Friday, July 25, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

A very slow recovery

By
From page A5 | March 04, 2013 |

EDITOR: I see Mr. Longhofer is singing another chorus of “Don’t Worry, Be Happy” when it comes to the dire state of our economy. It’s also interesting that the words “talking points” appear in almost every letter he writes. I guess he figures that by labeling somebody as parroting talking points he can get by without addressing those points. Good move for the intellectually bankrupt.

Now to address the small part of his letter which actually deals with something specific. Mr. Longhofer states that there is no question that we must address our deficits. Really? Mr. Obama and the Democrats didn’t get your memo, James.

This administration has absolutely no plan to address the deficit. None. Sure, they talk about it but take no concrete action. Obama has outlined no spending cuts for the rest of his entire term. We will hit at least $20 trillion in debt by 2016. Period.

Now I especially love it when Mr. Longhofer unintentionally helps make my point. He says the dire situation in Greece is not relevant to us because they are in that situation because of their inability to collect taxes. Fine, but here’s the problem. We are heading for the same crushing debt situation Greece finds itself in and we do collect taxes. In other words we already do what Mr. Longhofer said would fix Greece’s problem and we still have the problem.

What is confusing to many as to our economic problems is that there are actually two problems operating simultaneously, the recession and the debt crisis. Due to the Obama administration’s lame and counterproductive actions we are crawling out of this recession at the slowest possible speed but we are crawling out. People like Mr. Longhofer see this and sing another chorus of “Don’t Worry, Be Happy” and argue for more stimulus. That is borrowing more of your grandkids’ money and giving it out to be spent now. Problem is, the recession could end tomorrow and we would still have the debt crisis which threatens to make the recession look trivial by comparison both in depth and longevity.

GEORGE ALGER

Placerville

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