February 7 , 2013 Page 3 One Man’s Opinion Another Man’s Opinion By Gerry Chong continued. She began to tell us that the best Economic Recovery Slow but Steadypart of her scheme was that because they areAn interesting story is currently circulating around the Internet that is purportedly true, currently not working, that they (both) are By Cristian Vasquez (police, fire and homeland security, including but I could not vouch for its authenticity. I now receiving Section 8 vouchers. I said I It is no secret that the economy under border patrol and customs) and many other repeat this only to describe a mindset that thought those were for renters and she said, President Obama has not fully recovered. sectors would have been completely depleted. ensues when an entitlement mentality erodes “That’s the best part--me and my sister are Given the colossal collapse the economy took Keeping those individuals employed ensured society’s morality: going to be renting each other’s homes so toward the end 2008 and beginning of 2009, that the country maintained a core of working As a Realtor for the past 28 years, I thought we don’t even have to move, and Obama is it is going to take more than one term for a individuals who would through their earnings I had seen or heard it all… until now. I was going to give us each $800 a month to pay full recovery and the steps President Obama kick-start the dying economy. has taken are ensuring that such a recovery In order for the private sector to thrive, occurs. Beginning with the American Recovery you need private citizens to spend. Granted “ I have never understood why it is ‘greed’ to want to keep the money you’ve and Reinvestment Act of 2009 to the natural that high tax rates lead to less disposable earned, but not greed to want to take somebody else’s money. ” growth of businesses, the American economy income, but without the President’s actions is steadily recovering and getting stronger. there would have been far fewer segments of It is a given that nobody likes taxes being the population left with any sort of disposable showing homes in Pontiac, Michigan one af- the rent!” She then picked up a picture of raised. However, after eight previous years of income. Since the stimulus money was put ternoon recently and showed up at a home at Obama and did a little happy dance around tax cuts and no significant job growth combined into use, the economy has recovered. It’s a the 4 p.m. time my appointment was scheduled her living room and while she kissed the pic- with the economic collapse, the response by slow recovery, but steady. According to The for. After I woke up the homeowner, she let us ture she was singing, “Thank you, Obama… the then-new administration was more than Bureau of Labor, since the middle of 2010 in and then proceeded to tell my buyers and I thank you, Obama.” adequate. The famous or infamous stimulus the country has seen an overall increase of (sic) that she had already entered into a contract So here’s the bottom line…Both of these money, depending on whom you ask, saved employment, working hours and earnings. In to sell the home on a short sale (a short sale scammers got at least $80,000 in debt for- the economy. It is unfortunate that taxpayer addition, since October 2009 the employment is a sale where the bank accepts less money given--$3,000 in cash for relocation (when money had to be used to save the private rate has been on a steady decline--from 10 than is owed on the home). After some chit- in fact, they did not relocate); and to boot, sector from an absolute meltdown, but had percent then to 7.8 percent in December 2012. chat, she proceeded to tell us that she and her you and I will be paying $1,600 in rent for the President not taken such an action the Are these numbers ideal? No. Are they what sister (who also lived in the area) were buying them each and every month, perhaps forever... consequences would have been dire. Despite President Obama promised when campaigning each other’s homes via the short sale process. End of story. Prominent Stanford University the dreadful financial conditions that followed in 2008? Not at all. Is it a healthy and significant I mentioned to her that I thought relatives Economist and Hoover Fellow Dr. Thomas the end of 2008, the American Recovery and improvement from where the country was in could not be involved in those transactions. Sowell wisely noted, “One of the conse- Reinvestment Act of 2009 spared many, many late 2008? Yes. The President’s actions have She smiled and said, “We have two different quences of such notions as ‘entitlements’ is more American families from losing their slowly instilled life into an economy that last names, so no one knows the difference.” that people who have contributed nothing to jobs and homes. By keeping these millions had slowly deteriorated between 2000 and She went on to tell us that each of them society feel society owes them something, of people employed, the economy was given 2008. While the administration’s tax hikes owed over 100K on their homes and were in apparently for being nice enough to grace a legitimate opportunity to recover. are a burden on anyone earning any kind the process of buying each other’s homes for us with their presence.” An economy will only thrive when there is of income, they were needed to address the 10-15K cash. To top it off, they were each Dr. Sowell continued, “I have never under- a supply of goods that people have the ability woes that the country was suffering--and to receiving $3,000 in government-provided stood why it is ‘greed’ to want to keep the to purchase. Had the stimulus money not gone this day, the investments have slowly paid off. relocation assistance at the closing. money you’ve earned, but not greed to want out to help states, counties and cities weather Plus, after eight years of generous tax breaks My buyers and I were amazed that she to take somebody else’s money.” the financial catastrophe we were thrust into, and no significant economic and job growth, was outright admitting to fraud and yet, she Good question, Dr. Sowell. Good question. • employee numbers in education, public safety it was time to take a different approach. • Valentine’s Day Ad Special Enjoy 60 off*%exclusively for your Business Tender We Want to Share the Love by Doubling your Ad Size . . . with Hugs & Kisses Chocolates Show a little love this Valentine’s Day with this ruby red tulip and deep blue iris bouquet coupled with delicious chocolates! 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Manhattan 02_07_12
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