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Letter: National debt is an immediate crisis

Editor, Gazette-Journal:


The Federal Reserve’s massive money printing must ultimately result in a significant rise in inflation, creating rising prices, interest and wages. Unfortunately, it is the rising interest rate that poses the greatest threat to our struggling economy.


Not only will inflationary pressures be brought to bear on prices and the home market, but consider for a moment the increasing cost of servicing the national debt. With the debt having recently surpassed the GDP, the U.S. faces an inevitable rise in inflation with a subsequent increase in the interest rate as a result of the massive money printing. The question then becomes, at what point will the cost of servicing the national debt become critical?


Considering that the average interest rate over a 24-year period from 1988 to 2011 was just under 5 percent, if we use a 5 percent interest rate on, shall we say, a $20 trillion national debt that forecasts a debt payment of $1...

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