Letter: The cost of borrowed money
It's rather ironic. The Democrats have no choice but to continue spending borrowed money to get us through another stock market crash that happened from spending borrowed money in the first place.
The question is, are these Wall Street financiers and their institutions entitled to bailout money from the taxpayers? I don't think so. There is no way to tell the crooks from the good guys. They don't even know among themselves which is which.
For years these people, who insist our financial market system be free and private, have preached -- deregulate. Privatize. Keep the government out. Don't trust the government, etc. Why do we listen to their garbage?
The government and our elected officials are all we can trust when it comes to money. And we should insist it and they take the nation's financial system out of the hands of these crooks on Wall Street. These crooks, who can think up so many ways to legally rob the common citizens of their fair share of the country's wealth they work to help create.
Instead of a little inflation from year to year, we're now suffering high inflation from so much borrowed money being spent. With such high debt, I fear this 2008 stock market bust may be worse than the one in 1929. We may end up paying the national debt with worthless money. That seems to be where we're headed. I keep wondering. My first barbershop haircut cost me 25 cents in 1932. Recently I felt good paying $11.50 for senior citizen's haircut. If, some day, haircuts reach 10 times that amount, $115, will I still feel good? I think I'll be wishing I could relive the past.
Speaking of the past, the Republicans want us to forget the past. Maybe we should. So, President Obama, with a problem of two wars fueled by religion, 13 million unemployed and a projected $20 trillion debt to deal with, I wish you good luck in your effort to clean up our country's mess left by what's-his-name, that guy who was president before you.