Extra payment is too costly

I wrote a letter May 29 objecting to the $250 payment to every Social Security and Supplemental Security Income beneficiary. This same proposal, again being made by President Obama, will cost $13 billion that we do not have, but it should help Democrats secure additional votes for the 2010 and 2012 elections.

I have a suggestion that should accomplish more than one left wing objective. The dollar has reached a 14-month low and has continued to slide. To hedge against the decline, many banks are buying euros from the European Union and yen from Japan. The euro is now worth 50 percent more than the dollar. By seizing these assets from our banking system, we could send out $19.5 billion, or $375 a person. This program would accomplish two major objectives. First, individuals would be ecstatic. And second, the federal government would be in a position to take over our banks. Our president could then assign a czar to efficiently run our entire country.

Our deficit for the fiscal year that just ended is approximately $3.4 million a minute, $200 million an hour and $5 billion a day. Another few billion should not matter.

I am in my 80s and have been paying into the system for more than 60 years. In addition to Social Security I receive a paycheck by working full time, without interruption, except for college and service with the military during wartime.

GLENN REEVES, Cape Girardeau