Monday, June 18, 2012 | 2:02 a.m.
Regarding Cesar F. Lumba’s letter “Politics is slowing the recovery”:
What is slowing the recovery is a massive debt hanging over us. Under President Barack Obama, the nation has been saddled with more than $5 trillion of new debt. We are now over $16 trillion in debt and have unfunded mandates of over $90 trillion.
How and when are we going to pay this back?
Large and small businesses are sitting on plenty of cash. They are afraid to invest it, not knowing the outcome of Obamacare and the 2012 election. If this president wins a second term, I don’t know what will happen to this country.
Lumba blames the Republican-controlled House for the president’s woes, but it was the American voters in 2010 that put them in charge. We were tired of the direction President Obama, the Senate and Rep. Nancy Pelosi were taking us. I don’t know about Lumba’s home, but all the rest of us continue to lose equity in ours. Some of us have lost 45, 50, and some ZIP codes have lost as much as 65 percent of their homes’ value. Las Vegas is on track to lose another 2 1/2 to 3 percent in 2012.
We have massive debt; a giant, bloated government; and we all are in a coma and on life support.