What I sent to the Vanguard blog siteReader comment on: Vanguard Endorses Obama, Democrats Submitted by Alfred J. Lemire (United States), Oct 26, 2010 23:16 (I had written that Ira Stoll of Future of Capitalism sicced me onto the site, but had to drop that to shorten my long comment to fit within the character count. Maybe just as well. . .. ) I am a Vanguard investor, thanks to 401(k) legislation. and a practicing Catholic. The heinous ObamacCare will enable federal funding of abortion and will harm the care that many poorer older Americans get. The bishops usually blunder when they pronounce on politics. So did Mr. Utkus. Democrats have moved sharply to the political, economic, and social left. The country needs them to be crushingly defeated on November 2, which might spur a needed party reform. Sadly, neither will happen. The President and congressional Democrats blundered on the alleged stimulus, directing money at government workers, thinking that money in their overpaid pockets would spur spending and thus economic recovery. They also directed billions at solar energy and other favored dirigiste targets, while harming most businesses wherever and whenever they could. (Think idle oil rigs in the Gulf and the jobless workers there.) Was TARP necessary? Yes. As implemented? No. Mr. Obama screwed auto company bondholders and rewarded the unions who helped to prompt the companies' difficulties. The Dems' bad financial regulation skipped Fannie and Freddie, arguably chief causes, along with the Dems, of the housing price boom and bust, and the recession. The nation's debt has soared from roughly $8 1/2 trillion when Nancy Pelosi became Speaker to roughly $13 1/2 trillion now, some $3 trillion during the Obama years. Mr. Utkus' weak argument appalls. Tea Party demonstrators make better cases for the country. Note: Comments are moderated by the editor and are subject to editing. Submit a comment on this article Other reader comments on this item
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