Taxes fund debt, and this reduces spending

Dean E. Owens' busting on Ben Carson for his column is devoid of personal knowledge of money, money supply, economics and economic geography ('Carson shows lack of financial knowledge,' April 3).

First, any money owed the countries buying our debt (the Fed printing money) has to be paid back. This comes from our taxes. If our taxes are spent paying interest on the notes, it can't be used for anything else (health care, defense, roads, etc.). If something is needed for real stuff (health care, defense, roads, etc.), taxes must be raised to pay for them. This takes the money that was being spent in public out of the public and depresses that segment's workings. It also takes away from your savings and my savings capabilities.

Russia and China aren't buying our debt because it is a good buy, they are buying it because it leverages us against ourselves. You might want to add a course on geo politics also.

Jim Gabbert

Cedar Rapids