I’m writing to ask all American citizens to take a principled stand against President Obama and the Democrats fiscally irresponsible Stimulus Package. This bloated package of political payoffs recklessly expands the size of goverment and increases our total national debt by 9% without providing the targeted and fiscally responsible stimulation that is required. It must not pass.

Disciplined saving and investing by American citizens can best be stimulated through tax cuts. In particular, cuts to the capital gains taxes provides immediate stimulus to both the stock market and real estate markets, by encouraging both selling and buying transactions of homes and securities.

A payroll tax cut is also warranted and effective. It immediately boosts household incomes for personal savings and spending. The individual savings increase the banking reserves which then provide additional funds for lending. The personal spending encourages general economic recovery.

A payroll tax cut also allows business to keep more of their earnings, providing greater investment in new capital equipment, more efficient manufacturing methods, and sustaining higher employment levels. That is exactly the type of stimulus needed at this moment in time.

These simple tax cuts require no expansion of government while enhancing targeted liquidity to the private citizen, the business sector, the real estate markets, our banking sector, and the stock market. That is exactly where we need liquidity and stimulus now.

The appropriate stimulus package must also address the structural impediments within the banking industry. The ‘Mark to Market’ loan valuation requirement must be modified to more accurately reflect real property valuation. In its current form, ‘Mark to Market’ artificially drives bank loan portfolio valuations down based on market perception rather than reality. This forces the lending institutions to raise their cash reserves and tighten the lending requirements. It directly works against the need for liquidity and reasoned lending requirements. The ‘pure pork’ Stimulus Package of the Democrats does nothing to address this key issue. $6 Billion dollars earmarked for ACORN, Obama’s shadow campaign organization, does nothing for the economy!

Finally, both Fannie Mae and Freddy Mac must be transitioned to the same loan reserve requirements as all other lending institutions, to prevent this financial debacle and taxpayer financed bailout from ever occuring again in the future. Any other Government Sponsored Entities similar to Fannie Mae and Freddy Mac must meet the same requirements, with no exceptions.

In September 2008, our National Debt stood at $9.7 Trillion. The Oct 08 ‘Stimulus Package’ added 7.7% to our national debt. The Jan 09 ‘Stimulus Package’ adds another 8.8%. In a mere 4 months, our Democrat controlled Congress and new Democrat President will have increased our total National Debt by 16.5%. That represents an additional $5100 dollars of national debt for each citizen of the US, brought to you by your Democrat controlled government. As young Americans, students should be outraged at having their future stolen by this power and greed grasping administration.

How much more ‘Hope’ and ‘Change’ will you tolerate before admitting your collosal error in returning the party of TAX and Spend to power?

Hope you have some Change left, when Obama, Pelosi, and Reid are done with you!

Invictus Maneo