Politicians must stop overspending and inflating money supply

Published: Tuesday, Nov. 26, 2013 - 7:10 am

Re "Economy needs real answers" (Letters, Nov. 23): It was good to see Jerry Zimowske's letter about the ailing economy. He resonates with the fact that the government spends more than it takes in. Then, the Federal Reserve, wrongheaded, makes up for it by inflating the money supply, printing paper dollars, and borrowing. How long can any business or household run if overspending? Politicians love to promise the moon to the people whose taxes pay for that moon. They get elected on the promises, but if politicians give too much, they overspend and the people pay dearly. Inflation of the money supply results in higher prices because it takes more dollars to make the same quality product. We must remember that there are, in the end, "no free lunches" from the state. Politicians must end their insane overspending and back paper dollars with gold. Tragedy will hit if the dollar is worth nothing.

-- Tim Bellows, Gold River

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