Monday, April 18, 2011

GLYNN Campaign via Chatzigakis responds to Rotman's Economic Plan

Michael Chatzigakis, Group 10

For immediate release,

April 18, 2011

“It’s the Economy, Daniel!!!”

It has now become clear that the main issue of these elections is the economy. Our country has gone through one of the most severe recessions in its recent history. Our debt and our deficit are at sky-high levels. Governor Rotman, following Governor Schwarzenegger, has destroyed California with their economic policies. California is on the brink of bankruptcy due to Governor’s Rotman fiscal irresponsibility. The unemployment rate is at a 12.5%, contrary to what Governor Rotman claims, and for that you can take a look at the U.S Bureau of Labor Statistics. Governor Rotman has said that the joblessness was at 6%. He lied. Governor Rotman has lied repeatedly in his campaign about his economic record. California is at its worst state ever because of his failed economic policies. A senior citizen in California, Gregor Pitsilides, said that “When I hear Governor’s Rotman name, fiscal irresponsibility comes to my mind. It is a joke that he runs on a platform of fiscal responsibility when he created that mess in California’s finances”.

What will Governor Rotman do with the declining housing market? California has experienced one of the most severe recessions and the housing market has reached all-time lows. But Governor Rotman not only did not undertake any action to deal with this problem in his state, but he also never addressed the issue in any of his speeches. It is now clear that Governor Rotman has no plan on how to deal with this critical problem whatsoever.

Kate Glynn has stressed from the first moment of her campaign that she will provide a responsible economic plan to deal with the housing market. This plan will include a project that will protect any more Americans from losing their homes. Because hard working Americans must have a right to affordable housing, Glynn proposes the enhancement of the Obama Home Affordable Modification Program (HAMP), which created a fund for preventing foreclosures, by doubling the amount of the funds and also putting a moratorium for a certain period of time until middle class Americans get back on their feet.

Moreover, Governor Rotman did not even mention what he will do with Wall Street’s big bonuses and financial regulation. The main reason why our economy is in this mess is because of the reckless and irresponsible behavior in Wall Street. However, Governor Rotman is probably benefiting from his silence in this issue, and that is the reason why he is first in fundraising – the majority of his donations come from big business.

Kate Glynn has stressed the importance of a general overhaul of the financial system, contrary to the tremendous pressure she received from lobbyists, and she proposed a reform that will increase accountability and transparency for financial institutions. “Taxpayers should never again be in the position to pay for the irresponsible actions of Wall Street,” Glynn said at a rally on Friday.

Based on his past economic record and on his campaign, it is clear that Governor Rotman is incapable of leading the U.S. economy out of one of its greatest recessions in the last 100 years. Our country needs a President that will be able to comprehend and appreciate the various fundamentals of the current economic situation and how to deal with the complex economic problems our country is facing. Glynn is able to provide solutions and deliver results that will help Americans to find a job, to pay for their houses, to be able to send their children to college, and to have sufficient health coverage.

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