Senator Hart voted against the federal Chrysler bail-out loan. It's estimated that without the loan, 600,000 Chrysler employees would have lost their jobs. Senator Hart also voted to additionally tax a barrel of imported oil by $10.00, which would have cost each Michigan family $600.00 annually, let alone the rest of the country. That would have caused a one-percent rise in inflation nationwide. It also would have caused American vehicles and tractors to cost more, and reduced the jobs of another 500,000 people. All together those two bills, if they had passed, would have meant the loss of 1,100,00o jobs.
Senator Mondale is talking in terms that I understand. He seems a very passionate man, who feels very strongly about the issues he talks about. His concern about the economy is reassuring.
President Reagon is trying to tell us that he has saved us about $150,000,000,000.00. I don't buy it when he has a deficit projected at $169,000,000,000.00 the first year. $143,000,000,000.00 the second year and $150,000,000,000.00 the third year. It doesn't sound like any profit and loss statement I've ever seen. President Reagon says that the Democrats should be happy with the reductions, but I don't buy that either, because Reagon has esculated the deficit to unthinkable proportions, more than all the fifty Democratically controlled years put together, that he refers to so often. He blames the Democrates for creating the problem, but he is going to have to put our people back to work before the people can pay taxes to be able to cut the deficit, and his own Republican Party has pressured him into cutting his budge. House Speaker Tip O'Neill has suggested that Reagon is unfit to be President of the United States and has said that if Reagon is re-elected, he will stay as House Speaker another two years, but if Reagon is defeated, he will leave the Congress at the end of his term and retire. The Republican Party is notorious for spending more during their Presidencies, and the Democrats, who are characterized as being big-spenders, have actually been the lesser evil of spending historically.
John Glenn has withdrawn from the Presidential race. I couldn't tell much difference between him and our current president, President Reagon, anyway.
Maybe all the countries in the world should just declare themselves bankrupt, and we should just start over again. The countries that are wealthy would stay wealthy and every nation would forgive the debt of everyone else, instead of continuing to extract from each other in very human terms, the poverty and misery of the people of the debt-ridden countries, including our own.
