Letters to the Editor

Your views in 250 words or less

Tag: debt


DEBT: Encourage revival of Bowles-Simpson plan

Finally, some encouraging news is coming from Washington, D.C.: Some are trying to revive the Bowles-Simpson effort to resolve many of the financial woes facing our beleaguered country.

Almost two years ago, the Bowles-Simpson commission was tasked with finding some solutions to the many fiscal issues facing Congress. This included the biggies like our multitrillion-dollar debt, Social Security, Medicare, Medicaid and others.

The commission was composed of highly respected experts and politically balanced with noncontroversial, longtime members from both parties. They labored long and hard and produced a fair and balanced proposal that had a little pain for everyone and

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TAXES: Shrinking share paying more

Re: “Tacoma not alone in debt” (Bill Virgin column, 5-6).

Virgin is on-target with his column regarding taxes, debt and spending at all levels of government. Spending money they don’t have, on stuff they can’t afford, limits the ability to afford what is really needed and necessary.

An additional factor not mentioned is the impact on that part of the population that pays for the excessive spending and subsequent debt.

If you are working or retired and paying taxes, you are part of a decreasing percentage of the population paying more taxes. Your tax burden at any level of government

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DEBT: Congress asleep at the wheel

A pastor had a problem parishioner who always fell asleep during the sermon. Finally one morning he stopped his sermon as soon as John was asleep and said “Now, I want everyone who wants to go to hell (shouting) stand up.”

John jumped to his feet. The pastor looked at him and said “John, do you know why you are the only one standing?”

“Well, Pastor, I don’t know just what we’re votin’ on, but it looks like you and I are the only ones in favor.”

Economists, editorials, columnists, letter writers, etc. are all preaching the gospel of fiscal

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DEBT: Easy credit spending out of control

It’s easy to blame those big, bad banks for the financial mess many people find themselves in today. But, all too often, the people who are hurting the worst and complaining the loudest have no one to blame but themselves.

A few months ago I made a purchase at a well known department store. When I checked out, I was told that if I would answer a few questions, I could get a 10 percent discount on my future purchases if I signed up for a credit card and agreed to pay 21 percent interest. No thanks.

On average, credit

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DEBT: Withholding cuts, new tax don’t add up

President Obama proposes paying for his two percent decrease in Social Security withholding (a true reduction of 30 percent) by initiating a new tax on those who earn more than $1 million per year. However, has anyone done the math?

There are at least 150 million in the work force with an average earning of $35,000 a year. The two percent drop in the tax translates into $700 for each of the 150 million workers. Result: $105 billion that is not going into Social Security. No problem, the rich will pay for it.

There are approximately 250,000 taxpayers with incomes

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DEBT: Spending cuts will affect infrastructure

Re: “Obama’s the problem, not the rich” (letter, 12-3).

Contrary to what the writer and many many others might think, President Obama isn’t the problem. He is just the person who has to fix it.

The critics need to discover that mindless adherence to their party mantra is going to sink us all.

According to letter writer, the only solution to the problem is through sufficient spending cuts to remove trillions of debt. Only one very small problem there: Cuts are people and their jobs. Jobs are payroll. Payroll is consumer spending, mortgage payments, cars purchased.

That large of

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DEBT: GOP actions increased uncertainty

Re: “Obama’s the problem, not the rich” (letter, 12-3).

The blame for the recession and the extremely slow recovery rests squarely with the leadership of congressional Republicans.

The U.S. economy is consumer-driven. It thrives on “confidence” and tanks on “uncertainty.”

Let’s go back to the President Clinton era. It was a time of higher taxes and balanced budgets, which resulted in confidence. A net 21 million jobs were created. The economy was humming. In 1999, Clinton had a $250 billion budget surplus. He wanted to put the entire amount toward shoring up the Social Security trust fund.

Uncertainty set

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DEBT: We’d still be hurting even if supercommittee succeeded

Your editorial of 11-23 contains an error that cries out for correction. You say the congressional supercommittee was tasked to find a way to “reduce the U.S. government’s debt – which just exceeded $15 trillion – by $1.2 trillion.”

In truth, its goal was to reduce the federal deficit by $1.2 trillion over 10 years. This is a “paltry” $120 billion per year, less than 10 percent of the annual deficits we are currently running, and the members could not bring themselves to accomplish even that.

Had the supercommittee succeeded, we would still have been on track to add

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