Regarding a recent letter about the free market, government regulation and job creation:
There are laws already on the books that regulate banks and markets. Government regulators fail to enforce them. More odious laws and regulations are not the answer to holding regulators accountable for enforcing the current laws.
Greed was the major factor with the financial and banking sectors and it wasn’t stopped by regulators. We’re still bailing out Fannie and Freddie — hundreds of billions of dollars for mismanagement, granting mortgages to those who could not repay them. We don’t hear anything about those officials being held accountable.
As for job creation, look at where the stimulus money here in New Mexico went — for government programs and education.
And projects for stimulus money must be “green” or they don’t get funded.
This coming year, there will be no stimulus money from the feds so our state must somehow raise the money necessary to continue government programs created by the stimulus. Can everyone say “new taxes?” A revenue-raising committee is now pondering what form new taxes will take. Hold on to your wallets.
I own and operate a small business. The reason for no new jobs? No confidence in the economy or those in charge.
All I see on the horizon are more taxes, more regulation and inflation due to out-of-control deficit spending by this administration and a compliant Congress, and lack of response from our New Mexico senators and representatives who are voting us into impoverishment.
It’s time to stop the insanity. I implore the citizenry to pay attention, get involved and make the changes necessary to keep our elected officials working for us, not their party or the special interest groups.