An Open Letter to Barack Obama

Dear Mr. Obama.

Although I have not decided whether to vote for you or for Hilary, I do like the idea of change. So, for real change to our American economy, let's bail out the taxpayer.
Let's begin with student loans. Forgiving student loans for anyone making less than $200,000 per year in combined family income could put up to two thousand dollars per month into the pocket of the consumer. The middle class needs some help. My generation still bought into going to school and paying our bills. Personally, I wouldn't even have student loans if I had not had to go back to school under the No Child Left Behind law. I already had a master AND a doctorate. I did not owe any student loans, until NCLB. I was forced to incur debt to meet all the stipulations of the law. So please, lets forgive some, if not all, of this debt.
Next, what could 700 billion dollars do for the taxpayer? If you put the money directly into our hands, you would not need to bail out the financial institutions. People could pay off all their loans and debt. No one would have to lose their home. Banks would not lose their money from the sub-prime lending mistakes they made, as well as their lavish lifestyle and bonuses. I would certainly replace my 16 year old car with a newer model. I might take in a movie from time-to-time, or actually go to a restaurant with a friend, for dinner, once in a while.
If I take a look at all services I have eliminated from my budget, and the ways that I have cut back, I am convinced that $55,000 in tax-free bail-out money per taxpayer would turn the economy completely around. Let's take a look.

1) I stopped having my nails done. I never had all the fancy artificial tips because my nails grow rather long on their own, but I enjoyed having a manicure twice a month. I paid $40 per month, plus gratuity for the privilege.

2) I stopped having my hair professionally done. $200 per month, is what it cost, because my hair is so long. That doesn't even include the coloring, that I need even more frequently, as the birthdays whosh by.

3) I stopped my summer projects on my house. Each summer I have made a major repair or renovation to the house, or some special summer fix-up project. It was one of the first expenses to go. I have trimmed this down to necessary repairs, only. And, I rarely use an outside contractor, but, instead I keep the money in the family by hiring my son-in-law or my grandson.

4) No more take-out or pizza. Every two weeks I would treat us to something special on Friday Night. Relinquishing this pleasure saved a quick $100 per month.

5) I knocked down my religious contributions by $5.00 per week. This is the one cut about which I feel guilty. But it helps with the gasoline expense for my car. It buys an additional gallon.

6) My clothing allowance of $1200 per year has been cut to the replacement of stockings and underware. I don't mean the beautiful fancy lingerie, but instead I am sticking to basics. I haven't bought a new pair of shoes this year, and I am wondering if my work shoes will make it through the winter.

7) Although I work for the largest school district in our state, I do not currently have any health care. It is a long story, and one for a separate blog, but I cannot afford the more than $550 per month that I would have to pay.

8) My personal physician is less than thrilled with my attention to check-ups. Avoiding check-ups saves me about $120.00 per month in the short-run. We will not discuss what may happen in the long-run if I should need hospitalization. I do, however, need to augument my life insurance, even more.

9) The same issue is reflected in my cut back of dental care to once per year, and the reduction of my vision check-ups to once every two years. Although this might be acceptable in an healthy young adult, I am past sixty and it may have a negative impact in the future.

10) I still have my dogs and my cats. I have changed their brand of food which has saved me about $13 per week per dog, and $7.00 for both cat. The dogs function as absolutely wonderful guard dogs and companions. The cats just sleep a lot, but I love them just the same.

By my calculations, I supported 13 separate industries, excluding the banking industry, the mortgage industry, the heating industry, the telecomunications industry, and the electric lighting industry. I have not been able to significantly reduce any of these fixed expenses.

And, although I have cut back my household expenses by more than $24,000, I, like most middle class American's, find ourselves struggling to meet the rising cost. I am swiming against a strong current of spiraling prices. So, please Barack Obama, if you are voted in to office, please remember your promise for change. Bail-out the American people, for real change. We need help.

Mosetta Penick Phillips-Cermak, Ph. D.