To the Editor:
In his editorial of June 30, 2012 Denton Publications Publisher Dan Alexander compared the 3 1/2 year tenure of President Obama and the 18 month tenure of Governor Cuomo. It baffles me that you could even attempt to compare the two. Governor Cuomo has done very well but he is governing one state not fifty. He has people and businesses and infrastructure and healthcare and all sorts of problems to contend with but it can’t compare to what has to be dealt with when there are 50 times the problems.
When we went to war in years passed they were paid for by raising taxes or selling war bonds as we did in World War II. We fought relatively short wars such as the Korean and Vietnam which were funded by surtaxes. History shows that President H.W. Bush probably lost his reelection because he raised taxes to fight the first Gulf war. When President Clinton left office, he left a surplus in the budget.
Along came the Iraq and Afghanistan wars and President George Bush and his Republican Congress kept the costs off the books. The wars have cost an estimated 3.7 to 4.4 trillion dollars and that does not include future cost of veteran medical benefits from those wars. President Bush cut taxes, established a poorly planned and unfunded Medicare drug plan, and kept the costs of the war off the books which raised the deficit and increased the National Debt.
During this same time, businesses and banks were hiding fraudulent practices they were doing. When we bought our house, we went to a local bank and financed it. The bank knew what we could afford and they approved the proper amount of mortgage. As the price of houses grew the banks and mortgage companies approved sales regardless whether people could meet monthly costs or not. For each new home that was purchased building materials, new furniture, appliances, schools, etc. were needed. However, we realized that most of our manufacturers of hard goods along with new cars were all “off shore”. It seems that the manufacturers were allowed to take their companies out of the country often with the blessing and funding of the government.