To the Editor:
After listening to our various political so-called leaders in Washington, D.C., they still have not learned simple economics.
I am no economist, by any stretch, but my grandchildren seem to have a better grasp on fiscal reality than any of those geniuses.
The youngest of them, 7 years old, knows he has to actually pay for things, not give IOU’s.
Of course, he can’t print real money, as can our government. At the same time, he cannot bankrupt an entire nation by printing worthless bank notes.
Something is seriously wrong here. The politicians are arguing over semantics, instead of addressing the real problem, their inability to actually do their jobs. Unemployment numbers (the numbers are much higher than reported because so many people are no longer even eligible for benefits because of the length of this economic downturn) are rising and rising yet more.
It can all be traced back to one simple thing: politicians getting their fingers in the pie, instituting policies that are financially unsound. Ever since Fannie and Freddie started crying about not having any money because so many bad loans had been written (while their politically appointed CEO’s got rich bonuses), the housing market has gone down.
Of course, the community governments have not lowered any property taxes, even though the true value of the homes in their areas are reduced.
We have not recovered from the so-called recession of 2008 (normally that takes about 14 months or so), and that was three years ago. Now, we are going into another recession? I don’t believe so. This is starting to look more like the depression of 1929.
Doyle Frost, Plattsburgh