Northwest Voices | Letters to the Editor
Fiscal cliff averted with new budget plan
Avoid printing more money
Let’s get this straight. Our government currently spends more than $1 trillion a year above its income and it wants us to think it just “fixed” this by an adjustment of $60 billion a year [“Drama, then a deal: ‘Fiscal cliff’ averted,” page one, Jan. 2].
Do government officials really think they can fool us by citing a $600 billion correction if they stretch the truth over 10 years?
Our government is printing money at will, as fast as it can and now with no limit under QE3 [the third round of quantitative easing by the Federal Reserve]. Acrisis can be seen from the vantage of the Federal Reserve, which through Chairman Ben Bernanke sounded the warning of a “fiscal cliff.” Congress and this president have achieved nothing in their last-minute deal to correct our path to self-destruction.
There clearly remain three cliffs that were part of the original “fiscal cliff.” In mid-February comes the debt default, on March 1 the “sequester” spending cuts and on March 27 the budget, which has been postponed for three years. Watch outif the rascals fix these threecliffs by printing more money.
—Gerald N. Yorioka, Mill Creek