Wall Street vs. Main Street

To the Editor:

The Obama economic era is over and the Trump era begins.

As of Friday, Dec. 22, 2017, Donald J. Trump and what used to be the Republican Party, are now responsible for what will happen to your economic lives.

What I see I do not like. It doesn’t appear to be as scary as 2007, but it could end up worse than 1929. Now do not scoff, as I do have a good track record. In 2007, I put out many letters telling you why “America is entering a New Economy.”

I loved Obamanomics, and wrote several times about the benefits of its slow, steady and sustainable American economy. Unfortunately, that beautiful era looks like it just ended.

Three things have me deeply troubled. In 1929, unemployment bottomed at 3.1 percent, slightly lower than where we are today.

The distribution of wealth is exactly the same as it was in 1929. As much of our country’s wealth is owned by the top 1 percent as is held by the remaining 50.1 percent (a much larger portion is “controlled” by them).

“You all just got a lot richer,” Trump tells friends at Mar-a-Lago after signing tax overhaul. Well, just the opposite happened for the majority of Americans.

Millions of children may lose their health care (CHIPS); millions more will lose their coverage under the (once) Affordable Care Act; most of the rest of us will face an additional 10 percent increase in premiums.

About three-fifths of the job numbers improvement are from the Obama Era and two-fifths of the stock market increases are Obama’s. The “trump bump” accounts for about three-fifths of this year’s gains.

Be warned - what is good for Wall Street is not always good for Main Street.

Happy New Year.

Domenic Torchia

Columbia

Thank you VA

To the Editor:

I was pleased and gratified at the support and generosity the community showed for the vet whose trailer burned. I was not however the least bit surprised by the above and beyond efforts put forth by our wonderful local VSOs, Michelle and Vicki.

Beth Barnes set the bar high in her support of our veterans and our current VSOs meets or exceeds that tradition. Michele helped me with my claim. When a vet tells me of the failure of the VA system my advice is always “go see Michelle and Vicki at the old TGH”. They have always sorted the claim out and get the vets what they earned by risking their lives for this country.

I know it’s your job, but the effort you put into helping Mr. Dayton are a reminder to me how dedicated you are to us and how valuable you are to our community. Thank you.

Thomas J. Carson

CPT USA retired.

19246743