Thoughts on private sector misguided

Michael Ferguson's July 3 letter ("Don't let private sector overtake nation") elucidates exactly what is wrong with America today -- his mind-set.

Facts will never get in the way of a misguided philosophy. Do you think Mr. Ferguson knows that the majority of the private sector of the American economy is small business, not large corporations?

Do you think he knows that the world's biggest private oil companies own only 5 percent of the world's oil, or that governments and monarchs own the other 95 percent? Does he know that most small-business owners such as myself would rather see General Motors fail than support an artificial marketplace?

Do you think Mr. Ferguson knows that government policies such setting a minimum wage rather than the market doing so, and union control of labor, have driven jobs offshore? Unemployment benefits can be the equivalent of a $12-per-hour employment position.

Do you think Mr. Ferguson is aware that Jimmy Carter's administration came up with the idea of giving mortgages to people who could not afford them, and that Barney Frank and the Congressional Black Caucus corrupted that idea beyond imagination?

Does Mr. Ferguson know that Fannie Mae and Freddie Mac refused to take bundled mortgages without a certain percentage of these risky loans included? Does he know that the banks hedged against these mortgages because they could see the risk the feds could not?

Does he know that the Bush administration saw the risks and tried to reverse the federal policy, but were soundly defeated by a Democratic Congress?

Does Mr. Ferguson know that the portion of health care the feds now control is an unmitigated disaster of corruption and bureaucratic misappropriation, and that he is supporting turning the entire system over to that abomination?

Private citizens receiving rather than giving to the public good are soon to be a minority. Where will Mr. Ferguson get his handouts then? Obama's welfare-collecting African aunt though America owed her housing and subsistence. So, apparently, does every wrong-thinking person such as Mr. Ferguson.

William J. Welsh, M.D.

Augusta

Don't let private sector overtake nation

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