Debt problem

Debt problem
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January
31
2009

San Mateo Daily Journal

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The national debt problem


Editor,


National Debt: It is not new for our government or any other to borrow money.


Most governments do so when in a crisis, such as a war.


What is unique today is that our government borrows during good times and bad, during war and peace alike.


But what makes our government’s debt so dangerous is that we are in debt beyond our total asset value.


In other words, we are broke. Unfortunately, there seems to be no thought of ever trying to repay the debt.


In truth, our government cannot even pay the interest on its debt, unless it does so through additional borrowing.


Ted Rudow III,MA

WE ARE BROKE!
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Friday, January 30, 2009 | Last Update 9:22 PST

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Letters to the Editor

January 28, 2009







"U.S. is totally broke"

National debt: It is not new for our government or any other to borrow money. Most governments do so when in a crisis, such as a war. What is unique today is that our government borrows during good times and bad, during war and peace alike.

But what makes our government’s debt so dangerous is that we are in debt beyond our total asset value.

In other words, we are broke. Unfortunately, there seems to be no thought of ever trying to repay the debt. In truth, our government cannot even pay the interest on its debt, unless it does so through additional borrowing.

– Ted Rudow III MA,