The Treasury Constructing in Washington, D.C. Patrick Semansky, Related Press
We now have the best deficit spending in historical past which causes excessive inflation. It's like operating up the bank card. You are feeling nice till the invoice comes due.
100 years in the past the USA and Argentina had economies that have been about the identical measurement. Argentina went on a spending spree inflicting excessive inflation and hurting its financial system. Their inflation price is now 95% and rates of interest are 75%. If we don’t change, our financial system may even tumble.
Inflation robs from the poor and center class. Over a three-year interval, the common particular person will completely lose about 25% of their earnings and financial savings. (The wealthy have belongings that rise with inflation.) The youth are harm probably the most as their possibilities for a superb life turn out to be restricted. Our youngsters don’t deserve this.
The nationwide debt went from $1.5 trillion 50 years in the past to $31 trillion now. It is a 60-fold improve, or $300,000 per household. The cash is spent and gone, leaving us and our kids to pay the debt. If that cash had been given on to us, each household would have $300,000 extra. How come nobody feels richer?
Bruce N. Larsen
Bountiful