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Letter: A growing threat

Editor, Gazette-Journal:

The recent reporting of positive economic indicators produced by the Bureau of Labor Statistics forecasts a marked improvement in industry and job creation. As citizens, we have a vested interest in the promotion of policies that encourage economic growth.

It is an undeniable fact that debt and excessive spending continue to pose a threat to the economy. Beginning next year, federal deficits will likely exceed $1 trillion per year. For the past 17 years the debt has been growing eight times faster than the GDP. Even with the recent reports of positive economic indicators it is a given that an ever-increasing debt is unsustainable. The current chairman of the Federal Reserve expressed that very sentiment upon his appointment to this post.

The national debt will top $30 trillion in the next 10 years. Should a recession occur during that time, the debt could top $40 trillion. America is looking at $1 trillion-plus annual deficits as far as the eye can see. It i...

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