John P.

Neville, Editorial Page Editor The Buffalo News One News Plaza, Buffalo NY 14240

April 21, 2012

Subject: Buffalo News September 7, 2011 Editorial Titled Enough Blame for Everyone. My analysis of our nations troubles indicates that Pathetic, Ignorant, and Apathetic voters have enabled a disease called our Criminally Dysfunctional Political System. The criminals are morally corrupt Politicians who finance their election campaigns by placing our children and grandchildren into debt (Federal Government Deficit Spending). This political slush fund is massive -- currently running at 1.2 trillion dollars per year -- and is worth billions in campaign contributions. Excessive deficit spending in our personal lives (running up debt on our Personal Credit Card) represents irresponsibility and waste. Voters should expect worse results when they allow morally corrupt Politicians to run up our Federal Debt. Your Federal Debt Credit Card is enclosed and indicates how Federal Government deficit spending began to gradually increase in 1976 and increased much faster following the election of Ronald Reagan. This card also illustrates how our Federal Debt acts as a subsidy to the wealthy. When Ronald Reagan increased Federal Government Deficit Spending he reduced taxes on the wealthy and called it Trickle Down Economics. When FDR increased Federal Government Deficit Spending he increased taxes on the wealthy and called it the New Deal. As the Buffalo News Editorial points out, George W. Bush dramatically increased the use of deficit spending. Barack Obama continued the practice by sugarcoating the deficit spending as an economic stimulus. George W. Bush also reduced taxes on the wealthy. My research indicates that Politicians also attempted to win votes by dismantling the New Deal Financial Regulations that prevented excessive risk taking by our banking system. This dismantling allowed Politicians to win votes by creating an Illusion of Employment that was based on making it easier for the banking industry to sell risky mortgage debt to the rest of the world. The risky debt created a housing bubble and a financial crisis. Our Politically-appointed Federal Reserve Board of Governors did nothing to reduce this risk. The dismantling began during the Clinton Administration and continued during the Bush Administration. To ensure the success of using risky debt our Politicians did not warn Americans that debt was becoming riskier. Millions of Americans are now suffering because they trusted Politicians like Bill Clinton and George W. Bush. The Editorial states that the public is crying out for Politicians to do what they were elected to do. This Editorial correctly defines the situation -- all the public does is whine and complain like children. (a) Intellectuals employed by our Washington D.C. Think Tanks are so pathetic they are willing to rub elbows with famous white collar criminals who disguise themselves as Federal Government Politicians. (b) Media news anchors are so ignorant they call a Political Cheap Shot Session a Political Debate. (c) American voters are so apathetic they allow their communities to be drenched in media sewage each time the Democratic and Republican Parties run an election campaign. The end of the Editorial expresses hope that the disease will heal itself -- this hope is absurd. In my opinion the Editorial should have been titled Lets blame the Politicians so American voters can continue to remain Pathetic, Ignorant, and Apathetic. However, The Buffalo News has an opportunity to redeem itself -- write an editorial titled How to cure the disease called our Criminally Dysfunctional Political System. Michael F. Patterson 6115 Fairlane Drive Clarence Center, NY 14032 Cc: Federal Reserve Board of Governors Prof. Jeffrey Sachs Clarence PoliticalOversight.org