Letters to the Editor2/5/09

Feb. 5, 2009

ELECTION LETTERS POLICY

Local elections will be held on Tuesday, March 3. Please note the Observer will not run any Letters to the Editor pertaining to the elections on Feb. 26, the week prior to the election.

All Letters to the Editor written in regards to the March 3 election MUST be received no later than 5 p.m. on Monday, Feb. 16, and will appear in the Observer on Feb. 19. Please be aware that normal guidelines will apply, including a 300-word limit for all letters.

E-mail letters to editor@willistonobserver.com.

 

Who is buying U.S. debt?

The Wall Street Journal reported on Jan. 29 that China has stopped buying U.S. issued securities. Japan completely stopped over a year ago. The large oil producers are broke with $40 oil prices. They are no longer investing in America.

The federal government is gearing up to spend several trillion dollars above the current recklessly high spending levels. The Fed does not have that money from tax revenues or other sources. The only way to get that much dough is to just print it.

With millions of workers being added to the unemployment rolls every month, defaults on mortgages, loans and credit cards are going to continue to rise. The full faith and credit of the U.S. Government isn’t going to be worth anything should this outrageous spending continue. The U.S. Treasury has no more than $110 billion in gold reserves. My guess is the Pork Train is just pulling out of the station. All aboard!

Shelley Palmer

Williston


Editor’s note: Shelley Palmer is running for a two-year seat on the Williston Selectboard in the March election.