Letter: Debt concerns

Tuesday, May 15, 2018

I am concerned about our national debt and inflation. We are paying a low interest rate on our huge national debt now because our world economy has a low inflation rate and low interest rates. As our economy makes decisions that increase the costs of items including steel, gas and several imports, inflation will result. As inflation occurs we will pay a higher interest rate on our oversized national debt, and we will be on a very slippery slope.

We need to avoid inflation, and we need to reduce the debt. The debt was partially caused by the unfunded wars in Iraq and Afghanistan while simultaneously cutting taxes in the early 2000s. The debt was increased again to restore our national and world economies after the 2008 meltdown caused by inappropriate real estate financial bundling. I think we should start reducing the debt by restoring our national income to the tax structure before the early 2000 tax cuts, and we should try to keep inflation low.