Letter: Misguided economic thinking
Kudos to Tim Frazer for his letter regarding Sen. Kelly Ayotte and her party’s irresponsible fiscal policies (“Ayotte tries to deceive voters,” Monitor, Feb. 20):
The new extremist/libertarian wing of the Republican Party thinks United States is bankrupt because we went off the gold standard during the 1970s. This is a conspiracy theory gone amok. They are angry that our debt is 100 percent of GNP even though (as Frazer explained) our post-World War II debt was 121 percent of GNP.
While I like much of the libertarian social policies, Republican/libertarians like Ron Paul, Rand Paul and Ayotte are in a dither. They preach that we are hopelessly in debt, that our economy is on the verge of collapse. I disagree. I prefer a managed money supply and hope for a Congress that works with the Federal Reserve rather than wanting to shrink our government/economy to the size of a bathtub. While Ayotte goes along with an obstinate (and often ignorant) Republican Party, she apparently is not taking notice of the following:
1. The first priority of the American people is jobs.
2. Our transportation system is shameful!
3. The productivity of the American worker has doubled while wages have stagnated.
4. Republicans are still protecting tax loopholes for wealthy.
5. Protecting family fortunes – i.e. Walmart’s Walton family and others – is disgusting while young people have to go into outrageous debt for the college education required to pursue their dreams.