Letter to the Editor: McDermott is playing on people's emotions

To the Editor:

What Rep. McDermott didn't write was that about two months ago, the president promised that there would be no more federal spending without finding the money source to pay for it. That is, either raising taxes or cutting spending elsewhere.

Republicans proposed using part of the unspent stimulus money already authorized, but Democrats refused. They passed the $30,000,000,000 spending bill without one Republican vote, and which is now added to our 13 Trillion dollar deficit. That means, they must borrow the money from China, who already own us, or print it; and thereby inflating the dollar and reducing our purchasing power. Every American will now owe more than $50,000 in taxes.

In short, McDermott is deliberately deceiving the people and playing on their emotions rather than reality.

I wonder when the American people will wise up and throw these big spending people, both republicans and democrats - mainly democrats- out of this government.

While the Wall Street reform legislation may have some good things in it, it provides for no additional regulation of the GSE's, Fannie and Freddie. These corporations own all of the bad housing loans. They are deeply in debt to the taxpayers and it is their actions that caused the recession in the first place. So, one has to ask, why are these Government Sponsored Entities not regulated, as are all of the banking system?

Jack Leicester

Shoreline