Comments on: Economy

By: Catlin

Catlin — Tue, 25 Oct 2011 00:47:23 +0000

You have done tremendous good for Houstonians, specifically the I-10 construction in record time. Your telephone town halls are the kind of transparent and accessible goverment we can be pround of. No other official is willing to listen to and respond to their constituents like that, that I am aware of. I want to keep you there so we can keep all the good you do. But my savings are disappearing. My friends and relatives are losing jobs. The private sector has money but inadequate demand to invest in. When you talk of cutting spending, balancing the budget (a limitation on us that does not restrain our enemies, natural disasters, and other demands on public services) and cutting taxes, it is easier to see how those efforts will harm than how those effots will help. Why can’t we delay austerity measures until after the economy returns? Conservatives throughout history have altered course during extreme economic events, including Eccles, Keynes. I’m willing to pay higher taxes if that will help.
+1

By: George F Vaughn

George F Vaughn — Tue, 04 Oct 2011 19:55:27 +0000

It’s hard to say what I might be inclined to do if I were in your place. Maybe it’s just as well that I’m not. That said, it appears to me that political leadership in the US as well as in Europe possibly views our present list of economic and financial problems as having a recurring cyclical nature rather than a more deep and possibly long-lasting structural nature. Clearly, as you have written, our federal government has grown faster than the economy that supports it. What I see forthcoming in the way of policy response sounds like incomplete and short-sighted “hope and prayer” which 9even when pared down a bit) falls far short. Structural reforms are necessary.

Social Security is $8+ trillion short of being able to repay to those covered by it, the constant dollar value of dollars they and their employers have paid in related taxes. The system is a black hole that will begin to permanently reduce our standard of living. It gets worse with each one-second tick of the clock and cannot be repaired. Our policy response is denial and obfuscation.

By my barometer(s) the major “reasons to fear” (bond / stock / real estate / employment) markets is that politicians in US and Europe (while Asia is slowing) are not ahead of problems and they are not communicating the current depth and potential severity of continued problems to the public.

I would like to see comprehensive solutions. These inevitably produce austerity via lowered consumption and much higher personal savings rates that are needed across all sectors and most geographic regions in order to rebalance major developed economies in the US and Europe (which are reasonably well correlated) and replace depleted risk-reserves.

By: Harvey Cody

Harvey Cody — Sat, 01 Oct 2011 14:14:46 +0000

To K. Stockberger’s comment “I’m willing to pay higher taxes if that will help.” Higher taxes will not help, they would make the problem worse. Spending and unfulfillable promises to spend are the problem.

Unless promised benefit payouts from Social Security, Medicare and Medicaid are substantially lowered, funding these programs will, all by themselves, sink the the US economy – forget about funding all the other stuff we need or want government to do.

Spending or investing decisions by individuals tend to be based on what they believe will make themselves more wealthy, thereby creating and inducing other to create wealth – a portion of which is always redistributed to those in need of benefits. Spending by government tends to be based on political, economically inefficient considerations, thereby destroying wealth – which inevitably reduces the wealth which would otherwise be available to redistribute to the needy.

In short, raising taxes won’t help. Raising taxes would ultimately reduce the amount of benefits that can be paid. The country is already paying more benefits than it can afford, and benefits are projected to grow much faster than the economy is projected to grow. Increasing taxes will exponentially reduce the time between now and the time the economy hits the wall.

It’s shameful that politicians who know this to be true do not do their part to educate the public.

By: K. Stockberger

K. Stockberger — Fri, 23 Sep 2011 21:50:43 +0000

By: Jane Arnold

Jane Arnold — Thu, 15 Sep 2011 02:11:19 +0000

To your comment: “Recent analysis by the Heritage Foundation shows that District 7 residents will bear the brunt of the tax increases in President Obama’s budget.”

My comment: I don’t doubt this is the case….and as such, I’m happy to contribute an increased share. My needs are simple, and as a middle aged, middle income/assets taxpayer accept the reality of changes needed to lower the deficit without gutting the social systems that are safety nets for retirees and lowest income class.

By: Jim Bulla

Jim Bulla — Tue, 26 Jul 2011 17:36:16 +0000

Mr. Culberson,
I urge you to work with all members of Congress to find a compromise on raising the debt ceiling. I agree with the effort to restrain future expenditures; however, legislation has already been passed which authorizes many ongoing projects and agencies. Those obligations should be met. Now that the debate over federal spending has been fully engaged, I urge you and your fellow House members to push on to a longterm solution. But pay the current monies owed as promised.
Sincerely,
Jim Bulla

By: Ken Tyler

Ken Tyler — Tue, 26 Jul 2011 01:54:10 +0000

The president tonight urged us to contact our congressmen about the debt. I am posting this now to tell you Congressman Culberson to stick to your guns! The problem is not the debt limit, the problem is the debt! Do not compromise. Cut the spending. Let’s get the debt under control.

By: John Templeton

John Templeton — Tue, 26 Jul 2011 01:46:07 +0000

Just a note to urge you to support efforts by the President to end budget crisis. Thanks.

John

By: Dan Fox

Dan Fox — Thu, 18 Nov 2010 12:58:34 +0000

I applaud your desire to cut spending. Could we have some details, please? Let’s start with the draft of the Bowles-Simpson Deficit Reduction Plan. The most expensive government programs are Medicare, Social Security and military. What do you propose to do there?

By: Amy V

Amy V — Fri, 15 Oct 2010 15:55:06 +0000

Congressman,
I am disappointed that your website does not mention what you are doing about job creation and extending unemployment benefits. With six qualified applicants for every one job, something has to be done. Unless you plan to find a way to multiply the job offerings sixfold, then you will need to extend the unemployment benefits that are set to expire in November. Taking away people’s lifelines will not improve the economy. It costs money, but its an investment in the future of America, one person at a time.