Washington Post,April 5, 2008 published "Letter to the Editor" by Arnold F. Fege,director of public engagement and advocacy for the public education network wrote: "Socialism for the Rich": The queries raised are as follows:
What is wrong with a Congress and White House that at the drop of the hat, give away $30 billion in loan guarantgees to shore up Bear Stearns chief executive Alan Schwarts but find it impossile to provide $30 billion over five years to fund the Statge Children's Health Insurance Program? Well, my comment is that who has more political clout in our society? Children OR the multibillionaires in the private sector? It is a matter of public interest versus private interest for the leaders to make a decision. Such priority problem has been noted by Presidential candidates already. Needless to say,we shall watch the election result in November this year.
Aren't families without health insurance just as much at risk as Wall Street is? Aren't our children worth as much as a Bear Searns executive who made #141 million over the past five years despite recklessness and and inept leadership?
The writer stated further: Oh, I forgot. Providing government health insurance may be labeled as socialism but providing government bailouts to banks and brokerage houses is not? Excuse me for getting my "isms" confused and my patriotism misplaced, but this is one citizen who cannot be duped anymore by a Congress and a White House that plead poverty when it comes to funding poor kids and families but public interest in justifying $30 billion to Bear Stearns. If socialism is good for business, why is it not good for the uninsured? My comment: The writer is an honest good guy to submit his views to the Washington Post but where is the real clout? His views are published for readers but may be ignored by the leaders with real clout.
I have beeb a student of economics since early 1940s and am trying very hard to learn the difference of economic systems. Perhaps smart readers would enlighten me with your smart answers to the above queries. Thanks for reading my innocent blog as an octogenarian who has been watching our society with complexity and complicity since 1947. Let us try our very best to compare American economic system and China's system as learners of Sino-American or US-China economic systems ad infinitum. April 5, 2008
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