Dear Editor,
The United States was the gold standard for excellent credit worldwide almost since our country was founded in 1776. That is why the entire world has adopted the U.S. dollar as the standard currency for trading between nations.
In the past four years, the credit rating of the United States of America has been downgraded twice. This is the first time in our country’s 239-plus-year history that our credit rating has been downgraded and it happened not once, but twice.
In the past four years, the leadership in Washington has increased the country’s debt by about $1.3 trillion a year for each of those four years. That means that the current administration has added about $5 trillion to our debt since being elected. That is not money spent, that is money borrowed and then spent. That is almost the amount of debt incurred by all the president’s since George Washington. The result is a $16 trillion debt that must be paid off by future generations. Our children and grandchildren!
All the while, our Federal Reserve is printing $40 billion a month. Every dollar that is printed makes every dollar in your pocket, savings and checking accounts worth less and less. That gives rise to higher prices for everything we buy, like food, gas, clothes, etc.
When the government runs out of money all spending will stop. If they continue to print money, it will become worthless because it will take a wheelbarrow load to buy a loaf of bread. Please apply common and economic sense before voting on Nov. 6.
Jack Parker
Patrick
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