Letters to the Editor

Your views in 200 words or less

Tag: national debt


OBAMA: Reality reflects campaign distortions

Barack Obama continues to say he wants to reduce the deficit while continuing to do nothing but increase it. Yet no one in the media questions him except for one cable network.

Obama campaigned on more taxes for millionaires and billionaires. In his negotiations with House Speaker John Boehner he sought additional taxes on those making $250,000 or more. Since when is someone making $250,000 considered a millionaire? They settled for extra taxes on those making $450,000 instead.

I still don’t understand how someone making $450,000 fits Obama’s campaign rhetoric of more taxes only on millionaires and billionaires.

All these

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CONGRESS: Very little leadership being shown

So our congressional “leaders” have reached a compromise to avoid the fiscal cliff. Now they are patting themselves on the back for “getting the job done.”

But wait a minute, the Congressional Budget Office says that the compromise bill just signed will add almost $4 trillion to the national debt over the next four years (TNT, 1-1). May the good Lord save us from too many such fruitful accomplishments.

The only bright lining I see is the fact that the state has a congressman who continues to exhibit concern for what is best for the country. I tip my

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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.


FISCAL CLIFF: Boehner sells out future generations

House Speaker John Boehner has removed four fiscally conservative Representatives (i.e., Representatives who had the temerity to take the Republican mantra of “smaller government” to heart) from the Budget Committee and the Financial Services Committee. Their crime: Voting against increased spending.

Maybe it is time to revisit tax rates and deductions for the rich. But that is only half of the problem. The national debt is now over $16 trillion and may exceed $20 trillion by the end of Obama’s term in office. U.S. monetary and fiscal policy is destroying the value of the U.S. dollar, which is now worth

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ELECTION: Is this what TNT is endorsing?

Re: “With sobered expectations, Obama for president” (editorial, 10-24).

Is this what The News Tribune endorses for America?

• An unemployment rate of nearly 8 percent today, when we were promised the rate would fall to 5 percent with the $800 billion-plus stimulus?

• A doubling of gas prices?

• $6 trillion added to the national debt?

• An increase of food stamp usage from 32 million to 46 million users?

• A nearly $4,000 decrease in median income for the middle class?

• A 2,700-page health care law with over 1,300 waivers given to Democratic allies and patrons?

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TAXES: Republicans for increasing U.S. debt

Re: “House GOP leaders plan summer tax cut vote” (TNT, 5-26).

The House Republicans plan to vote this summer on extending the Bush tax cuts, due to expire at the end of 2012. By doing so, they are for borrowing more money and increasing the national debt rather than trying to pay for some of the large debt that we have accumulated.

The Bush tax cuts reduced the income from personal income taxes about $200 billion in the first year (2002) after enactment and increased the national debt by this amount each year thereafter.


DEBT: Accountability needed for FDIC insured

Re: “Fix government spending, not JP Morgan” (letter, 5-17).

The writer complains about the “big-government types” like President Obama wasting millions of dollars on “nitwit” ideas that have made our country into a nation of “loafers” waiting for their next paycheck.

Let’s examine some of the facts. While JP Morgan is a public company, it is also backed by the government’s FDIC program that covers their hedges (code for gambling) with institutions’ and individuals’ monies. So when it comes looking for a bailout, naturally the need for accountability is obvious.

Even the Swiss government had to bail out one

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DEBT: Fix gov’t spending, not JP Morgan

Last week, Jamie Dimon of JP Morgan announced that some trading errors that occurred at his company as a way to hedge the company’s portfolio resulted in a $2 billion dollar loss. Big government types like President Obama and the rest are now calling for investigation and more supervision.

Let’s see, JP Morgan is a public company. The loss is a lot of money, however, they will still earn money for their share holders for the first quarter.

Big government types like Obama have wasted money far faster. They have given us the $800 billion dollar stimulus bill, the multi-trillion

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