Letter: Bush will keep us headed deeper into recession

Thursday, Jan. 24, 2002 | 8:54 a.m.

While President George W. Bush wallows in the praise he has received for handling of events since 9/11, the economy continues to slide downhill. No one has to tell us that the Enron fiasco is a major disaster.

Many pundits, however, only talk about the financial impact on the banks that hold the worthless paper that once represented the backbone of Enron's wheeling and dealing. They also talk about the business community's faith in one of the "Big Five," Arthur Anderson and what that will do to other companies that use this prestigious firm to certify their balance sheet and accounting systems. But what about the impact on every small investor who holds a piece of paper (stock) that once represented his or her future security?

Look at the lost money that can no longer flow into our nation's economy. Wall Street is now telling us that other mega companies may be heading down the same path as Enron.

Bush's preoccupation with the learning process of international relations and the conduct of the "war on terrorism" will keep our nation headed deeper into a recession.

In spite of what has happened to the economy over the term of his "presidency," he still trumpets in a clarion voice, "cut taxes," as if that is a magic panacea for our economic woes. The Enron case also clearly shows the need for financial reform within the political system.

RAYMOND HARBERT