Letter: Economic house of cards
In reply to the writer ("Both parties will have to change," Sept. 20 Readers Write) that disparaged my comment of Sept. 6, i.e., everything has an expiration date, including government, perhaps I failed to make my point.
With 165,000 pages of federal regulations and more being added each day, with federal spending that exceeds federal income by $2.7 billion per day, with a federal debt of now $16 trillion, with total unfunded liabilities of the federal government about $120 trillion, with unemployment double that of what was once considered normal, what is it about the facts that isnot understood?
In summary of the preceding, with the $120 trillion liability and with the existing tax burden, the Supreme Court has underwritten the demise of government by its blessing of continued socialism by declaring Obamacare a tax and by some odd quirk, making it Constitutional, underwrites the demise that I reference. With QE3 now in progress, the money supply will be expanded yet again. Unfortunately, no one knows just what the money supply is as the Federal Reserve ceased publication of the M3 monetary aggregate some time ago. Meanwhile, the economy is being destroyed by government’s attempt to keep the parasitic socialist state alive.
Again, may I reiterate everything in the universe has an expiration date, including governments and, might I add, fiat currencies.
Port Haywood, Va.