for the financial industry to sell. The very self-serving Barney Frank Democratic House Leader reduced the mortgage requisites. No down payment, no job history, no credit history and one did not have to be a citizen. Those same lending Agencies received almost a trillion dollars in bailouts, yes bailouts. Why did the Fannie Mae CEO, Mr. Raines, who became an advisor to President Obama receive over $100 million in bonus after the financial/mortgage implosion?
The same writer had issue with Hall’s positions but wrote a lofty letter in support of the Occupy Wall Street movement. I wonder if he and those who continue to believe the movement has merit removed their savings or 401k from the financial shysters, (his word). But he and his ilk accept exploding government debt averaging $1 trillion for the past five years? The president recently stated he has cut the debt in half (laughable). The recent debt reduction was a result of the sequester that he wants to repeal and has demonized. Why else would the Senate and President continually demand debt ceiling increases? Debt ceiling increases is the vehicle for the government’s ability to borrow more money.
The writer stated that small business hiring is strong? I suggest he review the Bureau of Labor Statistics, U1 thru U6. BLS stat’s U3 and U6. For Aug. 2013, printed report for U3 is 7.3 percent. The U6 number is 13.7 percent. U6 is the actual underemployed number. Another stat is the total of 90 million people left the job market and benefits in 2013.
The writers comment, “Mr. Hall’s peddling absurd ideas,” derives from an authoritative source of absurdity, I suspect he does not own a business, but has a definite perception of a living wage. How many skill set or trade salaries would also have to proportionally increase? Perhaps in another letter he could furnish, what he would/does pay his high school grads or non grads; is it $12/20 an hour and please include their provided benefit package.
I am sure the writer remembers purchasing a can of soda or Hershey bar for 50 cents, why does the same purchase cost $1.25 or $1.50? Have his grocery purchases increased and in many cases, for smaller portions. A clue: the Federal Reserve has and will be printing dollars seven days a week/24 hours a day.
Insofar as the Affordable Care Act/Law passage, why after it was signed, were there 2,000 plus exemptions made by presidential order. What is the rationale for a presidential executive order extending 2,000 plus exemptions to the ACA which includes an 80 percent subsidy for Congress and staffers? But not for the people. Additionally, the media never questioned why the $700 billion scheduled for Medicare reductions, (for the ACA law), will not be removed until 2015. I wonder if the upcoming 2014 elections had any influence.