Wednesday, September 24, 2008

Responsible and Moral Capitalism.

My name is Tom Love and I am running for the US Congressional District 24 in the Dallas-Fort Worth Metroplex.

I care deeply about what the future holds for both my family and my home state.

As a working man, I understand about paying bills and living within a balanced budget. However, our country's economy has not been managed responsibly. Our national debt is approaching $10 trillion dollars or more. Our import and export imbalance is out of control, and our international relations have plunged.

We have been witnessing the wholesale give-away of our children's future.

Congress could and should have halted this progression toward economic insolvency by performing its Constitutional obligations of responsible oversight. Instead, they surrendered these obligations behind a cloak of slogans, and false promises.

As a small business owner, I learned a great deal about supply and demand economy, and how capitalism can be a tool for the well being of everyone. Formerly, profits were sowed back into the company. Workers made living wages, and spent their earnings in the community, creating other jobs.

That was an era of responsible and moral capitalism.

Our national economy had always relied upon this principle. But when corporations' main concerns became gigantic bonuses for CEO s and ballooning dividends for shareholders, without regard to the economic health of the company or communities, failure always follows.

When I pay more at the gas pump, or more every month on my electric bill, or more at the grocery store, I see the hurt that an irresponsible lack of regulations cause.

Someday I would like to retire. But with Medicare spiraling into debt from hyper-inflated prescription costs and insurance companies dictating what medical procedures will be allowed and which will not, frankly I am afraid to lose what health insurance I still have.

Then there is also Social Security verging upon insolvency in the foreseeable future.

We need change. We need responsible oversight over our future.

I want to be a part of that Congress that returns our country back to our former system of responsible capitalism. I want to help restore responsible regulations and oversight over our most fundamental needs.

For example, the Savings and Loan Catastrophe should have taught Congress a lesson. Among other problems in the late 1980s were Home Loans. The cost was $160 billion dollars. Now we have another Crisis for many of the same reasons. The cost will be $700 billion dollars this time around.

The economy, though, is not the only area in which Congress has shirked its responsibilities.

We need a responsible Energy policy. We need to think long range for solutions outside of the fossil fuel box.

Energy independence is national security. By not demanding Detroit keep pace with fuel consumption levels in other countries for new vehicles, Detroit is tottering on the brink of asking for a bailout, and we are more dependent on foreign oil than ever before.

We need to use what we have more efficiently. We need functional mass transit systems, not more toll roads.

We need to develop alternative energies while exploiting our own natural resources as well. Texas has been blessed with abundant sun and wind, but these presently constitute only a fraction of our production and consumption.

Responsible investing in research and development should have commenced a long time ago. Instead, Congress sat and looked away from the problems.

A nation increases its security when it is independent of the need to import necessary items, such as oil, from potentially hostile countries and cartels, like OPEC.

A nation increases its national security when it succeeds in achieving import and export balances, thus strengthening its own money.

Congress has not responsibly fulfilled its obligations to hold the national purse strings. The money has always been there for our national needs of maintaining our infra-structure of highways and bridges, our schools and universities; yet those funds have been squandered for the sake of a few special interests.

Our Constitution begins with the words, “We the People.” Our Congress owes the People responsible oversight over our money and our future. Elected official have a moral obligation to those People who elected them.

Make no mistake, though, Our Government is all too human made.

But a vigilant People coupled with responsible representatives for those People, can turn our country back into the direction in which it should have been traveling.

I want to help return our ship of state back to its rightful course of responsible and moral capitalism.

I am Tom Love, the Democratic candidate for the US Congress in Texas District 24.

I am asking for your vote and Thank You for listening.

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