Friday, April 18, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Stimulus

EDITOR:

I am very glad that Mr. Longhofer responded to my letter because nothing can show the bankruptcy of what what passes for thinking in the liberal world better than a liberal. One fascinating excerpt from his letter: “$425 billion surely some good came from it.” Mr. Longhofer obviously couldn’t think of anything positive accomplished by throwing almost a half trillion dollars borrowed from our grandchildren at the economy so he hopefully states that something good must have come from it. An unknown something good is the best you can do for a half trillion dollars? I’d say something here but it would be hard to improve on the mindless statement of Mr. Longhofer. Maybe he thinks the half billion wasted on Solyndra was a good idea. By the way it’s good to note here that the Solyndra loan was modified by the administration to put Obama’s fat cat buddy George Kaiser, a big Solyndra investor, ahead of taxpayers for any money recovered from the Solyndra bankruptcy.

Mr. Longhofer goes on to state that my analogy of having your credit card nearly at its limit and therefore limiting your ability to stimulate is bogus because the government has no credit limit. That may be technically true, but as Greece is finding out limits exist. You see the recession is trivial compared to our debt situation. Recessions usually last for a fairly short number of years and then there is a recovery. The depression our debt is heading us for could easily take decades to reverse. Recently the Sacramento paper had an article that said the Fed would keep interest rates low until unemployment reached 6.5 percent. That made me laugh. The Fed will keep rates low as long as it can because if they go up this country will circle the liberal drain at amazing speed. Let me illustrate. Our debt is on track to reach 20 trillion dollars by 2016. Since Obama is steadfastly opposed to cuts in entitlements, discretionary and almost any other area of spending we should have no problem reaching that $20 trillion in debt by the forcast date. In fact there is nothing to indicate that the debt won’t continue to expand at the rate it is now past that date to $25 trillion, $30 trillion? Who knows? Now let me tie this together for you. Four percent is historically not an unusual interest rate. Four percent of 20 trillion dollars is $800 billion. That is almost a third of the approximately $2.5 trillion that the government takes in each year. Anybody can look at that and see that it is unsustainable. You would either dafault or print money like it’s going out of style at that point. You can argue the interest rate but also easily see that 2 or 3 percent would lead to similar problems especially when you conider that nothing on the horizon is to slow the increase of debt past 2016. At a certain point with the printing presses churning out money by the ton our foreign creditors that are bankrolling our insanity, most importantly the Chinese, will become concerned as to our ability to repay especially considering the value of our inflated dollars that they would be recieving. How does a foreign lender make up for recieving inflated dollars of lesser value? By raising interest rates. Refer to what has happened recently in Greece, Italy and Spain to see how this works. It’s useful to remember at this point that there is nobody big enough to bail us out as some of the smaller countries like Greece are temporarily being bailed out of their big spending mess.

Make no mistake, the stimulus that Mr. Longhofer wants to help us, he knows not how, will come out of the pockets of your grandchildren. The left often characterizes the right as selfish. What could be more selfish than to continue a level of spending that will condemn today’s grandchildren to living under crushing debt in an impoverished country so that you can have more now?

GEORGE ALGER
Placerville

Letters to the Editor

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Discussion | 19 comments

  • James E.January 02, 2013 - 3:33 pm

    Mr. Alger, I could have gone back and tracked the $435 Billion programs, but chose not to do so, as you are not worth the effort. You would have simply attacked each and every one of them regardless of the good they did for the United States. Stimulus Mr. Alger, not austerity. And, of course, nothing from you about the Billions lost to Mr. Cheney's Halliburton construction company. Nothing.

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  • DB SmithJanuary 02, 2013 - 5:29 pm

    Colonel, you say you could of gone back and tracked the $435 Billion in stimulus programs. I double dog dare you to do that. I'll make you a bet...if you're able to navigate through all of the government garbage that they provide on the internet and come up with a sensible account of where all that stimulus money is then I will buy an annual MD subscription for you. You'll have to scan through 11 categories and 28 agencies and venture deep into the cyber world to find who the real recipient is and where that dough is or isn't (maybe you can call Joe). One of the most disturbing events to me is that California received $34 Billion in stimulus and out of that, $4.5 Billion went to Education. That $4.5 Billion coupled with the already Federal, State and Local funding still wasn't enough for California educators so Brown turns on the scare tactics and the voters fall for it by passing Prop 30. It will never be enough. Mis-management throughout the entire system as California continues out of control.

