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Lack of knowledge exists among public

Thursday, February 26, 2009

Dear Editor:

In the paper dated Feb. 18, 2009, the article captioned "County to benefit from new federal stimulas plan" identified a small portion of the benefits that will be derived by the residents of Barry County. I think your article should have also stated that the Republican Congressman and the Republican Senator elected by the people of Missouri voted against the stimulas bill. In order for Missouri to receive its allocation, it was necessary for the Governor to accept the funds.

Additionally, before anyone's children, grandchildren or great-grandchildren will have to be concerned about paying down the debt incurred as a result of the stimulas bill, they will first have to pay the 10 trillion in debt that has been run up by the Republicans, which includes $2.5 trillion borrowed from the Social Security Trust Fund by the Bush Administration.

It is hard for me to believe the lack of kowledge that exists among the voting public. As an example, relative to the so-called "bank bailout," every person I have talked to here in Monett thinks that the government gave money to the big banks. The fact is that they loaned money to the banks at 5 percent interest (if not paid back in five years the interest rate goes to 10 percent) and the borrowing cost to the Treasury is about 2 percent. So, the government is making a profit on funds going to the banks, AIG Financial and the auto companies.

Sincerely,

Carl Link

Monett, Missouri