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Fed borrowing ultimately will mean higher rates

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POSTED October 31, 2013 1:16 a.m.

Editor, Manteca Bulletin,

In the past month we have seen how our government and the president function.  Their idea on running the country is to continue to borrow money from foreign countries to pay our bills and do what they want.  They have shown their true colors on how selfish and self centered they really are. They have hurt the American people so badly and our economy that they will never be able to fix the damage they caused.  For the president to go on national television and say he will not talk about anything unless the debt ceiling is passed shows how shallow he is. 

The only way the debt ceiling can work is if foreign countries continue to loan us money and our interest rates stay low which is controlled by the government.  It allows our government to print more money anytime they want.  It also depends on how solvent our dollar value is which is not doing well.  When that happens all of the above will not apply and that is because their own laws which they passed will not allow them to.  Interest rates will go   sky high which the government will have to pay money back to the lenders at a higher rate and we will be caught in the same mess. Foreign countries already are not sure about loaning us money   because it is too risky. 

At some point the United States will have to come up with some other kind of currency that is more dependable.  The politicians and the president both held the American people hostage because of their attitude.  The president is doing it with the health care program he created which is to get on board or pay a fine.  His plan is a tax.  They should have to take the same plans we do and pay for their own.  I don’t like the government telling me what

 The life as we know it now you’d better enjoy because change is coming sooner than later and it won’t be good for any of us.  Remember what has happened to your country so when election time comes around vote them all out and start fresh.

Connie Finck
Oct. 23, 2013

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