Letter to the Editor: Keep your hands on your wallet
There are two things happening that we should pay attention to.
First, the president of the United States wants to gut the Consumer Financial Protection Bureau (CFPB) because it irks him that it exists to help consumers fight back against the fraud and abuse of financial corporations.
In its short existence, the CFPB has returned $12 billion to 29 million consumers, according to the New York Times. The CFPB has caught financial corporations cheating or defrauding us to the tune of over a $1.7 billion a year, and the banks are mad. They do not like losing that kind of cash. And clearly our president wants to be free to cheat and defraud us, too.
Second, the president and the Republicans are trying to increase government spending for defense alone by over $500 billion in the next 10 years while at the same time decreasing taxes by at least $1.5 trillion dollars if not more over the next 10 years. One would think that if you are going to increase spending that you might need to raise taxes instead of cutting them. It is not hard to understand why folks are saying that the tax plan alone, without any increase in spending, is going to increase the deficit and the debt. Keep your hands on your wallet unless you want this president to pick it clean.
Michael Cash, Maurertown