Overspending ends in disaster
This is in response to a May 5 Public Forum letter. It sounds like the writer is a Democrat. Not me; I used to be a Democrat, until I figured out that all either party cares about is getting re-elected. I would like to make two points.
1. Oil companies will always make too much money. Cut their subsidies and they will raise the price at the pumps. A friend of mine who got rich in the oil business stopped by my business one day. He said, “I just spent $100 filling my truck. I can afford this, but how about the guy pumping the gas? How about the working poor? Can they really afford high-priced gas?” If you missed the answer, it’s “No.”
2. On spending: How are nations able to spend more than they earn indefinitely? Any more successfully than individuals? Greece, Cyprus, Spain and other European countries’ economies are collapsing under the strain of overspending. Unless Californians exploit the oil in their state, they may be the first American state to collapse.
There will always be a good reason for overspending. It always ends in economic hardship or disaster. I believe our $17 trillion debt is pushing us toward disaster. The Public Forum writer ranted about a lot of other things, but unfortunately I am only allotted 300 words, so my response to the rest of his concerns will have to wait for another time.