- Man accused of setting fire to Delta bar; posted photos of it burning on Facebook (9/17/17)5
- McClure man accused of leaving children in hot truck while gambling in casino (9/19/17)1
- Say Cheese: The story behind the famous sandwiches at the East Perry Fair (9/22/17)
- New boutique store advocates for special-needs people (9/19/17)
- Anne Limbaugh dies, leaves legacy of caring (9/22/17)
- Planet Fitness to anchor Town Plaza shopping center (9/18/17)2
- Former major-league slugger Darryl Strawberry to speak at La Croix (9/20/17)
- Mo. conservation agents help fight fires in western U.S. (9/15/17)
- Retailer may come to Jackson; rezoning needed first (9/17/17)2
- Young entrepreneurs add fresh ideas, unique offerings for area market (9/18/17)
Government cost is leech sucking nation's blood
To the editor:
The cost of running the federal government has grown enormously in just the last 36 years. Government economists claim government spending ranges between 17 and 23 percent of gross domestic product, but is that the true cost?
Martin Weiss of the Safe Money Report figures that the $500 billion budget deficit, the borrowings from the Social Security Trust Fund, the war in Iraq, planned tax cuts, prescription drug coverage and the money needed to bail out the Pension Benefit Guaranty Corporation add up to a total deficit for 2004 of over $1 trillion. That's just the deficits. Add in the regular budget of $2 trillion, and suddenly we are looking at government spending of about 30 percent of GDP.
But there also is the cost of inflation. Government has been printing money faster than the growth of GDP. This inflation benefits those at the top of the ladder at the expense of those at the bottom.
Republicans know that the cost of government comes at the expense of enterprise and jobs. And they also know that taxes are only part of the expense that government puts on this nation's economic output.
If you add up all the figures, the cost of government may well exceed the estimated 30 percent of GDP. It is like a leech draining the blood of its victim. In this case there is an exceptionally large and growing leech sucking the economic blood out of this nation.
Marble Hill, Mo.