Return US to stability, productiveness

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Paulette Walter (Reader Input,?Dec. 9) implies that I am a fan of Fox News. I and many others think their reporting gets to the heart of the problems facing us. Most of the other “news” stations or channels skirt the issues and the hard problems. Walter says the 99 percent are not asking something for nothing. Just what do they want? Obviously the serious ones want jobs. Do they ever consider why so many jobs have gone overseas? The major reason is it has become too expensive for many of the companies to operate in the United States. These reasons include ever expanding labor costs as unions demand increases in pensions, benefits, health care and wages. The company executives and directors are not blameless either as they siphon off ever increasing perks and wages. For a number of years, innovation and robotic improvements helped to keep cost down, but eventually the tipping point came and the job drain began. In order to turn this around, both labor and management must lower expectations. Walter perhaps does not remember when the housing market was booming and so many people decided turning over property was a way to get rich quick. Also at the same time, Barney Frank, D.-Mass., was pressuring the banks through Fannie Mae to give out loans to those who did not meet banking loan standards. The objective was very admirable — every person should own a home. But it led to the housing crises that still is a drag on the economy. I, too, hope Washington politicians and the voting public realize the direction that the Obama administration is leading the country and return us to the stable financial and productive country we once were. Cornelius S. Ough, Auburn