An open letter to President Obama (Part 17 of my response to State of Union Speech 1-24-12)

Rep Michael Burgess response

Uploaded by  on Jan 25, 2012

This week Dr. Burgess provides an update from Washington and responds to President Obama’s State of the Union address.

President Obama’s state of the union speech Jan 24, 2012

Barack Obama  (Photo by Saul Loeb-Pool/Getty Images)

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

The Heritage Foundation website (www.heritage.org ) has lots of good articles and one that caught my attention was concerning your State of Union Speech on January 24, 2012 and here is a short portion of that article:

Obama’s Policies Have Exacerbated Increases in College Costs – Lindsey Burke

President Obama is right to call on colleges to work to drive down college costs. Unfortunately his administration’s move last year to  forgive student loan debt after 20 years was reckless, and won’t help achieve that goal.

Taxpayers who worked hard to pay off their own college debt should not be penalized by having to pay off the loans of those who, irresponsibly, took out more debt than they can handle paying. Moreover, the three-quarters of American taxpayers who did not graduate from college should not be penalized by having to finance the college student who took out $100,000 in loans to pay for a degree of questionable value.

The Success of A Few Not An Excuse for Obama’s Economic Failures Bill Beach

The President uses the success of a few as excuse for the economic policy failures of his administration. Changes in the distribution of income are due to three well known developments: the recession, failed economic policies of the past eight years, and the aging of the working population. The President has also been badly served by his economists:

  • If the President’s economists were to account for these three factors, they would find almost no change in the distribution of labor income over the past twenty years.
  • If these economists would use data from 2008 through 2010 rather than stopping their analysis at 2007, they would find that the hated rich have lost 40 percent of their wealth, thus massively decreasing the differences in income between the bottom and top earners.
  • Finally, the President’s analyst should remember that population change is still the biggest force in our society. The Baby Boomers (nearly 71 million are still in the labor force) are at their top earning years, which is a major factor why the top 40 percent of the income distribution is wealthier today than 20 years ago.

_______________________________

Starting a class warfare is not the way to go.

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your committment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com

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