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  • James E.January 02, 2013 - 8:26 pm

    DB, I already subscribe to the MtDemocrat. And, as I said to Mr. Alger, he's not worth the trouble as it would be an exercise in futility given his rants. I might consider it if you would buy me a 2013 Toyota Camry XLE hybrid with all the bells and whistles. I cannot be bought for a one year subscription, but a new car might do it. And it doesn't even have to be a Lexus.

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  • DB SmithJanuary 02, 2013 - 8:37 pm

    Colonel, pleezzz ~ would you just do it for me and I promise not to rant. I've just got to know where it really went, where it's still going and all the in between juicy stuff. Pleezzz....

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  • Phil VeerkampJanuary 02, 2013 - 8:45 pm

    Oh fer godsakes, Colonel, just to it before poor DB succumbs to apoplexy.

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  • James E.January 02, 2013 - 8:46 pm

    DB, pleases don't feed the bulldog, nor will they give me a smooth ride in my new car (unless you buy me one).

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  • James E.January 02, 2013 - 8:48 pm

    Phil, you don't think DB will get a blood clot behind his ear, do you?????

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  • Phil VeerkampJanuary 02, 2013 - 8:52 pm

    possibly . . .

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  • DB SmithJanuary 02, 2013 - 9:00 pm

    Colonel, would you settle for an 04 Honda Accord that I'm trying to off? Hurry, think about it cause I'm feeling faint from running up and down the stairs. I hope I'm not coming down with one of those apopxy things.

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  • Phil VeerkampJanuary 02, 2013 - 9:04 pm

    LINK - Hillary Clinton Chelsea Distraught After Hospital Visit . . . Chelsea becomes accessory to Benghazi cover-up . . . developing

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  • cookie65January 24, 2013 - 11:01 am

    I can help you out James. The stimulus did as intended, it prevented the public sector from feeling the effects of the economy long enough for obama to win re-election and harry reid to keep control of the senate. If that is what you call accomplishing "some good" then we differ on the definition of "good", but you already knew that.

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  • James E.January 24, 2013 - 11:09 am

    Cookie, you little Devil. Thinking that every event is dictated by politics. How could you? But would that be both Democratic and Tea/Republican events or just Democratic? Those darn Socialist Commies are just destroying our nation and I know you will keep us up to date on the destruction.

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  • cookie65January 24, 2013 - 11:11 am

    James, does this fit in your defintion of progress? http://chicago.cbslocal.com/2013/01/24/brawl-erupts-at-east-st-louis-food-stamp-office/

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  • James E.January 24, 2013 - 11:26 am

    Cookie, is your concern about food stamps or people getting angry when someone wants to cut in line? Is there a connection or is your point that the low level scum who get food stamps are more likely to get angry when someone wants to cut in line? Come on Cookie you can do better than this.

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  • James E.January 24, 2013 - 11:28 am

    Off for lunch. Be back later.

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  • cookie65January 24, 2013 - 12:39 pm

    James what does it say about the mentality of people who get violent over what they get for free? As I have said previously what happens when we run out of crumbs for those who have chosen government dependence? These people are victims because they choose to be. And your president doesn't get in front of a teleprompter without pouring gas on the fire of class warfare. He wants the violence. He learned it on the streets of Chicago.

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  • James E.January 24, 2013 - 2:18 pm

    Sorry Cookie, doesn't compute. Ever been in a line at the movie theater when someone tries to cut in and there is a major tiff? Were they going to get a free movie ticket? Your prejudice shines through. Oh, and I enjoy your fact that the president was a street thug in Chicago. Also I note the teleprompter thing (every president back to Truman/Ike has used one). Wonder why it has become such an issue about President Obama's use of one? Oh, right, prejudice, prejudice, prejudice.

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  • james bradenJanuary 24, 2013 - 9:08 pm

    James Longhofer seems like one of the only intelligent and educated participants in the redundant debates in this paper. Glad to have him on board to challenge the oft constipated and infantile discourse. Mr. Longhofer, I salute your integrity. Not to mention infusion of baby laxative. More hail you than you probably know.

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  • James E.January 24, 2013 - 11:07 pm

    Mr. Braden, thank you. One can only try to keep some balance.

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