Economic Storm Clouds Have a Silver Lining
John Balzar has it all backward (“Wait, It Gets Even Worse,” Commentary, July 21). Rather than the stock market decline destroying people’s retirement plans, actually it has saved Social Security. People who were going to retire in their 60s are now going to be laboring well into their 70s, paying into Social Security instead of taking out of it.
I credit President Bush with this incredibly clever method of solving all our difficulties. And as long as he continues to fuel our economy with deficit-financing, we should have no problems. This is the same method Ronald Reagan used to create our modern economy in the first place, one in which moral business leaders save us from the excessive regulation of a government we cannot trust. Of course, now that those business leaders have become the government, it’s hard to know whom to trust.
Frank Robinson
Ridgecrest
*
Bush has been accused of not being an environmentalist. Not true. The president has done an excellent job in recycling the speeches of Herbert Hoover. We are now up to “the economy is fundamentally sound.” Can “prosperity is just around the corner” be far behind?
Larry Maxcy
Yucca Valley
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
