Letters to the Editor

Your views in 200 words or less

Tag: deficit


DEFICIT: Krugman being dishonest about problem

Re: “We’re cheating our children, but it’s not about the deficit” (Paul Krugman column,3-31).

Krugman dismisses concern of a national debt growing at about $4 billion per day by proclaiming there is no problem.

I understand that our deficit of about 10 percent of our annual gross domestic product is at a dangerous level. We owe money to China. Furthermore Krugman proposes more government spending (with inevitable taxation), which hurts the economy and jobs.

Krugman is being disingenuous if not dishonest.


DEFICIT: Krugman oblivious to debt’s dangers

Paul Krugman’s column (TNT, 3-14) about government spending and deficits is ripe with questionable assertions.

Krugman tosses numbers around and goes into great detail about yearly deficits, yet he hardly even mentions the danger posed by the national debt. Without naming names, he coyly attempts to denigrate conservative fiscal hawks by calling them “fearmongers” who want to dismantle Medicare, Medicaid and Social Security.

To bolster his arguments, he references Kenysian economic theory, yet he fails to acknowledge that without capitalism he would be as poor as those individuals who actually do need government assistance.

I can’t help but wonder

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BUDGET: Herbert Hoover increased spending, deficits

Re: “History is full of warnings about fiscal austerity” (TNT, 2-28).

Harold Meyerson falsely claimed that President Herbert Hoover “cut spending” to balance the budget during the Great Depression. In reality, Hoover actually increased federal spending from $3.1 billion in 1929, when he took office, to $4.6 billion in 1933, when he left office. Hoover also ran up big budget deficits.

While Hoover’s administration had inherited a $734 million budget surplus, it quickly turned that into a deficit, which reached $2.7 billion in 1932, and $2.6 billion in 1933. Government spending doubled as a percentage of the economy, which

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TAXES: Cliff deal doesn’t ‘add to the deficit’

Re: “Reality reflects campaign distortions” (letter, 1-11)

The letter writer would do well to actually read the Congressional Budget Office report he references in his letter. He excoriates President Obama for wanting to raise taxes on the wealthy as a way to address our nation’s deficit, saying that the fiscal cliff deal “actually increases the deficit by $4 trillion (over 10 years). That is straight from the Congressional Budget Office.”

This is false. The CBO report clearly states that it arrived at its $3.9 trillion figure by starting at a baseline assumption that all Bush-era tax cuts would have

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ECONOMY: Obama doesn’t want to reduce the deficit

How about that. The News Tribune editorial board, Katie Baird and even Eugene Robinson found religion. All of them are telling us the fiscal cliff agreement which will bring in $100 billion per year won’t do much to cut the deficit. Sound familiar?

The Republicans have been saying that for years President Obama’s tax plan, taxing only the top 2 to 3 percent, would bring in only $70 billion to $80 billion per year. That amount, like the $100 billion per year from the fiscal cliff deal, wouldn’t have cut much of the deficit either. The mainstream media never questioned

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ECONOMY: Republicans have shown irresponsibility

Re: “TNT criticizes the responsible side” (letter, 12-27).

The letter writer admonishes The News Tribune editorial board for calling upon the U.S. House to join the government (editorial, 12-26). He then goes on to explain how responsible the Republicans’ approach is and how the Democrats just want to “soak the rich.”

This is nonsense. The rich are hardly being “soaked” when their last presidential candidate paid a 13.9 percent tax rate on $20 million of income.

Was it responsible for the last Republican administration to give two tax breaks at the same time we entered two wars? That

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ECONOMY: No Band-Aids for growing deficit

I am actually worried that the politicians will cut a deal which keeps in place the growing deficit and the behemoth government with the Department of Redundancy Department and the many other wasteful programs.

The idea of settling on something where there is no pain to anyone on either side is horrible. This is a mammoth debt, and without a real plan for reducing it, we are getting nothing but a Band-Aid for cancer.


BUDGET: Parties should split the difference

Take the $120 billion deficit for the 2013 budget as things now stand and give responsibility for one half of it to each party. Both the Senate and House could agree initially that they will accept and put together what is decided by each party.

Republicans do not want to increase revenue, so they would be tasked with increasing revenues $60 billion. They can do it by any means, as long as the Congressional Budget Office agrees that it will increase revenue by $60 billion.

Democrats are resisting cuts to benefits, entitlements and programs. They would be tasked with decreasing

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