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October 16, 2008
The Honorable George W. Bush President of the United States The White House 1600 Pennsylvania Avenue Washington, D.C. 20500 Dear Mr. President: The U.S. economy is on the brink of the worst recession since the Great Depression. Americans are facing unemployment, experiencing financial losses and are at risk of losing their homes and retirement incomes. An uncertain future awaits many. Although your administration has been provided $700 billion to utilize at your discretion to prevent further economic devastation, the American people have not been the recipients of economic relief. Thus so far, this funding has been used only to save large companies and Wall Street institutions from self-inflicted financial ruin. Economic vitality starts with the American citizen. It is time that unemployment, pending home foreclosures and individual financial burdens and losses are addressed. Furthermore, small financial institutions need to be provided with the tools they require to continue to serve small businesses and other customers. Congress has provided your administration with appropriations this year, in addition to the $700 billion, to include almost $30 billion for disaster relief and civil works projects that enable you to revive local economies. This yearly appropriations and supplemental funding should be used to stimulate local economies through creation of employment opportunities via infrastructure improvements. As you know, in South Texas infrastructure improvements and civil works projects are in dire need of funding. Regrettably, South Texas economic growth potential has been largely ignored the last few years. For instance, the Port of Brownsville, one of the largest employers in the region, contributes significantly to both the local and national economy. Unfortunately, due to inadequate federal funding over the last six years, shoaling at the entrance to the channel has limited economic and employment growth potential by reducing the ability of the port to receive ships. A small investment in this project would stimulate local job creation and expand U.S. business opportunities. In closing, history has taught us that the economy must be invigorated from a bottom-up approach, not from the top-down. I look forward to working with you to spare the American people more unnecessary hardship. Thank you for your attention to this matter. Sincerely, Solomon P. Ortiz Member of Congress |
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