To the Editor:
Twenty-five years ago, our country had little or no national debt. In the past 10 years, U.S. debt has gone from $10 trillion to $20 trillion and climbing.
We are now in a situation where our $20 trillion mostly short term bond and treasuries are coming due to either be paid off, resold or rolled over.
With the increase in interest rates, most holders of U.S. bonds will sell, putting trillions of short term bonds into the market this year. On top of that, this year’s annual deficit is projected to be over $1 trillion. Add to that the $4 trillion of bonds the Federal Reserve plans to sell back into the market at a rate of $20 billion to $50 billion every month.
Using conservative numbers of $3 trillion of bonds to be resold, $1 trillion for this year’s deficit, and the Federal Reserve selling $500 billion, we need someone to buy between $4 trillion and $5 trillion of our bonds this year.
Who, what bank, brokerage house, bullion bank or country has that kind of money? No one! The bonds will have to be monetized (printed), crashing the U.S. dollar, or interest rates on our bonds will sky rocket.
What’s in your wallet? Bonds, dollars or gold?
Peter R. Russ
Bluffton
To the Editor:
Democrats are hypocrites and aren’t interested in solving DACA. There are approximately 800,000 dreamers; the Democrats don’t care what happens to them. President Trump offered citizenship to 1,000,600, more than the Democrats wanted and they refused. They want to use DACA as a campaign issue in 2018 as they don’t have an agenda to run on.
They’re not interested in solutions; their main objective is re-gaining power and would do and say anything to achieve it. Everything Trump is for, they’re against, i.e. improving our infrastructure, even if they were originally for it.
When Obama became President, they controlled all three branches, they allotted him one trillion dollars toward improving our infrastructure; instead he lost it gambling on failing green companies and bailing out unions.
Trump wants to improve our infrastructure; the Democrats are against it, citing the increase in our debt; meanwhile Obama doubled our debt and increased it more than all previous Presidents combined. When they controlled all three branches, they could have solved immigration, gun control etc. instead they passed Obamacare, which is a disaster and is imploding.
Obama raised taxes, Trump cut taxes and not one Democrat voted for Trump’s tax cuts, indicating Democrats are only interested in raising taxes. Democrats claim only the wealthy will benefit, meanwhile early results are over 300 companies gave their employees bonuses of up to $4,000, which the Democrats call crumbs.
Also, some companies increased wages and many are returning to our country expanding and spending billions in building new facilities and hiring employees.
Vince Sgroi
Bluffton
