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Government spending is out of control
The Gazette Opinion Staff
Apr. 16, 2011 11:25 am
The government's spending of our tax dollars is out of control. But what most people don't talk about is what the borrowing that allows us to spend is costing us. I understand that just during the recent debate about spending, we had to borrow more money, than the negotiated spending cuts, just to keep the government from shutting down.
Further, the amount that was cut from the budget, less than $40 billion, is about what we pay on interest for two days! We cannot continue to borrow more money, which means we have to pay more interest. If the debt ceiling is raised, to allow us to borrow more money, we will never catch up to the runaway spending that is going on. The interest alone will bankrupt this country.
It's time to stop the out of control spending! All of us together don't earn enough money to pay off the $14 trillion debt that has been accumulated, let alone afford to pay more debt and more interest.
Gary Fischer
Iowa City
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