{"id":102422,"date":"2024-07-22T07:37:35","date_gmt":"2024-07-22T11:37:35","guid":{"rendered":"http:\/\/www.owegopennysaver.com\/PS\/?p=102422"},"modified":"2024-07-22T07:37:35","modified_gmt":"2024-07-22T11:37:35","slug":"letter-government-needs-to-rein-in-on-spending","status":"publish","type":"post","link":"http:\/\/www.owegopennysaver.com\/PS\/2024\/07\/22\/letter-government-needs-to-rein-in-on-spending\/","title":{"rendered":"Letter: Government Needs To Rein In On Spending"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Time to get the government out of choosing winners and losers by underwriting programs and projects with borrowed* money; programs and projects which cannot see a return under a 25 year window, if at all.&nbsp;&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Many of the currently funded programs \/ projects don\u2019t even have the technology to support their proposed outcomes to attain an \u2018idealized finish line\u2019; a tax liability to taxpayers with no guarantee of a return on investment; investments which are better suited for private investors.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Financial accounting shows 2015 carried a national debt owed of $18.8 Trillion and Revenue of $3.3 Trillion.&nbsp;2020 began with a debt owed of&nbsp;$17.2 Trillion with revenue at $4.7 Trillion.&nbsp;2023-year end had a first ever I.O.U. of&nbsp;$35 Trillion dollar debt with&nbsp;Revenue of $4.4 Trillion.&nbsp;&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Our current government has covered the debt by \u201dprinting paper\u201d to keep it in circulation, and with secured loans from foreign governments to underwrite the circulation. *The cost to carry the current debt of $35 Trillion is to pay $1 Million every 100 days the interest charges paid on bonds sold to foreign countries, $300 billion sold to China 2021-23. (Which gives cause to consider our foreign relation policies.)&nbsp;&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Yet Democrats holding the majority continue funding future endeavors with more uncollected revenue and&nbsp;zero planning to budget for paying off the current debt. These practices will, just as a personal household without any remaining resources, end up&nbsp;in bankruptcy, causing a national and global calamity.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">How that will affect us nationally would be unrecognizable to the extent that instead of inflation we would have deflation due to increased debt burdens, distorted economic decision-making, reduced consumption, increased unemployment,&nbsp;and put many more individuals into bankruptcy.&nbsp;These practices have shown the ugly side of the cost of living on inflationary earnings, which buy less but cost more due to higher interest rates, creating the vicious circle of government borrowing with no means to pay down.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Active and current government funded programs would cease when debt cannot be paid via tax revenues. Our elected still have avoided&nbsp;reconciling expiring funding for continuing Social Security by 2035 and Medicare in 2036 to establish reserve accounts for retirees.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The depression of the 1930\u2019s will be insignificant to what awaits us if the financial planning and spending isn\u2019t resolved.&nbsp;Financial Security for our country is no less important than that of financial security by people who live and work to pay their bills in order to have food and housing.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">There needs to be a better return for taxpayers than to have their earnings spent on programs of no return, only to end up having their income devalued by increasing the debt with borrowed money backed by printing devalued dollars on more \u201cpaper\u201d.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Democrats have held the majority for eight of the previous 12 years, with the debt doubling in the current term. It\u2019s time the elected in Washington reduce more spending and underwriting with borrowed loans. We cannot save others if we cannot save ourselves first.&nbsp;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sincerely,<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Florence Alpert<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Candor, N.Y.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Time to get the government out of choosing winners and losers by underwriting programs and projects with borrowed* money; programs and projects which cannot see&#8230;<\/p>\n","protected":false},"author":5,"featured_media":82352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-102422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-letters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Letter: Government Needs To Rein In On Spending - 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