Wednesday, July 30, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Our grim situation

By
From page A5 | January 16, 2013 |

EDITOR:

I enjoyed Mr. Garon’s response to the factual errors in his “Why do the poor people of Boone County support Romney” letter. Mr. Garon is so often fact challenged that I will bypass that and go to his point. Mr. Garon, as liberals often do, tries to paint a choice where you either want to throw grandma out on the street or you support them and their disastrous debt financed spending. He mentions how could anyone not want to help someone making less than $10,000 per year. Did it ever occur to him that helping those people might be easier if Obama wasn’t giving tax credits of NASCAR, Hollywood and many other cronies? Oh yes and then there’s Obama’s old jobs czar Jeffery Immelt CEO of GE. You know GE, that company that doesn’t pay tax and also sent its entire x-ray division and its jobs to China. That old saying, “I can’t be out of money I still have checks” is a joke. To people like Mr. Garon and President Obama it’s the gospel.

Mr. Garon wonders why people in low income areas would support Romney over Obama. Maybe it’s because they realize that you can’t keep spending money you don’t have and expect to get away with it. Maybe because people as devoid of common sense as Mr. Garon simply don’t survive to reproduce in areas where life is that hard. Now for those unlike Mr. Garon, who have an understanding of basic math let me spell out our grim situation. This country takes in around $2.5 trillion per year. Our national debt is on track to be $20 trillion or more by 2016 with no slowdown in sight. It will keep going straight up from even that lofty figure. The only thing allowing us to temporarily get away with this insanity is keeping interest rates at near zero on government bonds. As our debt becomes more precarious coupled with our dependance on foreign money, interest rates are bound to rise just as they did when the debt situation in Greece, Italy, Spain, Portugal and Ireland got precarious. Historically 3 or 4 percent interest rates have not been that uncommon. As I said our income is around $2.5 trillion a year. Four percent is $800 billion, 3 percent is $600 billion in intreest per year. Do the math and you’ll see how far down the toilet Mr. Obama and his supporters like Mr. Garon are taking us.

GEORGE ALGER
Placerville

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