Newburyport Daily News
---- — To the editor:
In today’s news we learn that the state of Illinois can’t pay its bills, mostly because of their large retirement fund debts. Within the past several weeks, the mayor of Chicago approved a school union contract that will further increase the state’s debt. What is the governor’s plan to rectify this situation? It’s to get President Obama to get the federal government to foot the bill. The president is already doing all he can to aid the state of California.
During his first term, the president has not hesitated to go around the Congress whenever he can’t get them to move. Fighting this in the courts is an endless process, and while the time passes, the president is putting his programs in action. He has a history of disrespect for the Congress and the Supreme Court.
One of his biggest claims is that he “saved General Motors.” This is incorrect. GM could have as easily gone through the courts and obtained protection under the bankruptcy laws to allow GM to restructure. Why didn’t he allow the process to work correctly?
First, by making the government the lender he could control the restructuring through one of his “tsars.” Bond-holders, who have the first right of receiving their money after debts are paid, were ignored by placing the Automakers Union first in line. Then the management was restructured, giving much of the control to the unions, not management.
However, he is believed to have a second motive. The president is a fascist. Fascism is broadly defined as a government with centralized authority and social-economic controls. He believes that the country should be managed through a quartet of (1) big business, (2) big banks, (3) big unions and (4) big government, with the president himself at the top as “king.” You can test this theory against many of his agenda items, such as his (A) closeness to Wall Street and big unions, (B) creation of tsars and (C) his interceding in other industrial sectors.
Recently, former presidential candidate Ross Perot spoke out for the first time in years saying, “a weak economy opens us to hostile takeover.” Last week on CBS Sunday, reporter Bob Woodward (Washington Post) also warned about the deplorable state of our economy and his hope for the election of Mitt Romney.
With no future election to worry about, would the president take it upon his authority to bail out our states?