To The Daily Sun,
Dear Steve Earle et al:
While I do not want to get into a back and forth with you as your political leanings are much different than mine, I would like to offer a few words of advice to you.
First and foremost, please do not refer to me by the name "Bernie". Simply said, I do not know you and am asking that you not be that familiar with me. Second, my last name is spelled L O E S C H as opposed to your spelling of Loache. Please keep this in mind when you are writing to the editor of The Daily Sun in reply to one of my letters.
Now on to business. After much research on my part, I have found many, many references, citations and established law illustrating your concerns.
To save time and space I will list the public laws and their reference numbers. One fact in particular; President Obama's stimulus program turned the economy around for 48 months of private sector job growth.
The demands by the GOP for spending cuts at state and federal levels, such as raising the debt ceiling and to pay its bills has resulted in sequester. In addition, monthly job gains have been remarkably stable over the past years-Source: Bureau of Labor Statistics.
1. Signed The American Recovery & Reinvestment Act of 2009 committing $787 billion. This bill combined TAX BREAKS with spending on infrastructure projects.
2. Improper Payments Elimination & Recovery Act, July, 2010. Requires agencies to periodically review and report major programs that are susceptible to improper payments.
3. Small Business Jobs Act, 2010 (HR-597)-9/27/10: Authorizes the creation of the Small Business Lending Fund Program administered by the Treasury Dept. to make capital investments in eligible institutions, in order to increase the availability for small businesses. Provides $12 billion in TAX CUTS, including a 100 percent exclusion of capital gains taxes on small business investments.
4) The Tax Relief Unemployment Insurance Reauthorization & Job Creation Act of 2010-Public Law: 111-312. Also known as the Middle Class Tax Relief Act or Obama-GOP tax deal or Obama TAX CUTS.
5. Budget Control Act of 2011;Public Law 112-25: Creation of the Congressional 'Joint Select Committee on Deficit Reduction' aka: The Super Committee. The goal of this legislation was to cut at least $1.5 trillion over the coming 10 years and be passed by 12-23-11.
6. On July 31, 2011 Pres. Obama announced that the leadership of BOTH parties in both chambers had reached an agreement that would reduce the deficit and avoid default.
7. American Taxpayer Relief Act of 2012; Public Law 12-240 refers to the Tax Provisions for different income levels. Cuts of $4 billion Fiscal Year 2013. Cuts $8 billion Fiscal Year 2014.
2012-2013: The CBO (Congressional Budget Office) indicated that the deficit was projected to be $641 billion in 2013, significantly below the 2012 deficit of $1.128 billion. Dave Camp, the Republican chairperson of the House Ways and Means Committee called the provision the 'Largest TAX CUT in American history.' The TAX provision of this law REDUCED TAXES for 98 percent of taxpayers, bringing their tax rates to the LOWEST levels in 60 years.
Education Reform: Pres. Obama signed The Health Care & Education Reconciliation Act of 2010. By directly lending to students, the government is projected to SAVE taxpayers $68 billion over the next several years.