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Letter: Debt does not matter until it does

Editor, Gazette-Journal:

With the U.S. national debt approaching $22 trillion, it is evident that no politician will to address the danger of the continuing, ever-increasing debt. The moral fiber and the attention span required to begin to curb the increasing debt does not exist within the political establishment or, sadly, within the will of the people.

Even if fiscal conservatives were suddenly elected to political office, any success of their efforts would require suspension of the democratic process and the imposition of law mandating reduced spending until such time as the debt is retired and substantial surpluses are achieved. This would require multiple decades and a supremely dedicated effort of will by the government and the governed.

Will this happen? Not at all likely. Instead, we hear that debt does not matter; meanwhile, it is becoming evident that many foreign buyers are no longer purchasing U.S. Treasury bonds and securities. This prompts further dollar creation by th...

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