Letter: Obama held off terrible economy
President Barack Obama walks off of Marine One on the South Lawn of the White House in Washington. (June 28, 2012) Credit: AP
A recent letter writer criticized President Barack Obama for adding to our national debt and unemployment ["Democrats have a hand in stalemate," June 21]. But consider the possibility that if it were not for Obama's policies, the economy would have gotten worse.
The debt was incurred in part by government borrowing, which put additional money in the hands of the people so that they could purchase more products to create additional employment. If there were more government borrowing, the economy could have improved to a greater extent.
Government was how we lowered unemployment during the Great Depression of the 1930s. For those who are concerned about placing a burden on our grandchildren, consider what kind of economy will we leave them if we do not improve it now.
As for the debt, it will never be eliminated, nor does it have to be. So as long as our economy is strong enough to pay the interest, bondholders will buy the new bonds.
Private industry also needs to play a role. When there is a downturn, businesses should lower prices or raise wages to increase demand. Government and business can work together to grow our economy.
Stanley Gittleman, Baldwin
