Economic recovery still dragging
Re “Dow hits record high; economic growth at 5%” (Business, Dec. 24): The third quarter follows a strong second quarter of 4.6 percent growth, which in turn followed a first quarter where GDP shrank by 2.1 percent. You attribute the drop in first quarter GDP as the result of bad weather. This is surely true, but the strong growth in the subsequent two quarters is clearly related to the drop in the first quarter. The growth in these quarters was a reversal of the decline in the first quarter. The average growth over the last three quarters is 2.5 percent annual growth rate. This isn’t bad, but it’s hardly a recovery. At the current growth rate, the Congressional Budget Office estimates that it will take between 13 and 40 years before we recover to the pre-Great Recession levels of prosperity.
– Gary Fitzgerald, Carmichael
Blame Obama for signs of strength
The nation’s economy grew at a strong rate of 5 percent in the third quarter. Gas is below $2.50 a gallon. The Dow Jones Average closed at a new record high. Same for the S&P 500. Economic growth has topped 4 percent for two quarters in a row for the first time since 2003. Average hourly earning is up two years in a row. Consumer confidence polls are up. Average job growth is at its highest level in five years. Auto sales are up. Underwater home mortgages are down. The real estate market is rebounding. Unemployment is at its lowest level in years. I blame this all on Obama. He has been an absolutely terrible president.
– Richard Vidan, Orangevale
Indebting Californians to Chinese
Re “Carbon funds face big test for financing bullet train” (Page A1, Dec 25): The California High-Speed Rail Authority can’t get enough money for their project from the feds and the state carbon-reduction program’s cap and trade, an indirect tax on all of us, so they need so-called private investment. Where do they look? The Chinese Investment Corp., an arm of the Chinese government. Is the CHSRA so desperate for money that it would put California in debt to the government of China? Sure they would. Didn’t another California agency get a good deal from China on a bridge?
– Bill Jurkovich, Citrus Heights
Federal judge sides with criminal
Re “Sacramento man found guilty of recruiting girls as hookers” (Our Region, Dec. 25): One of the main reasons I volunteered signatures for Proposition 35 was because I’m sick of our courts giving drug offenders harsher sentences and penalties than those caught selling minors into sexual slavery. A federal judge in San Francisco made an injunction against the implementation of Proposition 35 for cases like this because it supposedly “violates free speech and association rights” of sex offenders. California voters need to be able to pass and enact anti-human trafficking laws without the federal judges who side with criminal perpetrators instead of their victims.
– Michelle Kunert, Sacramento
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